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General Statement

Corporate credit cards allow Union WELL, Inc. units to effectively control and monitor small purchases, and reduce time and paperwork. Union Well Inc. authorized cardholders may make walk-in purchases; place telephone orders; use online services; and receive and confirm purchases not to exceed $1,000 (including tax and shipping) without prior authorization. Purchases of $1,000 to $2,500 (including tax and shipping) must be approved in advance by the Executive Director, Associate Executive Director or Director*.  The Executive Director may approve credit card purchases in advance up to $5,000 (including tax and shipping). All purchases shall be consistent with Union WELL Inc. Purchasing Guidelines and Procedures (see Purchasing Policy).  No purchases shall exceed $5,000.  Travel expenditures are exempt from this policy and are governed by the travel policy.

Guidelines and Procedures

  1. Prohibited Credit Card Purchases
    Union WELL Inc. corporate credit card should not be used to procure items such as:
    1. Cash advances, leases, and maintenance services;
    2. Cell phone (equipment and accessories), Cellular services (voice, text, and data), except cellular data services for customer usage;
    3. Personal purchases of any kind;
    4. Narcotics and other controlled substances;
    5. Alcohol (except with the permission of the Executive Director,) in accordance with the hospitality policy;
    6. Tobacco and tobacco related products;
    7. Splitting of purchases to circumvent the dollar limitation.
  2. Misuse of Credit Card
    Cardholders are to observe strict compliance with the program policies and guidelines at all times. In the event of repeated abuses of Union WELL Inc. corporate credit card policies, the card will be revoked. Further, the employee will be subject to disciplinary action up to and including termination of employment and/or criminal prosecution.
  3. Limits
    Credit card purchases of $1,000 to $2,500 (including tax and shipping) must be approved in advance by the Executive Director, Associate Executive Director or Director*.  The Executive Director may approve credit card purchases in advance in the amount of $1,000 up to $5,000 (including tax and shipping).
  4. Responsibilities
    1. Cardholder: The cardholder is responsible for:
      1. Appropriate use of Union WELL Inc. credit card;
      2. Security of the Union WELL Inc. credit card;
      3. Compliance with Union WELL Inc. purchasing policies and procedures;
      4. Preparation of the monthly credit card reconciliation form, where the purpose of the purchase is identified;
      5. Reviewing monthly credit card statement of account, attaching all original receipts and forwarding to their approving Union WELL Inc. official within five working days;
      6. Making arrangements in his/her absence to ensure paperwork is submitted to their approving Union WELL Inc. official in a timely manner.
    1. Approving Union Official: The Approving Union WELL Inc. Official is responsible for:
      1. Reviewing all charges;
      2. Ensuring all purchases are appropriate;
      1. Ensuring no prohibited items have been purchased;
      2. Ensuring all proper original documentation is attached to monthly Credit Card Statement;
      3. Signing cardholder statements and forwarding them to the Union WELL Inc. Business Office within three working days;
      4. Approving purchases in advance in the amount of $1,000 to $5,000 in accordance to limit guidelines detailed above.

If there are excessive instances of lost receipts, the employee’s credit card may be revoked. Further, the employee will be subject to disciplinary action up to and including termination of employment.

  1. Fiscal Year-End Accruals
    Upon receipt of the June Statement, two separate monthly reports must be submitted to the Approving Official. The first one is to include all purchases listed on the June statement. The second one is to include all purchases made through June 30 that have not yet appeared on the statement. The total amount listed on the second report will then be the accrual for the fiscal year ending June 30.

*Director of Financial Services is excluded from this authority due to the need for segregation required for financial duties.

Change History

Adopted: May 2003

Updated: November 18, 2015

Updated: February 19, 2014

Updated: October 24, 2007

 

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