425–Use of Company Credit Cards
POLICY: 425
ADOPTED: August 2006
Revised: November 22, 2016
425 USE OF COMPANY CREDIT CARDS
I. PURPOSE
The purpose of this policy is to establish good management practices and internal control procedures that meet statutory requirements in the use of NWSC company credit cards.
II. GENERAL STATEMENT OF POLICY
- The following positions within the NWSC are authorized to make purchases on behalf of the NWSC and are eligible to use the company credit card:
- Executive Director
- Business Manager
- Education Services Director
- Program Coordinators
2. Credit card purchases must be consistent with state law covering public jurisdictions (Minn Stat. 471.38 Subd. 1.) and must meet all statutory requirements to provide sufficient detail to support the transaction (ie: invoices, receipts, etc.). The credit card statement itself is not sufficient documentation to support a credit card purchase.
3. All credit card purchases must be paid on a monthly basis. There is no authority to use credit cards to create a new form of debt for the NWSC. Proper supporting documentation (ie: invoices, receipts, etc.) must be submitted to the NWSC Accounts Payable Department to support the monthly statement from the credit card company.
4. No personal use of a company credit card is permitted.
Legal Reference: Minn. Stat. 471.38