Credit Card Policy: Difference between revisions
PastorLance (talk | contribs) Created page with "Category:Finance Credit Card Policy Eligibility The Chief Executive Officer has the authority to assign cards for individuals who would otherwise incur regular business expenses on behalf of Tree of Life Open Bible Church. The only person that can use the card is the person whose name is on it. Cards cannot be transferred to another person, even if they have a card for the organization. Prohibited Uses Cash Advances, Bank Checks, Traveler’s Checks, Electro..." |
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Prohibited Uses | Prohibited Uses | ||
Cash Advances, Bank Checks, Traveler’s Checks, Electronic Cash Transfers, Alcohol, Wine (Except communion), Marijuanna, CBD, Tobacco. Credit cards may never be used for personal expenses. | Cash Advances, Bank Checks, Traveler’s Checks, Electronic Cash Transfers, Alcohol, Wine (Except communion), Marijuanna, CBD, Tobacco. Lottery Tickets. Credit cards may never be used for personal expenses. | ||
Gift cards are only permitted to be purchased with explicit permission from the treasurer and are subject to gift card auditing policy. | Gift cards are only permitted to be purchased with explicit permission from the treasurer and are subject to gift card auditing policy. | ||
Revision as of 01:06, 26 November 2021
Credit Card Policy
Eligibility
The Chief Executive Officer has the authority to assign cards for individuals who would otherwise incur regular business expenses on behalf of Tree of Life Open Bible Church.
The only person that can use the card is the person whose name is on it. Cards cannot be transferred to another person, even if they have a card for the organization.
Prohibited Uses
Cash Advances, Bank Checks, Traveler’s Checks, Electronic Cash Transfers, Alcohol, Wine (Except communion), Marijuanna, CBD, Tobacco. Lottery Tickets. Credit cards may never be used for personal expenses.
Gift cards are only permitted to be purchased with explicit permission from the treasurer and are subject to gift card auditing policy.
Refunds for purchases made with a credit card should be returned to that credit card. Card holders should receive no cash or refunds directly. In the circumstance where a vendor refuses to refund to the card, the card holder should alert the senior treasurer as soon as possible.
Spending Limits
Spending limits for each card will be determined by the Director of Operations.
Unauthorized Charges
Cards are to be used for predetermined purchases only. Purchases should be approved by budgets or board votes.
Disputed Charges
The issuing bank must be alerted immediately of any disputed charges.
Lost or Stolen Cards
The issuing bank must be alerted immediately if a card is lost or stolen. Failure to do so may result in revoking credit card use from the cardholder.
Documentation
Itemized receipts are required for every purchase. For meal purchases, the names of everyone in attendance and a description of the meal’s business purposes are required to comply with IRS regulations.
Enforcement
If the above policies are not followed, the card holder is wholly responsible for those expenses. There could also be disciplinary action, up to and including termination of employment and, where appropriate, criminal prosecution.
Return of Card Upon Request or Termination
The Chief Executive Officer, the Governing Treasurer, or the Director of Operations can request a card to be surrendered for any reason at any time.
When a cardholder resigns or is terminated they will surrender the card immediately.