(a) The City shall obtain a maximum of eight separate credit cards, with maximum credit limits ranging from two thousand five hundred dollars to three thousand dollars ($2,500 - $3,000) per card, and a maximum combined credit limit of twenty-five thousand dollars ($25,000). The cards shall be assigned and organized by the Finance Department, for use by designated departments. The Finance Director or designee shall be responsible for the management of the credit card account with the financial institution providing the cards.
(b) Credit cards shall only be issued under the name of the City of Canal Fulton.
(c) The City credit cards are stored in a locked cashbox in the Finance Department. Credit cards must be signed out by the individual requesting the use of the card and countersigned by Finance personnel prior to use. Credit cards should be promptly returned to the Finance Department after usage and signed back in by the user and Finance personnel.
(d) Authorized users must forward itemized, detailed receipts of purchases for each credit card transaction to the Finance Department with the approved purchase order before it can be processed. Failure to provide detailed documentation as required by the policy wilt result in the user being responsible for the charge and any interest, fees or penalties for the period of time that the charges were not paid.
(e) The Finance Department will verify all credit card expenditures against the monthly statement and notify department of missing receipts or questionable charges.
(f) It is the responsibility of each authorized user to follow up with the transacting vendor on any erroneous or disputed charges, returns or adjustments to ensure proper credit is given on subsequent statements. The Finance Director or designee is responsible for following up with the financial institution providing the credit card account, cancelling compromised or lost cards, and obtaining new credit cards.
(g) The Finance Department shall keep reconciled statement data including receipts and packing slips, on file for a period consistent with the City's record retention policy.
(h) The Finance Director shall annually report to City Council all rewards received by the City for the use of the credit cards, if any.
(Ord. 49-18. Passed 12-4-18.)