(a) Use and Financial Responsibilities. The employee agrees to comply with all the applicable policies and procedures of the Village and this Credit Card Policy. The Villages credit card is to be used ONLY for official business expenditures, not personal expenses. The cardholder is responsible for ensuring that the credit card purchases are within budget and properly approved. The Village will pay for the total balance by the payment due date each month for each company-approved charge by the cardholder.
(b) Credit Spending Limits. The credit limit has yet to be determined.
(c) Credit Card Statements. Corporate credit card statements and expenditures must be sent to the appropriate agent at the Village for review. If the credit card expenditures are not received within one month of the statement due date, a reminder will be sent of their obligations under this policy. Continued or repeated non-conformance to this Policy can result in cancellation of the card and/or such other actions as appropriate.
(d) Receipts and Expense Reports. Cardholders must maintain physical proof of each credit transaction with the corporate card and provide an itemized receipt when practicable. A failure to provide receipts or credible explanation for any transactions could result in a debit from the cardholder's salary, forfeiture of right of reimbursement, and other disciplinary action. Credible transactions should contain the following information when appropriate: date of purchase, vendor name and address, quantity, unit price, grand total of expenditures. When applicable, written notation should supplement the receipts with the following information: the business purpose and names of persons in attendance, including their professional titles or affiliation. Expenses must be submitted within thirty days from the time expense was incurred. Expense reports submitted outside of this time frame will not be reimbursed.
(e) Credit Card Violations and Consequences. Credit card violations may include, but are not limited to, obtaining cash advances or for other expenses than those incurred by the assigned employee named on the card, charging personal transactions to the corporate credit card, allowing unauthorized users to use the corporate credit card, exceeding the credit card limit, failing to promptly return the credit card when a cardholder is reassigned, terminated, or any terms determined at the discretion of the Village. Cardholder transactions will be scrutinized to ensure compliance with this policy. Infractions of the conditions of this policy, or to any Village policy that may apply to this Credit Card Policy, could result in cancellation of the card and withdrawal of credit card privileges. Breaching of this policy may result in disciplinary action against the employee up to and including termination. In all cases of breach, the Village will consider the facts and circumstances of each incident, and will take action as deemed appropriate. The Village reserves the right to recover any monetary considerations from the cardholder. Internal and external audits of cardholder purchases may be carried out from time to time at the discretion of the Village.
(f) Ownership and Cancellation of the Credit Card. The credit card may not be transferred or assigned to anyone other than the designated cardholder. The designated cardholder is accountable for all activity on the credit card. The Village may suspend or cancel cardholder privileges at any time for any reason. The cardholder will forfeit the credit card upon request to the Village or any authorized agent of the card issuer. The credit card will be returned to the Village upon any notification of resignation and the cardholder must reconcile all expenditures on the credit card since the last credit card statement. It is the responsibility of the departing cardholder to ensure that the account is settled prior to departure.
(g) Disputed Items. It is the cardholder's responsibility to follow-up on any erroneous charges, returns, or adjustments to ensure proper credit is given on subsequent statements. Disputed transactions must be resolved with the card issuer and the bank by the cardholder. The cardholder must notify the bank immediately for resolution and the appropriate agent at the Village should be informed as well.
(h) Protecting the Credit Card. Lost or stolen cards must be reported immediately to the appropriate agent at the Village. The appropriate agent must be notified within two business days of this activity, or in the instance of loss or theft while conducting business overseas, must be notified within two business days of returning to the official place of business.
(i) Safekeeping. Newly issued cards should be signed immediately by the cardholder upon receipt. When using the card for approved internet transactions, care should be taken that the site utilizes recognized encryption technology. Card numbers should not be saved or stored in online accounts. When the corporate credit card has expired and/or cardholder has received a new corporate credit card, the cardholder should cut the card in half and discard it. Cardholder should make certain that the card is returned to them, if being used by an employee that has been authorize to use it on behalf of the card holder after each charge and verify that the receipts are in hand.
(j) Contact Information. For any issues, comments, or questions regarding this Credit Card Policy, please contact Village of Greenwich at 45 Main Street, Greenwich, OH 44837 at mayor@villageofgreenwich.com
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(Ord. 2018-04. Passed - - )