Credit Card Procedures (VISA, Kroger & Walmart Cards) I. VISA Card Procedures: General Information: Jackson State Community College currently has two (2) VISA credit cards assigned to it. The Executive Aide to the Vice President for Financial and Administrative Affairs is the person responsible for securing the College s primary VISA credit card. Only one (1) other VISA credit card is currently located on campus, and it is assigned to the Athletic Director. The Athletic Director is responsible for securing the Athletic VISA credit card. Prior authorization is required for single transactions exceeding $2000. Purchases Eligible for Primary VISA Card Use: The majority of items JSCC would normally approve for purchase can be obtained by using the VISA card. However, there are a few exceptions: 1. Travel: It is not permissible to use the JSCC VISA card for employee or student travel. Employees may not use the JSCC VISA card to reserve hotel rooms unless they have received prior written approval from the President or his designee. Students may not use the JSCC VISA card to reserve hotel rooms unless they have received prior written approval from the President or his designee. In these exceptional cases, the VISA card reservation must be cancelled upon check-in, and the employee or student must then pay for their hotel rooms. 2. Food: Food purchases should only be charged on the VISA card when the vendor will not accept a PO for charging and paying a bill. If this should occur, the rules for purchasing food still apply which include preparing a purchase request and food request form, obtaining appropriate signatures, and assigning a PO number before the VISA may be used. An exception to these rules has been made for the VISA card assigned to the Athletic Director. Purchases for team travel and other related expenses are allowed to be charged on the Athletic VISA card as needed. Purchases Specifically Prohibited or Requiring Special Approval: 1. Sales Tax - a. Charging sales tax on general JSCC purchases is prohibited. b. Exception - Sales tax must be paid on the purchase of items that will be resold to the general public (example: concession items purchased to resell at JSCC Revision 4-2012 1
basketball games). 2. Receiving cash withdrawals using these cards is strictly prohibited. 3. Purchases of printers or hazardous materials must be pre-approved (via the normal Purchase Requisition signatures) and a Purchase Order must be issued before they may be charged on the VISA card even if the purchase will be less than $50. Procedures for Primary VISA Card Use: Employees must contact the Executive Aide to the Vice President for Financial and Administrative Affairs to reserve the VISA card. This may be done by phone or e-mail. The card is reserved on a first-come, first-serve basis. Purchases on the VISA card are treated the same as all other purchases. All VISA purchases over $50 require a Purchase Order (PO) to be issued. A Purchase Requisition Form must first be completed and approved/signed through appropriate channels, and a PO number must be assigned before the VISA card can be checked out by an employee to buy the item(s). This PO# must be listed on the Credit Card Sign Out Sheet when the employee checks out the card (a sample of the sign-out sheet is attached). VISA card purchases of $50 or less do not require a PO and the employee need only to sign out the card to complete the purchase transaction. (NOTE - A Check Request should not be issued for VISA purchases of $50 or less where no PO was issued). Once the employee signs out the card, he or she can proceed with the purchase. When the card is returned to the Executive Aide to the Vice President for Financial and Administrative Affairs, the employee will give all receipts obtained during the charge transaction to the Executive Aide and sign and date the sign out sheet indicating the card has been returned and check the marked box to indicate receipt(s) were returned. The employee must list the complete FOAP# (Fund#, Org#, Acct# and Program#) and/or PO# ( as applicable) on the receipt(s). VISA Card Security Procedures: 1. The Purchasing Director may not use the VISA card to make purchases unless he/she has received written pre-approval from the Financial Administrative Analyst. 2. The primary JSCC VISA Card may only be checked out by JSCC employees. Students are not allowed to check out or use the JSCC VISA Card. 3. When the JSCC VISA Card has been checked out, the VISA Card must remain in the possession of the JSCC employee that it was originally issued to at all times until it has been properly returned. Revision 4-2012 2
4. The JSCC employee that originally checked out the VISA Card must personally return the card and all receipts to the Executive Aide to the Vice President for Financial and Administrative Affairs. The VISA Card and receipts may not be returned by another employee, student, visitor or by campus mail. Procedures for the Athletic VISA Card Use: Athletic team travel related expenses may be charged to the Athletic Director s VISA card as needed. The Athletic Director will issue a Purchase Requisition at the beginning of each month based on the estimated Athletic expenses that will be charged on the Athletic VISA card during that month. This Purchase Requisition must be approved/signed through appropriate channels, and a PO will be issued to encumber the funds. Procedures for Reconciling Monthly Statements: Monthly statements for both VISA cards are e-mailed directly to the JSCC Director of Purchasing by Regions Bank. The Director of Purchasing will forward a copy of the Primary VISA statement to the Executive Aide to the Vice President for Financial and Administrative Affairs who will verify the Primary VISA statement to the Purchase Orders and VISA receipts collected over the previous month. Once the verification process is complete, the Executive Aide will sign and date the statement as certification that he/she has completed the verification and will then forward the statement with all supporting documentation to the Director of Purchasing for further processing. The Director of Purchasing will complete a secondary verification of charges/receipts against the Primary VISA card statement to balance the statement. The Director of Purchasing will then sign and date the statement as certification that he/she has completed the secondary verification and has balanced the statement. The Director of Purchasing will forward a copy of the Athletic Department s VISA statement to the Athletic Director who will verify the Athletic VISA statement to the Purchase Order and VISA receipts collected over the previous month. Once the verification process is complete, the Athletic Director will sign and date the statement as certification that he/she has completed the verification and will then forward the statement with all supporting documentation to the Director of Purchasing for further processing. The Director of Purchasing will complete a secondary verification of charges/receipts against the Athletic VISA card statement to balance the statement. The Director of Purchasing will then sign and date the statement as certification that he/she has completed the secondary verification and has balanced the statement. Once the monthly statements for both the Primary VISA card and the Athletic VISA card have been verified and balanced, an Excel spreadsheet identifying the dollar ($) amounts to be charged to each FOAP# is prepared by the Director of Purchasing and forwarded to the Cash Revision 4-2012 3
Manager. The Cash Manager then prepares a journal voucher using the information to offset the ACH debit. The VISA statements are received by the Director of Purchasing no later than the 2 nd of each month. The accounts are verified and balanced and the Excel spreadsheet forwarded to the Cash Manager no later than the 12 th of each month. The ACH debit occurs directly from VISA to Jackson State Community College s General Operating Bank account around the 15th of each month. Misuse of the VISA Cards: Use of the VISA card(s) that is NOT in accordance with the guidelines established for this program may result in: (1) loss of card privileges, (2) personal liability, (3) suspension, (4) written reprimand, or (5) termination in the case of fraudulent use. II. Kroger & Walmart Card Procedures: General Information: Jackson State Community College currently has one (1) Kroger credit card and two (2) Walmart credit cards assigned to it. The Director of Purchasing is responsible for securing the College s Kroger & Walmart credit cards. Purchases Eligible for Kroger & Walmart Card Use: Items JSCC would normally approve for purchase from Kroger or Walmart can be obtained by using these cards. Purchases Specifically Prohibited or Requiring Special Approval: 1. Sales Tax - a. Charging sales tax on general JSCC purchases is prohibited. b. Exception - Sales tax must be paid on the purchase of items that will be resold to the general public (example: concession items purchased to resell at JSCC basketball games). 2. Receiving cash withdrawals using these cards is strictly prohibited. 3. Purchases of printers or hazardous materials must be pre-approved (via the normal Purchase Requisition signatures) and a Purchase Order must be issued before they may be charged on the VISA card even if the purchase will be less than $50. Revision 4-2012 4
Procedures for Kroger & Walmart Card Use: Employees must contact the Director of Purchasing to reserve a Kroger or Walmart card. This may be done by phone or e-mail. These cards are reserved on a first-come, first-serve basis. Purchases on the Kroger and Walmart cards are treated the same as all other purchases. All Kroger and Walmart purchases over $50 require a PO to be issued. A Purchase Requisition must first be completed and approved/signed through appropriate channels, and a PO number must be assigned before the Kroger or Walmart card can be checked out by an employee to buy the item(s). This PO# must be listed on the Kroger & Walmart Credit Card Sign Out Sheet when the employee checks out the card (a sample of the sign-out sheet is attached). Kroger and Walmart card purchases of $50 or less do not require a Purchase Order. The employee need only sign out the card to complete the purchase transaction. A Check Request must be issued for Kroger and Walmart purchases of $50 or less. Once the employee signs out the Kroger or Walmart card, he or she can proceed with the purchase. When the card is returned to the Director of Purchasing, the employee must give all receipts obtained during the charge transaction to the Director of Purchasing and sign and date the sign out sheet indicating the card has been returned. The employee must list the complete FOAP# (Fund#, Org#, Acct# and Program#) and PO# (if applicable) on these receipts. The Director of Purchasing will forward these Kroger and Walmart receipts to Accounts Payable. For purchases over $50, A/P will match these receipts to the corresponding PO and it will be processed for payment. For purchases of $50 or less, the Kroger and Walmart receipts must be attached to an approved/signed Check Request when turned into the Director of Purchasing, and the Director of Purchasing will forward the receipts & Check Request to Accounts Payable for payment processing. Kroger & Walmart Credit Card Security Procedures: 1. The JSCC Kroger & Walmart credit cards may only be checked out by JSCC employees. Students are not allowed to check out or use these JSCC credit cards. 2. When a JSCC Kroger or Walmart credit card has been checked out, that credit card must remain in the possession of the JSCC employee that it was originally issued to at all times until it has been properly returned. 3. The JSCC employee that originally checked out the JSCC Kroger or Walmart credit card must personally return the card and all receipts to Director of Purchasing. The credit card and receipts may not be returned by another employee, student, visitor or by campus mail. Revision 4-2012 5
Misuse of the Kroger and Walmart Cards: Use of the Kroger and Walmart cards that is NOT in accordance with the guidelines established for this program may result in: (1) loss of card privileges, (2) personal liability, (3) suspension, (4) written reprimand, or (5) termination in the case of fraudulent use. Quick Summary of Credit Card Procedures: 1. All VISA, Kroger and Walmart card purchases over $50 require that a Purchase Order must be issued before the card is checked out, and this PO# must be listed on the sign out sheet when the card is checked out. 2. Kroger & Walmart card purchases of $50 or less require an approved/signed Check Request to be turned in with the Receipts. 3. VISA Card Purchases of $50 or less do not require a Check Request. 4. The complete FOAP/Acct# and PO# (if applicable) must be listed on all credit card receipts when they are turned in. 5. VISA receipts must be turned in to the Executive Aide to the Vice President for Financial and Administrative Affairs when the card is returned. 6. Kroger & Walmart receipts must be turned in to the Director of Purchasing when the card is returned. 7. All credit card receipts (VISA, Kroger & Walmart) must be turned in at the same time the credit card is returned. 8. The VISA, Kroger & Walmart credit cards may only be checked out by JSCC employees. Students may not check out or use the JSCC credit cards. 9. The JSCC employee that originally checks out a JSCC credit card must retain possession of the credit card until it is properly returned. The JSCC credit card and all receipts must be returned by the employee that the card was originally issued to. Approved by: Horace Chase Title: Vice President for Financial and Administrative Affairs Date: Revision 4-2012 6
Credit Card Sign Out Sheet By signing for the VISA Card, you are agreeing to the following statement concerning misuse of the Card and the consequences that apply: Misuse of the VISA Card: Use of the VISA Card that is NOT in accordance with the guidelines established for this program may result in: (1) loss of card privileges, (2) personal liability, (3) suspension, (4) written reprimand, or (5) termination in case of fraudulent use. Sign Out - Name Date Out Vendor PO# (If over $50) Date Card Returned with Receipt Sign In - Name Revision 4-2012 7
Kroger & Walmart Card Sign Out Sheet By signing for the Kroger or Walmart Card, you are agreeing to the following statement concerning misuse of the Card and the consequences that apply: Misuse of the Kroger or Walmart Card: Use of the Kroger or Walmart Card that is NOT in accordance with the guidelines established for this program may result in: (1) loss of card privileges, (2) personal liability, (3) suspension, (4) written reprimand, or (5) termination in case of fraudulent use. Sign Out - Name Date Out Vendor PO# (If over $50) Date Card Returned Sign In - Name Revision 4-2012 8