Effective Date: December 8, 2009
Last Reviewed: December 8, 2009
Purpose & Scope
Stonehill has entered into an agreement with Bank of America to provide designated College employees with a Purchasing Card that can be used to facilitate purchases of selected goods and services directly from the vendors for College use. This program is specifically designed to increase efficiency in the processing of selected low dollar purchases and travel expenses. When used for approved purchases, the card can replace Purchase Orders, Check Request Forms, Travel Advances, and Expense Reimbursement Forms.
Purchasing Cards are assigned to individual members of Stonehill College and cannot be transferred to, assigned to or used by anyone other than the designee. The use of the card is intended for purchases related to College business only. Use for personal purchases is strictly prohibited. The Purchasing Card may not be used as payment for certain restricted items.
Specific controls and limitations are placed on each Purchasing Card. The card includes dollar limitations, transactions limitations, as well as specific categories of merchants.
All cardholders must accept and sign the terms and conditions of the cardholders’ credit card agreement.
Each cardholder is required to keep the card secure and is encouraged to use it for every purchase within the parameters of the program and their departmental budget.
Cardholders are responsible for obtaining all documentation necessary to support the business purpose of the purchase and perform timely reconciliations in accordance with College procedures. Non-compliance in these areas is considered misuse of the card.
Fraudulent use and/or misuse of the card are grounds for revoking the Purchasing Card privileges and may lead to disciplinary action, up to and including termination of employment. Only Stonehill College employees are eligible for a Purchasing Card.
Stonehill College assumes full corporate liability to Bank of America for all charges. The Purchasing Card is a corporate credit card; there is no credit check and card use will not impact the personal credit history of cardholders.
All suppliers who already accept VISA will accept the College’s Purchasing Card.
The Purchasing Card cannot be used as a payment for the following items:
o Cash advances
o Alcoholic beverages (unless purchased in conjunction with official College business in accordance with Stonehill Travel and Entertainment policies)
o Gas (except for use with business rental cars and College owned vehicles, mileage reimbursement should be submitted for use of personal vehicle)
o Capital equipment ($3,000 or more) o Computer systems (CPUs with or without monitor) – IT personnel excluded o Construction & Renovations services o Consulting & Professional services
o Personal purchases
Please contact the Controller’s Office to determine if specific purchases are authorized for use with the Purchasing Card.
Failure to use the Purchasing Card in accordance with these policies may result in the revocation of Purchasing Card privileges and may include disciplinary action, up to and including termination of employment.
Please refer to the Stonehill College Purchasing Card Policies and Procedures Manual for detailed procedures relating to the Stonehill College Purchasing Card Program