Effective Date: June 20, 2023
Last Reviewed: June 20, 2023
Stonehill College has a purchasing card program which is specifically designed to increase efficiency in processing selected low dollar purchases of goods and travel related expenses. The card is authorized for employees with significant buying volume of low dollar items or employees where frequent travel is required in the performance of their job. When used for approved purchases, the card can replace Check Request Forms, Travel Advances, and Expense Reimbursement Forms. The purchasing card cannot be used for payment of services (i.e., consultants or business service).
Purchasing cards are available to active members of Stonehill College whose job responsibilities fit the authorization criteria. To determine eligibility an employee completes an online application with a justification as to why they require a card. The application must be approved by the department head, divisional vice president and the finance office. Before receiving a card, employees must read the card guidelines and complete the training requirements to determine they understand the responsibilities and restrictions that come with having a card. They must also accept and sign the terms and conditions of the cardholders’ credit card.
Specific controls and limitations are built into the card program. Those controls include dollar limitations, transaction limitation, as well as specific categories of merchants. The purchasing card guideline outline types of restrictive purchases that are not permitted on the card. (i.e., personal purchases, firearms, computer equipment, software purchases)
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.
Participation in the purchasing card program is considered a privilege that carries the responsibility to ensure appropriate use and stewardship of college funds. Inappropriate use of the purchasing card may result in the loss of the card privileges, and disciplinary action up to and including termination of employment. Fraudulent use may additionally result in criminal prosecution. The cardholder/custodian or card user will be held personally liable for all unauthorized purchases.