The Controller
is authorized to issue, suspend, cancel and set transaction limits for
University purchasing cards up to $25,000 per transaction and up to
$25,000 per month.
The Vice-President
Administration may set limits over $25,000 per transaction and over
$25,000 per month.
The Controller
is authorized to configure cards to block certain merchant codes for
purposes such as to prevent transactions with industries with a higher
than acceptable risk of card fraud.
|
| 3.1 |
Use
of the Card |
| |
| 3.1.1 |
The
Controller may issue a Purchasing Card upon application by an
employee approved by the appropriate manager or grant holder.
Before a Purchasing Card is issued, the recipient must complete
the "Purchasing Card Application" form (Appendix A),
and must read and sign the "Employee Acknowledgment of
Responsibilities and Obligations for the Use of the US Bank
Canada Visa Purchasing Card" form (Appendix B). |
| |
|
| 3.1.2 |
Cards
are assigned for use by the Cardholder only and must not be
used by any other person. |
| |
|
| 3.1.3 |
All
charges to the card will be paid by the University and will
be charged to the general ledger account noted on the Purchasing
Card application unless a different account has been included
on the monthly card reconciliation report. |
| |
|
| 3.1.4 |
If
the Controller so requests, a Cardholder will immediately return
his or her Purchasing Card to the Financial Services Department. |
| |
|
| 3.1.5 |
If
a Cardholder ceases to be an employee or changes his or her
position the Cardholder’s Purchasing Card will be cancelled
and the Cardholder will immediately return his or her Card to
the Financial Services Department. |
| |
|
| 3.1.6 |
A
Purchasing Card may only be used to make purchases for the University. |
|
| |
|
| 3.2 |
Guidelines |
| |
| 3.2.1 |
A
Purchasing Card may only be used for transactions up to the
approved transaction limit including delivery charges and taxes,
and up to the approved total limit per month. Invoices which
exceed the per transaction limit may not be split to create
two or more credit card transactions that do not exceed that
limit. |
| |
|
| 3.2.2
|
Cardholders
will instruct suppliers to ship goods to Mount Allison
University, Central Receiving, 10 King St, Sackville, NB Canada,
E4L 1A3 and to record on the outside of the package
and on all packing documents and correspondence the Cardholder's
name and the words "Paid by Visa",
but not to record the Visa number on either the package or any
documents. |
| |
|
| 3.2.3
|
A
Purchasing Card will not be used to |
| |
- purchase
goods or services from any University employee or any member
of any employee's family,
- obtain
cash, purchase alcohol, narcotics, radioactive materials
and other hazardous materials,
- purchase
computer hardware
- purchase
laboratory or research animals,
- lease
or rent equipment including wireless phones, internet services
or any services that continue for longer than 60 days, or
- pay
salaries, wages or consulting fees,
|
| |
Notwithstanding
the above, the Controller may in special circumstances configure
a Purchasing Card so that it may be used to purchase any of
the above goods or services. |
| |
|
| 3.2.4 |
The Purchasing Card may be used for purchases outside Canada.
However, in such cases the Cardholder must inform Financial
Services of any pending delivery of goods from outside of Canada
and the details of the purchase of those goods. |
| |
|
| 3.2.5 |
If goods purchased using a Purchasing Card are returned, it
is the Cardholder’s responsible to return those goods
and to ensure that a credit is placed on the Purchasing Card. |
| |
|
| 3.2.6 |
Cardholders
must either have the shipping costs absorbed by the supplier
or have the supplier include the costs on the invoice so that
those costs are included in the amount that is charged to the
card. |
| |
|
| 3.2.7
|
Cardholders
will require the supplier to provide proof of purchase (i.e.,
a supplier invoice, itemized sales slip etc.) for each purchase. |
| |
|
| 3.2.8
|
Cardholders
should advise suppliers that full billing cannot occur until
full shipment is made. If partial shipment is made, billing
for that portion of the order may be processed. |
|
| |
|
| 3.3 |
Liability |
| |
Liability
for payment of charges on the Purchasing Card rests with the University
except for purchases that have been made in violation of this Policy. |
| |
|
| 3.4 |
Lost
or Stolen Card |
| |
**The
Cardholder must report a lost or stolen Purchasing Card** immediately
both to the US Bank Canada at 800-588-8067 or at (416) 306-3636
(This number may be reached 24 hours per day and seven days per week)
and to the Mount Allison Purchasing Manager. |
| |
|
| 3.5 |
Monthly
Billing Procedures |
| |
| 3.5.1 |
Final
detailed statements will be available on the US Bank Canada
website by the 6th day of each month, or by the next working
day if the 6th day falls on a non-working day. Cardholders will
then receive an email message advising that the billing cycle
has closed and the statements are ready to be verified. Cardholders
who will be absent from the University on the day the statements
will be available will find interim information on the website
that may be adequate for verifying transactions as per section
3.6.2 3 below and will provide Financial Services with an interim
statement before departure from the campus. |
| |
|
| 3.5.2
|
Each
Cardholder's monthly credit limit will be restored to its full
value when he or she provides Financial Services with the final
statement for the prior month. |
| |
|
| 3.5.3 |
By the 10th day of each month, the Cardholder will |
| |
| a) |
verify the transactions on the statement for the previous
month by attaching seller’s invoice to the card
statement, |
| b) |
verify and populate the software with the taxes related
to the transaction, |
| c) |
verify the transactions by account number(s); |
| d) |
attach proof of purchase documents arranged in the order
as the purchases are listed on the statement; |
| e) |
sign the statement; |
| f)
|
when
the cardholder makes purchases charged to accounts for
which the cardholder is not an authorized signing officer
the appropriate signing officer must approve the charge
by signing the statement or providing other evidence of
authorization (e-mail, etc.), and |
| g) |
forward the documents to Accounts Payable at Financial
Services. |
|
| |
|
| 3.5.4 |
The University shall pay the account in full on or about the
15th of the month |
| |
|
| 3.5.5 |
Transactions will be charged to the GL account number provided
on the employee application form unless the cardholder informs
Financial Services in writing to charge the expenses to an another
GL account |
|
| |
|
| 4. |
Disputed Items |
| |
| 4.1 |
Any
errors on a monthly statement, such as incorrect amounts or
duplicate charges, must be reported by the Cardholder as soon
as possible during normal working hours to the US Bank Canada
by phone at 800-588-8065, or by facsimile at 888-974-3464, and
to Financial Services. |
| |
|
| |
| 4.2.1 |
When
there are such errors the cardholder must, |
| |
| a) |
contact the supplier; |
| b) |
if the supplier cannot demonstrate that there is
no error, have the supplier credit the account;
and |
| c) |
if the supplier will not credit the account within
60 days after the date of the first statement on
which the disputed charge occurred send the Cardholder
Dispute Form (Appendix C) and any necessary documentation
by facsimile to US Bank Canada at 888- 974-3464. |
|
| |
The
US Bank Canada will research any disputed charges and
make necessary adjustments. Amounts will remain charged
to the appropriate GL account until the matter is settled. |
|
|
| |
|
| 5. |
Accountability |
| |
A Cardholder
summary will be provided annually to the Vice President Administration.
This summary will include a list of cards issued, cancelled or suspended
and changes in any Cardholder limits or blocking. |
| |
|
| 6. |
Inquiries |
| |
| 6.1 |
Inquiries related to using a card or applying for a card should
be directed to the Purchasing Manager at 364-2294 or purchasing@mta.ca. |
| |
|
| 6.2 |
Inquiries related to Cardholder statements should be directed
to the Accounts Payable Technician at 364-2443. |
|
|
