Procurement Credit Card Policy and Procedure

arrow_circle_left Back to All Policies

TBR Policy Reference: 4.02.10.10

Approved by: President's Cabinet

Original Date Effective: 2014-06-20

Last Modified: 2023-11-06

I. MasterCard Procedures:

 General Information:

 Jackson State Community College has two (2) MasterCard credit card accounts: a primary card and an athletic card. The Executive Aide to the Vice President for Financial and Administrative Affairs is responsible for securing the College’s primary MasterCard credit card. Accounts Payable is responsible for reconciling the monthly MasterCard statement.

The Athletic Director is responsible for securing one (1) athletic MasterCard credit card. The monthly statement for the Athletic Director’s MasterCard is reconciled by Accounts Payable. The single transaction spending limit on College’s primary MasterCard is $10000, and the single transaction spending limit on the Athletic MasterCard is $3000.

Purchases Eligible for Primary MasterCard Use:

 The majority of items JSCC would approve for purchase can be obtained using the MasterCard. However, there are a few exceptions:

  1. Travel: Using the JSCC MasterCard for employee travel is not permissible. Use of the JSCC MasterCard for student travel is permitted only with prior written permission from the Vice President of Financial and Administrative Affairs. Except for an employee traveling with a student group, employees may not use the JSCC MasterCard to reserve hotel rooms unless they have received prior written approval from the Vice President of Financial and Administrative Affairs.
  1. Food: Food purchases should only be charged on the MasterCard when the vendor will not accept a Purchase Order (PO) for bill payment. If this should occur, the rules for purchasing food still apply, including preparing a purchase request and food request form, obtaining appropriate signatures, and assigning a PO number before the MasterCard may be used.

An exception to these rules has been made for the MasterCard assigned to the Athletic Director. Purchases for team travel and other related expenses can be charged on the Athletic MasterCard as needed.

Purchases Specifically Prohibited or Requiring Special Approval: 

  1. Sales Tax -
    1. Charging sales tax on general JSCC Purchases is prohibited.
    2. Exceptions - Sales tax must be paid on purchasing items that will be resold to the general public (for example: concession items purchased to resell at JSCC athletic events). Sales tax must also be paid on Agency/Club Accounts purchases.
  1. Receiving cash withdrawals from cards is strictly prohibited.
  1. Purchases of printers or hazardous materials must be pre-approved (via the standard Purchase Requisition signatures), and a Purchase Order must be issued before they may be charged on the MasterCard, even if the purchase will be less than $100
  1. JSCC employees are not allowed to process their MasterCard payments through any PAYPAL Account unless they have received prior approval from the Executive Aide to the Vice President of Financial and Administrative Services. The employee must ensure that a PAYPAL account is not used on their MasterCard transactions unless they have received the proper prior approval.
  1. JSCC MasterCard purchases cannot be made on eBay. EBAY’s multiple-vendor business model is not a secure platform for JSCC MasterCard transactions.

Procedures for Primary MasterCard Use:

 Employees may contact the Executive Aide to the Vice President for Financial and Administrative Affairs to reserve the MasterCard. This may be done by phone or e-mail. The card is reserved on a first-come, first-serve basis.

All MasterCard purchases over $100 require a Purchase Order (PO) to be issued. A Purchase Requisition must first be entered and approved in the Jaggaer/SciQuest system, and a PO number must be assigned before an employee can check out the MasterCard 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). For conference registration fee payments, a fully approved/signed Travel Authorization Form must be issued before an employee can check out the MasterCard to pay for the registration fees.

MasterCard purchases of $100 or less do not require a PO; the employee must only sign out the card to complete the purchase transaction. (NOTE - A Check Request should not be issued for MasterCard purchases of $100 or less where no PO was issued).

When the card is returned to the Executive Aide to the Vice President for Financial and Administrative Affairs, the employee must give all receipts obtained during the charge transaction to the Executive Aide. The employee must list the PO# on these receipts, or if no PO was issued, then the complete FOAP (Fund#, Org#, Acct#, and Program#) must be listed on these receipts.

JSCC expects both the card and the purchase receipts to be turned in together and for the Employee to sign and list the date and time the card was returned on Credit Card Sign-Out Sheet.

The Executive Aide to the Vice President for Financial and Administrative Affairs will file the receipts until the month-end MasterCard Statement is received from the Business Office Manager and/or Accounts Payable.

MasterCard Security Procedures: 

  1. The primary MasterCard may only be checked out by JSCC employees. Students are not allowed to check out or use the JSCC MaasterCard.
  1. When checked out, the MasterCard must remain in the possession of the JSCC employee that is was originally issued to at all times until it has been properly returned.
  1. The JSCC employee that initially checked out the MasterCard must personally return the card and all receipts to the Executive Aide to the Vice President for Financial and Administrative Affairs. The MasterCard and receipts may not be returned by another employee, student, and visitor or by campus mail. The MasterCard cannot be returned if no one is present in the Office of the Vice President for Financial and Administrative Affairs. Under no circumstances should the card be left unattended.
  1. When not in use, the JSCC MasterCard should remain under lock and key.

Procedures for the Athletic MasterCard Use: 

Athletic team travel-related expenses may be charged to the Athletic Director’s MasterCard as needed. The Athletic Director will issue a Purchase Requisition at the beginning of each month based on the estimated Athletic expenses charged on the Athletic MasterCard 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 JSCC MasterCards are available on the “Access US Bank.com” website after the monthly statement closes.  The JSCC MasterCard statement is scheduled to close on the 6th or 7th of each month.  If the 6th and/or 7th of the month falls on the weekend, then the JSCC MasterCard statement will close on the 8th of the month. US Bank also mails copies of both JSCC MasterCard Statements to JSCC. The Business Office Manager will print a copy of each MasterCard Statement and the combined master statement. The Business Office Manager and/or Accounts Payable will give a copy of the JSCC Primary MasterCard Statement to the Executive Aide to the Vice President for Financial and Administrative Affairs, and the Business Office Manager and/or Accounts Payable will email a copy of the Athletic Dept—MasterCard Statement to the JSCC Athletic Director.

To verify the statement, the Executive Aide to the Vice President for Financial and Administrative Affairs will match the receipts to the corresponding charge listed on the MasterCard Statement for the JSCC primary MasterCard Account. The Executive Aide will verify that either the correct PO# is listed on the receipts and a copy of the PO is attached, or that the FOAP# is listed on receipts where no PO was issued. The Executive Aide will give all receipts to Accounts Payable to complete the statement reconciliation. The Executive Aide will also give a copy of the monthly MasterCard Sign Out Sheet and a copy of the MasterCard Statement to Accounts Payable. The Executive Aide will sign and date the statement.

The Accounts Payable reconciles/balances each charge listed on the MasterCard statement to the corresponding receipt and ensures that a copy of the PO is attached to the receipt or that the complete FOAP # is listed on receipts where no PO was issued. Once the monthly statements have been balanced, an Excel spreadsheet identifying the amounts to be charged to each FOAP# is prepared by Accounts Payable and forwarded to the JSCC Cash Manager.

Once the month’s MasterCard Statement reconciliation is complete, Accounts Payable will save the documentation on the shared drive for the JSCC Cash Manager to access. This packet will include 3 smaller packets as follows:

  1. Summary MasterCard Statement and summary Excel spreadsheet.
  2. Primary Campus MasterCard Statement and summary Excel spreadsheet, which will also include:
    1. All receipts and receipt support documents (PO’s, ).
    2. A copy of the monthly card sign-out sheet.
    3. A copy of the verified Primary MasterCard Stetement.
  3. Athletic MasterCard Statement and summary Excel spreadsheet, which will also include:
    1. All receipts and receipt support documents (PO’s, etc.).
    2. A copy of the verified Athletic MasterCard Statement.

The JSCC Cash Manager prepares a journal voucher detailing the charges of the ACH debit. The ACH debit occurs directly from US Bank to Jackson State Community College’s General Operating Bank account approximately 14 or 15 days after the Statement closing date every month.

Misuse of the MasterCard: 

Use of the MasterCard 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.

Credit Card Sign-Out Sheet

By signing for the MasterCard, you are agreeing to the following statement concerning misuse of the Card and the consequences that apply:

Misuse of the MasterCard:

Use of the MasterCard 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)

Time/Date Returned

Sign In – Name

(check box when receipt is returned)

 

 

 

 

 

 

Time: __________

 

Date:  __________

                  

 

 

 

 

 

 

 

Time: __________

 

Date:  __________

                  

 

 

 

 

 

 

 

Time: __________

 

Date:  __________

                  

 

 

 

 

 

 

 

Time: __________

 

Date:  __________

                  

 

 

 

 

 

 

 

Time: __________

 

Date:  __________

                  

 

 

 

 

 

 

 

Time: __________

 

Date:  __________

                  

 

 

 

 

 

 

 

Time: __________

 

Date:  __________

                  

 

 

 

 

 

 

 

Time: __________

 

Date:  __________

                  

 

 

 

 

 

 

 

Time: __________

 

Date:  __________