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PURPOSE
Town of Truro Credit Cards are used generally where vendor invoicing is not available,
or use of the credit card is the most efficient method of paying for goods or services.
GENERAL
This guide provides the guidelines and procedures under which you may use your Credit
Card. Also included is information about the process, the types of purchases that are
allowable, and records that must be maintained and reconciled monthly.
The credit card is to be used for your or your departmental needs. Only the card holder,
or the card holder's delegate, can use the card. With the exception of the Director of
Finance and Chief Administrative Officer cards, which are used for some Town wide
purchases, the card is not transferable or to be used to make purchases for other
individuals or departments.
Use of the credit card is not intended to avoid or bypass the Purchasing Policy.
Transactions are not to be split or divided in any way to avoid the Purchasing Policy
guidelines.
You are responsible for the security of your card and the transactions made with the card.
The card is issued in your name and it will be assumed that any purchases made with the
card will have been made or authorized by you.
Acquiring cash advances on the card is strictly prohibited.
Following are examples where the credit card may be used. In all cases, all Town
Policies, and specifically the Town's Purchasing Policy, must be followed, and a
purchase order must be processed at the time of the purchase to initiate the timely and
appropriate posting to the accounts.
- Generally, where the vendor will not provide an invoice to be paid by cheque
through the Town's normal payables process, and the amount of the purchase
before tax is under $500;
Town of Truro - Policy & Procedure Manual
Subject:
Credit Cards - Guidelines and Procedures
Policy Number:
P100-019
Approval Date:
February 4, 2013
Departments:
All Departments
- Purchases over $500 but under $1,000, before tax, where credit card is determined
by the Director of Finance to be the most effective method of payment;
- Purchases over $1,000, before tax, where approval has been received from the
Chief Administrative Officer ;
- Hotel reservations under the Travel and Conference Policy;
- Airfare reservations under the Travel and Conference Policy;
- Purchases involving US Funds.
The credit card may not be used for:
Expenses, including mileage, meals, miscellaneous, that would be paid to the card
holder using expense requisition forms under the Travel and Conference Policy
(exceptions are eligible parking and toll expenses, and gas for Town vehicles);
Personal purchases.
If a credit card is used for either one of the purposes listed above, the cardholder will be
issued a "first warning" and reimbursement of the expenses will be made immediately.
If a credit card is misused a second time following a first warning, the cardholder's credit
card will be cancelled and reimbursement of the expenses will be made immediately.
The cardholder will not receive any payments from the Town, including pay cheques or
expense cheques, until reimbursement has been made.
RECONCILIATION AND PAYMENT
Record-keeping is essential to ensure the success of this program. This is not an
extraordinary requirement as standard policies require retention and reconciliation of
invoices, which are retained for your protection.
Each time the credit card is used, an entry should be made on your Monthly Report,
listing the date, vendor, total amount, purpose of the purchase, and purchase order
number. Mark on the invoice that the purchase is by credit card, and attach the invoice
and credit card slip to the monthly report.
Attach all invoices and receipts for goods and services to your Monthly Report. If you
purchase via phone, mail, email, or the internet, make sure you ask the vendor for an
invoice and credit card receipt.
Invoices and Receipts must show breakdown of items purchased and HST. Invoices and
receipts should clearly identify what was purchased and for what purpose so that an audit
can determine proper use quickly without further explanation. Please make a note on the
invoice and receipt explaining the purchase and purpose of the purchase, if it is not
obvious. If you have lost an invoice or receipt, include a note explaining the purchase.
Forward your completed and signed Credit Card Monthly Report, ending the 27th of each
month, with invoices and receipts attached, to the Payables Clerk, by the end of each
month, for processing.
The Payables Clerk will receive the monthly statement identifying each transaction made
against the card during the billing cycle. The Payables Clerk will reconcile your monthly
statement to your signed monthly report, and report any non-compliance to the Director
of Finance.
There may be occasions where transactions on the monthly credit card statement do not
agree with the entries on your monthly report, you may not have made the transaction or
the amount of the transaction is incorrect. You may be asked to contact the vendor to
assist in resolving any discrepancy.
Where the card holder does not believe he/she has made the transaction, the Accounts
Payable Clerk will contact the credit card company to request a copy of the transaction
authorization and other documents, and log a possible dispute.
LOST OR STOLEN CARDS
The credit card is Town of Truro property and should be secured just as you would secure
your personal credit cards. If your card is lost or has been stolen, or if your number
becomes the knowledge of someone else without your consent: Contact the credit card
company immediately at 1-800-361-3361, and call or email details to the Director of
Finance. Once you have reported the card lost or stolen, your card will no longer be
accepted at any vendor. Prompt action in these circumstances can reduce the Town of
Truro's liability for fraudulent charges.
I acknowledge that I have read and agree to follow these guidelines and procedures
related to the use of credit cards
Card Holder Signature:
_________________________________
Card Holder Printed Name: _________________________________
Date:
_________________________________
Town of Truro Credit Card Monthly Report
Cardholder's Name: ________________________
Statement Date:
________________________
Credit Card Transaction Record
Date
(mm-dd-
yr)
Vendor
Amount
Purpose
PO #
(attach invoices and receipts)
________________________________
Cardholder Signature