Central Office Travel and Credit Card Use Policy

Effective Date:

January 1, 2020

Supersedes:

None

Policy Review Date:

3 years from effective date

Issuing Authority:

Research Foundation President

Policy Owner:

Chief Financial Officer (CFO)

Contact Information:

518-434-7050

rffinance@rfsuny.org

Reason for Policy

Research Foundation (RF) has a Credit Card Programs Policy and a comprehensive Travel Handbook which describe restrictions and provide guidance to cardholders and RF employees engaged in or acting in support of RF business travel. This Central Office (CO) Policy describes further restrictions and guidance for CO employees.

Statement of Policy

RF CO employees are required to follow the guidance and adhere to the additional restrictions related to travel and credit card usage that are outlined in this Policy.

Travel Card

RF CO employees that are required to travel in order to carry out RF business are encouraged to obtain a Bank of America Travel Card and charge to it all travel related expenses. Applicants for the Travel Card must sign the RF Travel Card Agreement.

Recommended Uses

The Travel Card should be used for the following purchases:

Transportation

Travelers are expected to travel by the method most conducive to achieving the objectives of the trip while balancing cost, time and safety. RF CO employees must abide by these additional restrictions:

Travel Expense Reimbursement Request Submission Deadline

The submission deadline for travel expense reimbursements will be 45 calendar days from the date of return from the travel. In the event that an expense report cannot be submitted within this timeframe, a completed Travel Waiver Form (CO Only) will be required.

Purchasing

Purchasing Card (P-Card)

The individual responsible for the P-Card must sign the RF Purchasing (P-Card) Administrator Agreement Form and safeguard the card against use by unauthorized individuals by placing it in a secure location. Additionally, there should be no photocopying of the P-card to eliminate potential fraud.

Recommended Uses

The P-Card should be used for the following:

Unauthorized Uses

The P-Card may not be used for the following:

Reconciliation Deadline and Follow-up The P-Card reconciliation is due within 30 calendar days from receipt of the statement. Escalation, if necessary, will occur as follows:

Failure to meet the deadline above may result in revocation of P-Card privileges.

Responsibilities

The following table outlines the responsibilities for compliance with this Policy:

Responsible Party

Responsibility

Every individual who initiates, processes, reviews, approves or records financial transactions on behalf of the RF.

Responsible for complying with and administering this policy.

Definitions

None

Related Information

RF Travel Handbook

Credit Card Program Policy

Forms

RF Travel Card Agreement Form

RF Purchasing (P-Card) Administrator Agreement Form

Bank of America Reconciliation Form

CO Transportation Justification Form

Travel Waiver Form (CO Only)

Change History

Date

Summary of Change

January 1, 2020

Created new policy for RF Central Office Only

 

 

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