Corporate Card

Skip to content Skip to main navigation
Teachers College, Columbia University
Printer-friendly Version
Teachers College, Columbia University Logo
Policy Library

Teachers College Policy Library

Corporate Card

Owner: Controller

URL: http://www.tc.columbia.edu/policylibrary/Corporate Card

1. PURPOSE 

The American Express (AMEX) Corporate Card provides College employees with a convenient method of payment for College-approved travel and travel-related expenses, business related entertainment and other acceptable general business expenses. This policy is intended to inform employees how to apply for an AMEX Corporate Card, when to use it and the procedures to be followed in obtaining reimbursement of card expenses incurred in the performance of their College-related responsibilities. 

 

2. CORPORATE CARD 

 

2.1 Availability of the Corporate American Express Card 

Teachers College will provide, upon request, an American Express Corporate Card free of charge to Teachers College employees who are in departments requiring a significant degree of College- approved travel, and who are authorized to receive one by their department head. 

 

2.2 How to Obtain a Corporate American Express Card 

 

All academic department heads should send an email request to the College Dean or the President’s Office. All non-academic department requests should be forwarded to the VP for Finance & Administration. All Development department requests should be forwarded to the VP of Development. Once reviewed and approved, all requests will be forwarded to the Office of the Controller for review and submission to American Express. After receiving credit approval, American Express will issue a Corporate Card. The usual processing time is approximately three weeks after applications are submitted. The Office of the Controller will notify employees when their AMEX cards are available for pick-up. 

 

2.3 Use of Corporate Card 

 

The Corporate Card should be used for College-approved travel and related expenses including transportation, lodging, car rentals, meal costs, and may also be used for business related entertainment and other acceptable general business expenses when payment via check is not an acceptable or viable form of payment. 

 

2.4 Terms of AMEX Agreement 

 

Cardholders must read and comply with all terms and conditions stated in the disclosure agreement accompanying the card. Under the Corporate Card program, monthly statements from American Express are mailed directly to cardholders. Employees are responsible for paying, upon receipt, all charges on their Corporate Card. The College will not pay American Express directly. The Accounts Payable office will reimburse the employee for travel and travel-related expenses (see Section 

3 for procedures for reimbursement). An account becomes delinquent if payment has 

not been received and credited to the account by American Express within 30 days of the statement billing date. Late payment fees or interest charges resulting from late payment are not reimbursable by Teachers College. The Corporate Card may be canceled at any time due to payment delinquency. Individuals whose cards have been canceled due to non-payment of charges will not be allowed to rejoin the program. 

 

2.5 Surrendering the Card upon Termination of Employment 

 

The Corporate Card is the property of the College. When a cardholder’s employment is terminated with the College, the cardholder must cut the card in half and return the halves to his/her department head/supervisor. It is the responsibility of the department to return the card halves to the Office of the Controller so that the card can be canceled and any outstanding balance settled. This must be done before issuance of the individual’s final paycheck. Should a balance exist and/or expenses charged to the card after an employee’s termination, and for which the employee does not remit payment to AMEX, the department will be charged for such expenses. If such situation is recurring, the department’s Corporate Card privileges will be revoked. 

 

2.6 Non-Travel Purchases 

 

The card should not be used to purchase computers, furniture, equipment or supplies. College purchasing policies and procedures (including the Computer Purchasing Procedures) should be followed for such purchases. 

 

2.7 Personal Charges 

 

The Corporate Card is intended to be used for College business only. Personal expenses should be charged to personal credit cards. American Express makes available to the College monthly detail reports of all charges made against the Corporate AMEX card. If it is reported that personal charges have been incurred with the Corporate Card, the card may be canceled. 

 

2.8 Lost or Stolen Cards 

 

Lost or stolen cards should be reported immediately to American Express at 1-800-528-2122. 

 

3. REIMBURSEMENT OF CORPORATE CARD EXPENSES 

 

3.1 Documentation Standards 

The Internal Revenue Code requires reimbursable expenditures to be supported by adequate records which clearly establish that they are (1) ordinary and necessary, (2) reasonable in amount and (3) incurred for a valid business purpose. In order for expenses charged to the AMEX card to be reimbursed by the College, they must be incurred for College-approved travel and related expenses, business related entertainment, and other acceptable general business related expenses, and must also meet the documentation standards set forth herein. All expenses must be incurred in accordance with the College’s expense reimbursement policies. 

 

To comply with IRS requirements, the following criteria must be met to qualify for reimbursement: 

 

    • The identity of the vendor or supplier must be indicated. 
    • The business purpose for the expenditure must be stated. 
    • The identity and business relationship of others participating in the event (e.g., business meal) covered by the expenditure must be stated. 
    • Original itemized receipts must be attached (e.g., itemized hotel bills, airline passenger receipt coupons, automobile rental invoices, parking receipts, and telephone bills) for all expense items regardless of amount, except that receipts are not required for expenses under $25 (such as taxi fares, tolls, etc.). Photocopies of receipts will not be accepted. Substitute or incompletely documented receipts will not be accepted and reimbursement will be disallowed (e.g., guest check stubs, receipts without dates). Reimbursements will not be made solely upon the submission of the AMEX statement. 

 

3.2 Reimbursement Procedures 

 

Reimbursable expenditures must be supported by documentation attached to a completed Travel/Business Expense Reimbursement Report (TBER) and a Check Request Form. The documentation should be presented in an orderly fashion. The preferred method is to affix receipts to one or more sheets of standard 8-1/2" x 11" paper and to include explanations and cross references in the margins. In all cases, there must be a clear trail from the receipted amounts to the amounts claimed on the expense report. The TBER and Check Request must be reviewed and signed by the employee’s supervisor or department head. 

 

3.3 Reimbursement Timetable 

 

In order to allow for timely reimbursement of expenses, the TBER should be submitted as soon as the employee returns from travel, but no later than ten working days of the date of travel or the incurrence of the expense to the Accounts Payable Office, Room 303 Zankel Hall. Reimbursements will be made within five working days of the date of receipt by the Accounts Payable Office, provided documentation is submitted in accordance with the documentation standards outlined herein, and there are funds available in the department's budget. Department heads and supervisors can help to expedite the reimbursement process by checking for adequte documentation and the availability of funding before submitting to Accounts Payable.

303, Zankel Hall. Reimbursements will be made within five working days of the date of receipt by the Accounts Payable Office, provided documentation is submitted in accordance with the documentation standards outlined herein, and there are funds available in the department’s budget. Department heads and supervisors can help to expedite the reimbursement process by checking for adequate documentation and the availability of funding before submitting to Accounts Payable. 

 

4.        CONTACTS 

 

Subject 

 

 

Contact 

 

 

Telephone 

Application Forms/Card Cancellation 

Office of the Controller 

(212) 678-3016 

Reimbursements 

Accounts Payable 

(212) 678-4096 

Customer Service 

American Express 

(800) 528-2122