Policy: 2.8 Credit Card Use Policy
Section: Finance
1.Purpose
The purpose of this policy is to establish clear guidelines for the use of a Northern Association of Community Councils Inc. (NACC) issued corporate credit cards to ensure responsible and authorized expenditures. This policy aims to prevent misuse of organizational resources, promote financial accountability, and ensure that all credit card transactions are properly documented and within approved limits.
2. Authority
Under NACC By-laws, directors may adopt, amend, or repeal policies relating to the governance, management, operation, and affairs of the Corporation that are not inconsistent with the NACC’s By-laws, as the directors may deem appropriate from time to time.
3. Policy
a) Only staff members with Authority to Purchase are authorized to use corporate credit cards.
b) Expenditures being charged to a corporate credit card cannot exceed the purchase limit of the staff member.
c) Receipts for all purchases on a corporate credit card must be submitted to the Executive Assistant.
d) Personal use of corporate credit cards is strictly prohibited.
4. Monitoring and Review
This policy will be reviewed every two (2) years by the Executive Committee or more frequently if required to ensure compliance with any changes in employment standards to ensure its continued relevance and alignment with the NACC’s operations. Changes to the policy will be documented and communicated to the Board for approval.
5. Board Acceptance
This policy will be approved by the Board of Directors. The President / Chair of the Board will sign and date the policy to indicate its approval and adoption.
Reviewed: June 23, 2025
Revisions Approved: June 23, 2025