Accounts Payable Policy
College policy allows payment for business related expenses. the College qualifies as a not-for-profit entity under Section 501 (c) (3) of the IRS guidelines and therefore must ensure expenses qualify as a business expense. Federal and private grants require specific payment and reimbursement terms. The IRS also has strict guidelines for employee reimbursement requirements that the College must follow.
Departments needing payments for honoraria or non-travel related reimbursement should complete a Check Request (click here for form), attach supporting documentation (contract or original acceptable receipts/proof of payment), have the request approved by the appropriate vice president or department head, and submit it to the Accounts Payable department in Financial Services, Bresee Hall. The business office requires original signatures for auditing purposes. Please note, you cannot approve reimbursement to yourself or your immediate family.
Departments or individuals needing travel advances should submit a Travel Advance Request (click here for form) five businesss days prior to needing the funds, have the request approved by the appropriate vice president and submit it to Accounts Payable. Travel advance requests are not to be used as reimbursement requests and should not be used to fund purchases that could otherwise be paid directly by the college such as airline tickets or hotels. Within fifteen days of completion of travel, a completed Travel Expense Report (click here for form) along with original receipts and any unused funds should be returned to the Cashier. If a balance is owed to the requestor the form and receipts should be returned to Accounts Payable.
All other goods or services purchased for the College require a Purchase Order. Submit to Purchasing a Material Requisition Form (click here for form) with appropriate documentation.
Employees who travel frequently on Hartwick College (College) business can request a College credit card (Card). The request for a Card, approved by his/her supervisor, should be submitted to the College’s Controller. Each individual Cardholder must sign this Cardholder agreement which will be retained in the Finance Office.
1. The Card is to be used for College business only.
2. All detailed sales slips must be submitted to Accounts Payable with the monthly statement received from the credit card company along with the College’s Expense Report within two weeks from the day the monthly statement was received at the address listed on the statement. The Expense Report must be approved by the Cardholder’s supervisor.
a. Cardholders are responsible to verify the accuracy of their statement
b. Attempt to resolve disputes or billing errors directly with the vendor and notify the Finance Office if a dispute or billing error that has not been satisfactorily resolved
c. Ensure that an appropriate credit for the reported disputed items or billing error appears on a subsequent billing statement.
d. Accepting cash in lieu of a credit to the Card account is not permitted
3. Other individuals are not allowed to use the Card.
4. Immediately report a lost or stolen card to the Finance Office.
5. Return the Card to the Finance Office upon terminating employment or if the Card is no longer needed for the employee’s position.
Payment will be made directly to the credit card company by the Finance Office each month. Late fees incurred because the monthly statement and accompanying Expense Report were not submitted on a timely basis will be the responsibility of the Cardholder.
A credit card account will be closed if a Cardholder:
1. Moves to a new job not requiring travel or no longer needs a Card in their current position. (i.e. after completion of J-term programs)
2. Terminates College employment
3. Fails to produce receipts or documentation in a timely manner
4. Personal use of the credit card
Petty Cash Policy:
Petty Cash can be administered as per the following guidelines; however, reimbursement of expenses is preferred over petty cash. Whenever possible, please complete transactions and request reimbursements.
Limit = $75.00 per day per department
PC Request forms must be complete, with full GL number, and approved/signed by department heads and faculty chairs.
Receipts and remaining cash are due back to the cashier by the end of the next business day. The college does not reimburse for sales tax if the purchase is over $10.00. Individual should request a tax exempt form if purchasing items subject to sales tax.
No further advances will be disbursed until previous receipts have been collected.
Petty Cash over $75.00 require a longer time allowance. (Please follow time frame for check requests). Please submit this request for petty cash to Director of Student Accounts. Form must again be completed in full, with entire GL number, purpose, date needed, signatures, etc. Expense reports are to be completed and returned to Accounts Payable, with any remaining cash returned to cashier.
This policy is subject to periodic review or modification based on changing business issues and external guideline or regulations. Any changes to the policy will be made directly within this online document.