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Reimbursement Policy (Drafted by Councilmember Stoesz) <br /> <br />•Employees who are incurring expenses on behalf of Lino Lakes must obtain a Corporate Credit <br />Card for reimbursement. <br />•Expenditures done on behalf of the city but not on a city issued credit card may not be <br />reimbursed unless an emergency exists and pre-approval of expenditure. No expenditure greater <br />than $250 will be approved. These expenditures will be made public and given to the City <br />Council for review and explanation. <br />•All cash advances must be done by the City Finance director or delegate and all expenditures <br />will be considered public and given to the City Council for review and explanation. <br />•Any credit card or personal benefits from any use of city funds must be paid back to the city. ie <br />Credit card miles, cash back, Buy One Get One, punch cards, hotel benefits, and other benefits <br />gained because of city spend activity. <br />•Employees are responsible for timely reconciliation of monthly statements. <br />•Employees are responsible for the payment of all incidental personal charges incurred on their <br />card. <br />•Credit limits are determined and maintained the city Finance Director. Credit amounts are <br />actively maintained and actions to decrease or increase limits are based on the cardholder's <br />purchases, payments and personal credit history. <br />•Late fees are the financial responsibility of the card holder and will not be possible for <br />reimbursement. <br />•Card balances are due in full by the 27th of each month. Charges aging beyond 60 days will <br />result in account suspension and assessment of late fees. <br />•Charges aging beyond 90 days will result in account closure and will continue to receive late <br />fees. <br />•Charges aging beyond 120 days will result in the account being revoked. <br />•A charge-off of a card account will be reported to the Credit Bureaus, adversely impacting one's <br />personal credit. <br />•Corporate card accounts with no purchase activity for 15 months are closed automatically to <br />reduce risk to card holders and to the city. <br />•Employees are responsible for the final reconciliation of their statement, in coordination with <br />their manager to ensure processing of valid expenses, when they no longer require a Corporate <br />Card or are no longer a city employee. <br />•Purchase of software and hardware is not allowed with corporate credit cards.