OP 62.38: Corporate Credit Cards

 

[Moderate revision–posted 4/30/26 (replaces 2/20/24 edition)]
[PDF Version]

 

Operating Policy and Procedure

OP 62.38: Corporate Credit Cards

DATE: April 30, 2026

PURPOSE: The purpose of this Operating Policy/Procedure (OP) is to establish guidelines for the use of credit cards issued by the Texas Tech University System (TTUS). These cards will be issued only to members of the Board of Regents and senior management at Texas Tech University (TTU) and TTUS, including the Chancellor, the President, vice chancellors, vice presidents, and others as determined by the appropriate chief fiscal officers, to be used for the purpose of charging expenses to be paid from institutional funds.

REVIEW: This OP will be reviewed every two years after publication by the TTUS Chief Financial Officer, the TTU Senior Vice President for Administration & Finance and Chief Financial Officer, and the TTU Assistant Vice President and Chief Procurement Officer with substantive revisions forwarded to the Chancellor.

GUIDELINES

1.  Members of the Board of Regents, the Chancellor, and the TTU President may be issued authorized cards with a credit limit, as appropriate, not to exceed $15,000. Senior management may be issued authorized cards upon written approval of the Chief Financial Officer (TTU or TTUS as appropriate) with a credit limit, as appropriate, not to exceed $10,000. Each chief fiscal officer, when needed, may grant temporary or permanent exceptions to the limit. Procurement Services shall retain documentation of such exceptions in accordance with retention policies. Such limits shall be monitored to ensure that the TTU System credit limit is not impacted and that cardholders comply with operating policies and State of Texas requirements. The purpose of issuing these credit cards is for the convenience of the individual to whom it is issued and to reduce the number of expense vouchers for small-dollar purchases.

2.  These cards are to be issued only for business-related travel or for allowable and compliant retail purchases. Services are generally not allowable because of IRS requirements. No cash advances for any purpose are allowed against these credit cards. Violating the cash advance provision may result in immediate suspension of the credit card privilege and cancellation of the card.

3.  All expenditures on corporate credit cards must comply with TTU/TTUS procurement policies and travel policies, and the funding source must allow the expenditure type.

4.  Corporate credit cards may not be lent to others for use. The executive is responsible for all charges on the card.

5.  The monthly credit card statements will be provided to the financial officers and their reconcilers.

6.  After payment of the monthly billing, the statement to the official, as appropriate, or the Board of Regents office will provide a cost distribution and business justification for all charges with the original credit card receipt in Emburse for reconciliation. If the credit card receipt is not available, it should be noted with an appropriate explanation on the missing receipt form. The card is not to be used for personal purposes; however, should any de minimis charge to the credit card be of a personal nature, the officer must so indicate and include a personal check to TTU/TTUS for reimbursement of the amount.

7.  Should any cardholder become delinquent in the reimbursement by more than one month, the cardholder and the appropriate chief financial officer will be notified of the delinquency in submitting the required forms. Should a cardholder become delinquent by two or more months, the Chancellor or the President, as appropriate, will be notified by the appropriate chief fiscal officer, and the card may be temporarily suspended.

Failure to correct an ongoing delinquency may result in a recommendation by the chief fiscal officer to the Chancellor or the President, as appropriate, for cancellation of the individual corporate credit card.

For assistance with executive credit cards, please email Procurement Services at executivecard@ttu.edu.

OP Categories

• 01 Chancellor
• 02 Development
• 04 Audit Services
• 10 President
• 30 Academic and Student Affairs – General
• 32 Academic Policies – Faculty
• 34 Academic Policies – Students
• 36 Academic Programs
• 40 Institutional Compliance
• 48 Communication Services
• 52 Information Technology
• 60 Environmental Health and Safety
• 61 Facilities Management
• 62 Financial and Accounting
• 63 General Services
• 64 Graduate Programs (Faculty and Students)
• 65 Research Accounting
• 66 Libraries
• 67 Mail Services
• 68 Communications and Marketing
• 69 Payroll and Tax Services
• 70 Human Resources
• 72 Purchasing, Contracting, and Payables
• 73 Data Management
• 74 Research
• 75 Research Security
• 76 Security
• 77 Student Services and Registrar
• 78 Traffic and Parking
• 79 Travel
• 80 Vehicles