Debit / Check Cards

[Joe Scharle]

Since some of you incur out-of-pocket expenses while performing the duties of your portfolio, I'm wondering if you would like to have a corporate card to allow for direct billing. That's the question that prefaces the next.

Should the board allow some/all members to carry a corporate card?
Keep in mind you'd be responsible for unauthorized charges, and the cards would be the property of the corporation.

Let's bounce this around a bit.
Joe

 

[Trent Mason]

It certainly makes sense. I guess the only drawbacks would be that it would be harder to track the spending and of course it puts us more at risk for theft. :elvis: If I had one, I'd likely just keep it locked away at my house and only take it out if I was specifically going somewhere to purchase something for the site.

 

[Joe Scharle]

Actually Trent, any transaction would be visible in our corp account within 10 minutes. And any transaction over $50 or something less (we set the thresh hold) results in an email and tel call.

As to theft, most (I will) keep the card locked up until needed. If stolen, notify the bank immediately.

 

[TracyP]

I think it is a good idea.

 

[ScottM]

I am the # 2 spender. Rob is #1 with raffle prizes. I have no issue paying out of pocket and getting repayed but if a Corp card makes your job easier I would take a credit card.

 

[CaptnA]

Joe if it makes your job easier then its a good thing.
I'd certainly defer to your judgement on what would work best.
Those with budgets should have a means of accessing their funds when needed.

 

[McRabbet]

In the past, I have had a vendor submit an invoice for the items we have procured for the raffle (it may be prizes or printing or postage) and then the Treasurer has paid by check. Last year, I have travel expenses for Klingspor and the Greensboro symposium and was reimbursed by check. I am fine with either a card in my possession or the old way -- it is up to Joe as to which is easier. I will have expenses again this fall for the raffle and Klingspor, I'm sure.