Bank of America Card Update
March 17, 2017
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History and Statistics
BOA Travel Card Program
• Rollout FY14 - July 2013
• University Wide Program to
automate and improve travel
reporting
• 56% of active cards were
issued in FY14
• Majority of Cards held by
staff
• Do those Staff members
travel or entertain?
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Why are we talking about this?
FY17 Comprehensive Audit includes Departmental BOA cards:
* Identify all Active Cardholders on File
* Review card activity- when opened and last used
* Review Card Limits
* Determine need for card and if it should be canceled
Clarify Card Use, Abuse and Compliance with Travel Policy #2367 Payment
Options
Strengthen Internal Controls & Mitigate Future Risk
Your Role in the Process
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Purpose and Use of Travel Card
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F&A Actions
Strengthen Internal Controls & Mitigate Risk:
•
Educate cardholders on appropriate use of card
•
Collaborate with Penn Card Administration on card reconciliation, reporting
and training program. The goal: proactively identify infrequent use, misuse
and delinquency analysis.
•
Review of 364 active cards has already begun with the FY17 Audit. Currently
29 cards have not been used within the past year. Unnecessary and unused
cards will deactivated.
•
New guidelines for new card application and issuance: demonstrated need for
faculty/staff with travel or entertainment needs only.
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BA Role
Your Important Role as Approvers:
•
Review and reinforce appropriate card usage within the Concur Travel system
•
Identify misuse of the card, educate cardholder, and alert F&A.
•
When a non-reimbursable expenses exceeds $300.00 within Concur, include
F&A (Maureen McGinness) as a user added approver.
•
Notify F&A when an employee has resigned that is a current cardholder
•
Recommend cards be deactivated if not needed
•
When in doubt, please contact us (me and Erika)!
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Thank You!
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BA Role
Hyperlink References:
Penn Travel Card
Purchasing Services Card Programs
Commodity Matrix
Travel Policy 2367 Payment Options
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