E1
Credit Card and Electronic Transfer of Public Funds Policy
Approved: 04/22/2004

The Library Director is responsible for issuing, accounting for, monitoring, retrieving and generally overseeing the compliance with the Ypsilanti District Library’s credit card policy.

District credit cards may be used only by a Trustee or employee of the Ypsilanti District Library for the purchase of goods or services for the official business of the District.

Ypsilanti District Library Trustee and employees who use a District credit card shall submit documentation detailing the goods or services purchased, cost, date or the purchase, and the official business for which the card is used.

A Trustee or employee who is issued a credit card is responsible for its protection and custody. If a credit card is lost or stolen, the Library Director shall be immediately notified. The entity issuing the lost or stolen credit card shall be immediately notified to cancel the card.

A Trustee or employee who is issued a credit card shall return the credit card to the Library Director upon termination of his or her employment or service with the Ypsilanti District Library.

The Library Director or designee shall maintain a list of all credit cards owned by the Ypsilanti District Library, along with the name of the trustee or employee who has been issued the credit card, the credit limit established, the date issued, and the date returned. Each trustee or employee shall provide written acknowledgement to indicate agreement that the credit card has been issued, and that the trustee or employee has received and read a copy of this policy.

The Library Director shall review each credit card statement as soon as possible to ensure that transactions comply with this policy. Transactions not properly documented or appear not to comply with this policy shall be immediately investigated.

Payments to the entity issuing the credit card shall not be made until the Library Director has made the above review and approved the invoice for payment.

The balance including interest or fees due under the credit card arrangement shall be paid by the due date of the invoice.

Trustees and employees who use Ypsilanti District Library credit cards in a manner contrary to this policy shall be subject to disciplinary action of, but not limited to, reprimand, suspension or termination.

ELECTRONIC TRANSACTION OF PUBLIC FUNDS POLICY
AUTOMATED CLEARING HOUSE (ACH) PAYMENTS/RECEIPTS

The following policy shall govern the use of electronic transactions and Automated Clearing House (ACH) arrangements for the Ypsilanti District Library.

1. The Ypsilanti District Library Board Treasurer shall be designated as the Electronic Transaction Officer (ETO).
2. The Ypsilanti District Library shall not enroll in electronic disbursement of funds with any individual, organization or company without the approval of the ETO.
3. The ETO shall designate the Library Director, Accountant, and Administrative Assistant responsible for approval and disbursement of funds for goods and services purchased subsequent to the date of written approval by the ETO.
4. All disbursements must be supported by appropriate documentation which details goods and services provided, the date of the payment and approval by the Library Director.
5. The ETO shall be authorized to enter into agreement with the State of Michigan or U.S. Government for receipt of state or federal payments as Direct Deposit via Electronic Funds Transfer.
6. The Ypsilanti District Library may establish electronic fund transfer procedures for enrollment of its customer, taxpayer or employee allowing the District to withdraw funds directly for the customer, taxpayer or employee bank account with proper written consent.
7. The Ypsilanti District Library may enter into agreement with a third-party vendor for ACH origination and electronic payment systems for receipt of payments for customers, taxpayers or employees. The ETO shall authorize the Library Director to sign agreements for ACH services.
8. All records and invoices shall be retained for review by the independent auditors.