Credit Card Policy

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What is a policy?
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History
Adopted 2017-03
Last Modified 2017-08

ENGINEERING UNDERGRADUATE SOCIETY OF MCGILL UNIVERSITY CREDIT CARD Policy Adopted March 2017, Amended August 2017

Article 1: Definitions

1.1 The Engineering Undergraduate Society of McGill University (hereafter referred as “ EUS ”) is the registered name of the non-for-profit corporation representing the engineering and architecture undergraduate students at McGill University
1.2 The Board of Governors of the EUS is the administrative board of the Engineering Undergraduate Society of McGill University which is composed of Administrators as defined by the EUS Constitution
1.3 The EUS shall recognise all Departmental Societies, Clubs, and Design Teams set forth in the relevant articles of the EUS Constitution as EUS Groups

Article 2: Purpose/Mission

2.1 This policy shall describe the official procedures to make a purchase with EUS’ credit card.

Article 3: Technicalities

3.1 Two credit cards shall be issued, respectively under the name of the Vice President Finance of the EUS and the Bookkeeper of the EUS
3.1.1 The Bookkeeper shall be a long term employee
3.1.2 Shall the Bookkeeper leave their role, credit card expenses shall be halted until a new bookkeeper is hired
3.1.2.1 The credit card attached to the leaving Bookkeeper shall be voided immediately
3.1.2.2 The credit card shall be replaced, and reissued once a new bookkeeper is selected
3.2 At the end of their term, the Vice President Finance of the EUS shall cancel the credit card under their name
3.3 The credit card shall be backed by guaranteed investment certificates (GICs) at a ratio described in the Financial Bylaws of the EUS

Article 4: Usage

4.1 Expenses made by the executives shall be approved by a simple majority vote of the Executive Committee
4.2 Expenses made by other EUS groups shall be made at the discretion of the Vice President Finance of the EUS
4.3 Standard expenditure procedures shall be followed, according to the Financial Bylaws of the EUS
4.4 If expenses were made, the Vice President Finance of the EUS shall present a summary to the Bookkeeper on a biweekly basis

Article 5: Amendments

5.1 Amendments to this policy must be approved by a simple majority vote of the Board of Governors.

Article 6: Interpretation

6.1 In the case of a conflict between this policy and the following documents, the following documents prevail in the order they are listed in:
6.1.1 The Quebec Companies Act
6.1.2 The EUS Letters Patent
6.1.3 The EUS Constitution
6.1.4 The EUS Financial Bylaws
6.1.5 Other EUS Bylaws