New or revised policies recently implemented

Fiscal Policy 03-140-505 Meals, Refreshments and Events has been revised to provide clear guidelines for allowable meals, refreshments and related expenses associated with unit functions, hosting official guests and sponsored events.  This policy consolidates several old FIS policies (410-01 Alcoholic Beverages, 410-05Hosting Groups and Official Guests, 410-07 Non-Travel Meals and Refreshments, & 410-09 Graduation Events).

Following is a summary of key changes to this policy:

  • Clarification of IRS requirements (see section 2.1): 

University funds are authorized and not considered taxable income to the employee when there is a clear business purpose and . . . EITHER: The meal or refreshments are furnished for the convenience of the university and on university premises . . . OR: The value and frequency of the meal or refreshments provided is so small that it is considered a de minimis fringe benefit.

  • Changes to allowable expenses for commencement events (see section 2.3):

Departmental expenses for commencement events are now allowed when the primary purpose is to recognize student achievement.

When faculty or staff attend the commencement ceremony as part of his/her official duties, academic regalia may now be purchased (as well as rented).

The new policy and related FAQs are posted on the FPP website.  Please contact the Fiscal Policy Coordinator for your Business Center or the Policy Steward listed on this policy with any questions.

 

Need a new or revised fiscal policy?

1) Contact the Fiscal Policy COORDINATOR for your Business Center or Unit

2) Work with your Coordinator to complete & submit the Fiscal Policy REQUEST Form

3) Monitor the STATUS of your request or any activity of a fiscal policy or rule