Date Fiscal Policy/Rule Summary of Revision

03-150-102 Lease Reporting

Policy revised to increase the materiality thresholds for capitalizing OSU lessee and lessor leases for financial reporting purposes.
03/01/24 03-120-206 Graduate Student Employee Compensation

Policy revised to allow tuition remission and the pay to be on different funds (e.g. a graduate student can be paid on a grant and tuition remissions can be process on a colleges budget or another grant). Previously graduate student tuition remission had to be processed on the same funds as the pay for the student, and colleges needed flexibility to seek out additional funding to cover tuition remissions.

03/01/24 03-140-505 Meals, Refreshments and Events Policy revised to allow the purchase or rental of a cap or gown for students on Fund Type 70 – Recognized Student Organization funds. Current policy has caused confusion for student clubs as it’s been a long-standing practice for them to fund raise to provide regalia to their club members.
04/22/24 03-150-106 Interest Earnings Policy revised to provide clarification to the requirements for Gift and Donation Funds that are legally required to retain earned interest.
04/22/24 03-150-301 OSU Foundation Full review and update to replace FIS 507.  Provides clarification on when transactions should be processed as direct payments through OSUF or reimbursements from OSUF to OSU.