Finance and Business Gift, Prize, and Reward Payment Policy
- Subject:
- The recipients of a gift, prize or reward payment may include faculty and staff members or AU affiliates. Approval must be obtained from a dean, director or department head prior to issuing the payment to the recipient. All monetary payments and non-monetary items above the de minimis threshold, with a few exceptions, qualify as taxable compensation to the recipient and are subject to federal, state, and employment tax withholding and reporting.
- Responsible Executive:
- Chief Financial Officer, Vice President & Treasurer
- Responsible Office(s):
- Office of Finance and Treasurer
- Related Policies:
- Effective:
- October 1, 2017
- Last Revised:
- October 1, 2017