8.10.8 Tangible Items

Policy Statement

Purchasing tangible items (e.g. laptops, computers, I-Pads, research equipment) with a value of $200 or more for students is not allowed.

Reason for the Policy

The Internal Revenue Service (IRS) and the U.S. Department of Education (ED) impose strict guidelines by payment type on how payments to students must be reported. See 8.1.4 Determine the Allowability of Gifts, Prizes, and Awards to Individuals and Payments to Students for additional information.

Applicability of the Policy

Purchasing tangible items for students.

Procedure

Units that wish to use available resources to provide funding for tangible items must do so in the form of scholarships paid to the students’ university account. Students may then use the scholarship funds to purchase their own tangible item(s).

Units must follow applicable requirements for processing these transactions. Guidance and additional instructions are described in Payments to Students.

Last Updated: March 11, 2019 | Approved: Senior Associate Vice President for Business and Finance | Effective: March 11, 2019