8.2.4 Provide Justification for Reimbursement Requests Older than 60 Days
The Business & Finance Policy Office announces open comments from March 12–18, 2025, for policy 8.2.4 Provide Justification for Reimbursement Requests Older than 60 Days.
This policy is updated to confirm that any expenses submitted one year or more after expense date will NOT be reimbursed to the employee
Draft Policy:
New policy 22.4 Inventory for Resale
The Business and Finance Policy Office announces an Open Comment period from 3/3/25-3/17/25 for a new policy, 22.4 Inventory for Resale.
This policy consolidates and updates two existing policies currently under the heading of Managing Inventory for Resale, including Assess Your Merchandise Inventory Management Practices—Business & Finance and Conduct a Physical Inventory to Adjust Your Merchandise Inventory Record—Business & Finance.
Draft Policy:
12 Property Accounting
The Office of the Vice President, Chief Financial Officer, and Comptroller announces updates to 12 Property Accounting.
Highlights include:
- Revising policies to new policy format
- Updating policy content for accuracy, consistency, and grammar
Draft Policy:
Motor Vehicle Policy Report
The Business & Finance Policy Office announces an Open Comment from January 24, 2025–February 7, 2025 for a new policy, to be placed in policy 15 Travel, regarding Motor Vehicle Policy Reports.
The new Motor Vehicle Policy Report Policy has been drafted due to requirements by the University of Illinois System’s insurance provider. The policy requires that all employees considered “regular drivers,” as defined in the policy, are required to undergo a Motor Vehicle Report (MVR) and must provide complete and accurate information for any information requested to complete an MVR or results that may arise from an MVR.
Draft Policy:
12.1.3 Equipment Trade-ins and Limitations
The Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for a new policy, 12.1.3 Equipment Trade-ins and Limitations, from January 23 to February 6, 2025.
Please review the proposed changes and provide feedback in the comments section below to be considered before the new policy is published.
Highlights include:
- All trade-ins of equipment must be handled in compliance with State of Illinois statutes, rules, and system policy.
- The trade-in allowance must be used to reduce the purchase price of the new “like-kind” equipment.
- Special rules apply and additional approvals are required for traded in equipment purchased on State funds and Grant funds.
The policy lists Prohibited Acts including:
- Trade-ins of equipment for an unknown product or service to be acquired in the future or store credit.
- Trade-ins of equipment for an item that will be titled to another institution.
- Trade-ins that result in the unit receiving funds or store credit is considered a sale,and is not allowable.
Draft Policy:
19 Contracts
The Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for updates to 19 Contracts - Business & Finance from November 11 to 25, 2024.
Please review the proposed changes and provide feedback in the comments section below to be considered before the new policy is published.
Draft Policy:
13.8 Enrollment and Key Deposits
The Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for a new policy, 13.8 Enrollment and Key Deposits, from November 11 to 25, 2024.
Please review the proposed changes and provide feedback in the comments section below to be considered before the new policy is published.
Draft Policy:
8.1.1 Business Meals, Refreshments, and Alcohol
The Office of the Vice President, Chief Financial Officer & Comptroller announces that policy 8.1.1 Business Meals, Refreshments, and Alcohol is available for open comment from November 7–21. The policy has been updated to provide more information on allowable expenses for business meals as well as list the funds that are allowed for alcohol purchases, rather than listing the ones that are not allowed.
Please review the proposed changes and provide feedback in the comments section below to be considered before the new policy is published.
Draft Policy:
8.11 Relocation Assistance and 8.11.1 One-Time Moving Payment to the Employee
The Office of the Vice President, Chief Financial Officer, and Comptroller announces that policies 8.11 Relocation Assistance and 8.11.1 One-Time Moving Payment to the Employee are available for open comment from October 15–29. The policies have been updated to clarify that 0% hourly employees are not eligible for moving relocation expense reimbursement or payment.
Please review the proposed changes and provide feedback in the comments section below to be considered before the new policy format is published.
Draft Policy:
17 Consultants and Independent Contractors
The Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for updates to 13 Accounting from October 8 to October 22, 2024.
Highlights include:
- Revised throughout for clarity and accuracy
- Update policies to current policy format
- 17.3 Capital Professional Services Consultant (PSC) Error and Omission Policy replaced with link to original policy
Please review the proposed changes and provide feedback in the comments section below to be considered before the new policy format is published.
Draft Policy:
13 Accounting
The Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for updates to Section 13 Accounting from September 17 to October 1, 2024.
Highlights include:
- Removal of policy 13.2 C-FOAPAL Segments, as the information in this policy was combined with section 13.1 Overview of Fund Accounting at the University of Illinois System
- Renumbering of Section 13 Policies
- Updates for clarification and consistency throughout Section 13
Please review the proposed changes and provide feedback in the comments section below to be considered before the new policy format is published.
Draft Policy:
5 Receivables
The Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for updates to 5 Receivables from August 28 to September 11, 2024.
Highlights include:
Please review the proposed changes and provide feedback in the comments section below to be considered before the new policy format is published.
Draft Policy:
12.5.2 Expensed Lease or Housing Stipend for a Non-University Owned Residence or Apartment
Policy 12.5.2 Expensed Lease or Housing Stipend for a Non-University Owned Residence or Apartment has been updated to remove the requirement for submitting a lease for a Long Term Residence Stipend (More than One Year). The university retains the right to ask for one, but it is no longer an advance requirement to create a stipend.
The lease requirement is still in place for Short Term Residence Expense Reimbursement (One Year or Less).
Draft Policy:
15.3 Motor Vehicle Accidents
The Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for 15.3 Motor Vehicle Accidents from August 14, 2024 to August 28, 2024. This policy update provides additional details in the Procedure section of the policy.
Highlights include:
- Notice that employee’s Social Security Number may be required in the event of an accident
- Updated links to the university specific accident response plans
- Clarification on the reporting timeframe for vehicle accidents to the university motor pool office
Draft Policy: