Budget & Fiscal News - December 2022
Updates
Official functions: Increased per-person costs requiring officer approval
Does your department purchase food and/or beverage for official functions such as staff appreciation, recognition, recruitment, donor cultivation or similar events? Revisions have been made to the official functions procedural statement.
Details about staff appreciation meals
听Want to express gratitude to the staff in your department this holiday season? Be sure to follow these procedures to plan a successful event.
Coverage of quarantine costs while on university travel
Per University Risk Management, the insurance purchased for business travelers only covers COVID-19听quarantine costs if the person is medically mandated by a doctor to quarantine in a hospital under their supervision.
Business expense substantiation and tax implications
The University of Colorado has developed policies related to the processing of commercial credit cards, cash advances and employee reimbursements that meet the IRS definition of an accountable plan.
Budget accounts in the actuals ledger
Please keep an eye out for any journal entries that have budget account codes with the actuals ledger group. Read to find out more.
Update on FY23 fringe rates
We are still waiting for our fiscal year '23 fringe benefit rates to be approved. Until they are approved, we will continue to charge our fiscal year '22 rates for the fiscal year '23 payroll. A fringe benefit encumbrance will be booked by the cost accounting team.
Announcing Staff Changes
Find out about recent changes to the Budget and Finance team, including staff in the Office of Budget and Fiscal Planning and the Campus Controller's Office.