Policy Updates/Changes
Fiscal Policy FIO450 - Moving Allowance (09/01/2011)
Treasurer Chargles (Butch) Peccolo has announced that the following fiscal policies has been posted. The policy is effective September 1, 2011, and is now on the policy web site.
- FIO450 - Moving Allowance: This policy was revised in an effort to streamline the method of processing moving allowances and to ensure compliance with Internal Revenue Service guidelines. A T-27 is no longer required. A Moving Allowance Request T-5 is now required and has all of the necessary approvals and information required on this form. Please note the applicable federal taxes will be withheld from these moving allowances. The allowance will be reported as taxable income to the employee and applicable withholding taxes will be withheld from the payment. Departments will be charged the matching amount for social security and Medicare taxes. This is required by the Internal Revenue Service. Employees may be eligible to recover the income tax withheld from their allowance by filing the appropriate IRS forms with their individual tax return. IRS publication 521 should be consulted for further information and this is also referenced in the new policy.
Fiscal Policy FIO720 - Retirement Receptions and Awards to Employees (09/01/2011)
Treasurer Chargles (Butch) Peccolo has announced that the following fiscal policies has been posted. The policy is effective September 1, 2011, and is now on the policy web site.
- FIO720 - Retirement Receptions and Awards to Employees: This policy was revised to clarify retirement reception policy and employee award recognition.
Fiscal Policy FIO730 - Cellular Telephones and Other Wireless Communication Devices (07/01/2011)
Treasurer Chargles (Butch) Peccolo has announced that the following fiscal policies has been posted. The policy is effective July 1, 2011, and is now on the policy web site.
- FIO730 - Cellular Telephones and Other Wireless Communication Devices: This policy was revised to clarify the cell phone policy.
Knoxville Campus Policy No. 705: Knoxville Campus Supplemental Policy Suites or Luxury Accomodations (06/01/2011)
Please view the new campus policy relating to suites/luxury accommodations. This policy is effective June 1, 2011 and must have PRIOR approval as stated in the policy. The new policy can be found on the Budget and Finance website.
Fiscal Policy FIO530 - Procurement Cards (03/01/2011)
Treasurer Chargles (Butch) Peccolo has announced that the following fiscal policies has been posted. The policy is effective March 1, 2011, and is now on the policy web site.
- FIO530 - Procurement Cards - Limitations on Using Procurement Cards: Personal service contracts and contracts processed through the Contract system have been added to the list of unauthorized purchases.
- FIO505 - Processing and Paying Invoices - Invoices Processed Centrally: Item 5.b. was revised to say personal services contracts.
Fiscal Policy FIO410 - Purchasing - Bidding Requirements (02/01/2011)
Treasurer Chargles (Butch) Peccolo has announced that the following fiscal policy has been posted. The policy is effective February 1, 2011, and is now on the policy web site.
- FIO410 - Purchasing - Bidding Requirements: The General Bidding Policies, item #10 has been revised significantly to clearly state how tie bids for goods and services will be broken.
Other Links:
Archived Fiscal Policy Updates
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