Corporate card taxability reminder

The revised Using a University Corporate Card policy introduced a new provision that would make PCard and T&E Card (formerly TCard) transactions submitted 60+ days after the transaction date taxable to the cardholder (unless there are documented extenuating circumstances). Beginning October 15, 2024, transactions submitted after 60 days will be reviewed by the Tax Management Office to determine if they should be reported as taxable income.

In order to prevent a taxable scenario, the following best practices are recommended:

• Submit expenses as soon as possible after the transaction, including transactions that may be in error or fraudulent. Take the appropriate action with either the supplier or bank as early as possible to resolve the issue. Add as much information as possible to the original transaction outlining the circumstances at the time of submission.
• Always gather itemized receipts at the time of the transaction to avoid delays due to documentation requirements:
• PCard — all transactions require an itemized receipt/invoice
• T&E Card (non-travel/hospitality) — all transactions require an itemized receipt/invoice
• T&E Card (travel) — all lodging and any $25+ transactions (excluding meal per diems) require an itemized receipt/invoice
• Clearly explain the reason for the purchase and whether there were any unique circumstances that impacted the purchase.

Amplified sound on Northrup Mall

On Wednesday, September 18, presidential inauguration activities will take place around the Northrop Mall area from 4 p.m. to 6:30 p.m. These activities will include amplified sound that may be heard in the buildings. Normally, this would not be allowed as part of the Using and Leasing University Outdoor Space: Twin Cities policy, but an exception was granted. Please plan accordingly if you are planning to work in person on September 18.

Policy Change: Using a University Corporate Card

The University has made a significant policy change regarding the use of Procurement Cards (PCard) and Travel Cards (TCard). The new Using a University Corporate Card policy replaced two policies to help provide consistent handling requirements between card types. Other major changes to the policy include:

• PCard and TCard transactions must be reconciled and submitted for approval within 60 days of the original transaction date.
• Transactions submitted after 60 days may become taxable to the cardholder or be required to be repaid. Do not wait to submit your transactions.
• Cardholders leaving the University must reconcile all pending expenses prior to their last day of employment. Any incomplete transactions may be invoiced to the cardholder for repayment or be treated as taxable income.
• The per transaction limit is being increased from $2,500 to $5,000. Purchases above the new threshold should be discussed with ASRCentral@umn.edu.
• How to use a TCard to make hospitality purchases is more clear in the policy.

The corporate cards are available as a convenience, but not necessarily as a primary means of making purchases. If you are not sure how best to proceed with a particular purchase, please contact ASRCentral@umn.edu.

Accepting gift cards

Occasionally, University employees are asked to complete surveys for a chance to win a gift card. For example, WEX, the University’s flexible spending account (FSA) partner, recently sent out an email asking employees to provide feedback on their experience with WEX, and they could then win a gift card for completing the survey.

Winning items like this would violate our conflicts of interest policy. If an employee won the gift card, they would need to return or donate it because it is a conflict of interest, or could have the appearance of being a conflict of interest. Minnesota statute also prohibits employees involved in purchasing, or who directly or indirectly influence a University purchasing decision or contract, from accepting gifts as well.

Business Expense policy updated

The University updated the Business Expense policy effective October 11, 2021. This update is considered a major revision to the existing policy, with key changes including:

• Removed the ability for employees to request reimbursement for local mileage or transportation costs, except in the following situations:
• Individuals traveling to a system campus that is not their home campus (Twin Cities is defined as East Bank, West Bank, and St. Paul)
• Individuals traveling to an offsite location because their job duties require them to do so
• When an employee is in travel status (overnight)
• Added language stating parking at an employee’s primary campus location is not an allowable expense
• Created a new appendix for business expenses related to remote work

Branding policy

As we prepare for the start of the term, we wanted to share some updates regarding the University's Brand Policy: Trademarks, Logos, Colors and Seal from University Relations. The policy and related standards are reviewed regularly and updated to ensure the University has a strong brand, which benefits all campuses, colleges, and units.

Most notably, the System Identity Style Guide has been updated to reflect some recent organizational changes. If you have any questions regarding the brand policy or standards, contact asrux@umn.edu.