Monetary Awards are Processed by Recipient Type:

 

Monetary Awards are Processed by Recipient Type:

 

1.   USM Employee Recipient Award:  USM Foundation reimbursement is required for payment processing.

The monetary award payment request will be processed through Human Resources (HR) and or Student Employment (SE) on a Single Payment Form. Send the request to Tax Compliance Box No. 5143 for review and approval. Tax Compliance will forward the request to USM Foundation for funding approval. The USM Foundation will send the request to Human Resources for payment processing.  

 

 

2.   USM Student Recipient Award: Award payment may be processed using:

·         University Auxiliary or Designated Funds, and/or

·         Office of Research Administration (Grants) Funds, and/or

·         USM Foundation Funds

The monetary award payment request will be processed through Accounts Payable (AP) on a Remittance Voucher. Send the request to Tax Compliance Box No. 5143 for review and approval. Tax Compliance will forward the request to Accounts Payable (AP) for processing.

 

3.   Non-USM Student and Non-USM Employee Recipient:  Award payment may be processed using:

·         University Auxiliary or Designated Funds, and/or

·         Office of Research Administration (Grants) Funds, and/or

·         USM Foundation Funds

This monetary award payment request will be processed through Accounts Payable (AP) on a Remittance Voucher. Send the request to Tax Compliance Box No. 5143 for review and approval. Tax Compliance will forward the request to Accounts Payable (AP) for processing.

 

4.   USM Student and USM Employee Recipient Award: All monetary award payment request will be reviewed and approved for processing on a case-by-case basis.

·         Send the request to Tax Compliance (TC) Box No. 5143 for review and approval.

 

·         TC will send approved request forms back to the requesting department denoting the appropriate department for payment processing i.e. AP or HR/SE.

 

·         For payments processed through Human Resources/Student Employment USM Foundation reimbursement is required.

 

·         The requesting department should complete the associated departmental form and forward all award payment request forms to the    

                related department:

o   Remittance Voucher for AP processing to be forwarded directly to AP, or

o   Single Payment Form for Human Resources processing to be forwarded to USM Foundation and the Foundation will forward to Human Resources

 

·         The funding sources are determined with the review process and will be communicated upon approval.

 

Additional Information:

If you are unsure of the award recipient’s category type, you should:

•        First, ask the individual receiving the award.

•        Second, you may check with Human Resources (HR) and or Student Employment (SE) about an employment record.

•        Third, you may check with Tax Compliance.

 

In the event you are awarding any recipient a nonmonetary item, Award payment must be processed using:

·         USM Foundation and/or

·         Office of Research Administration (Grants)

 

Please Note: In the event that an Employee Award or a USM Student and USM Employee Award needs to be the stated dollar amount, the award may be “grossed-up” to include all applicable taxes by the department processing the payment.  (“Gross-up” Calculation (Award amount / (1-Tax Rate)). Example: $500/ (1-.30) = $714.29