Gifts, Prizes, and Awards Policy Revised

The University at Buffalo supports the practice of recognizing community members, employees, and students for their merits and contributions in meaningful ways through the use of gifts, prizes, and awards. Such items may not be lavish or extravagant, and must comply with funding source restrictions outlined in the Gifts, Prizes and Awards Funding Chart (Chart).  Policy objectives strive to achieve the following:

• The university is in compliance with Internal Revenue Service (IRS) tax regulations
• Gifts, prizes, and awards are reasonable and support the university’s mission of teaching, research, and community outreach
• University funds are used with a clear business purpose

State, UB Foundation, and Research Foundation (RF) funds may not be used to purchase:

• Gifts, prizes, or awards where the distribution of that item benefits a charitable organization
• Alcohol intended to be used as a gift, prize, or award 
  

• Make the interim policy revision permanent to specify that State, UB Foundation, and Research Foundation funds may not be used to purchase alcohol intended to be used as a gift, prize, or award.
  
• Require completion of a Taxable Income Reporting Form for all awards of cash and cash equivalents; previously, completion of the Taxable Income Reporting Form was required for awards of cash and cash equivalents with a value of $100 or greater
• Add a definition for Reasonableness
• Remove the following responsibilities for deans, vice presidents and vice provosts:
  • Support a structure that allows for a meaningful review and approval on each request
  • Act as a consultant to university employees seeking guidance on the reasonableness of requests
• Add the following responsibilities for UBOs:
  • Communicate this policy to units and departments.
  • Support strong unit financial stewardship through ongoing dialog regarding reasonableness and business purpose.
  • Act as a consultant to university employees seeking guidance on policy clarification and interpretation.
  • Review and approve as appropriate, all expenditure exceptions.
• Add responsibilities for Card Programs Representatives to:
  • Investigate transactions that do not appear to be reasonable.
  • Process transactions for payment, as applicable. 

The Gifts, Prizes, and Awards Funding Chart was updated to:

• Revise the Employee as Recipient section to specify that retirement gifts in excess of $400 will be included in the employee’s W-2 in accordance with IRS requirements (Gift to recognize university faculty or staff at retirement of upon leaving a unit)
• Revise the Non-Employee as Recipient section add guidance for prizes awarded to the winners of academic or research competitions administered by university representatives

This policy applies to all faculty, staff, and student employees who use university funds to purchase gifts, prizes, or awards to distribute on behalf of the university.

This policy does not apply to, honoraria, employees compensated as extra service or also receives, moving expenses, allowances, tuition support, or items purchased using non-university funds. This policy also does not govern the acceptance of a gift from a third party.

Granting or awarding financial aid is not considered an award for purposes of this policy. Awards to students related to academic performance are considered financial aid and are not subject to this policy.