IX. Staff Development
C. Thank you fund
The college provides an instant thank you fund which is a small but immediately accessible pool of money for supervisors who wish to recognize and reward employees. The fund may be used for gifts, meals, or other similar awards.
The pool of money available each academic year is allocated based on size of staff as follows: President-$500; Vice President for Development and VP/Dean of Student Services-$750 each; Dean of the Faculty and VP/Treasurer-$1,000 each.
Because of tax implications, the award must not be cash or a gift card. Any cash received by an employee is considered by the IRS to be the same as wages and therefore taxable.
Process for requesting an allocation from the fund:
Supervisors request an allocation by sending a written request to the appropriate Vice President, Dean of the Faculty or to the President. The written request must include the following information: 1-the recipient's name; 2-the reason for the award; 3-the type of award being requested; and 4-the cost of the award.
If approved, supervisors may either:
- purchase the award on their own and receive reimbursement, or
- receive the cash from the Business Office and then purchase the award.
In either case, the Business Office will need the receipt for the purchase to attach to the disbursement request.
The payee name on the disbursement form is the supervisor requesting the award. If purchased in advance, attach the receipt to the disbursement form. If purchased after the fact, forward the receipt to the Business Office so that they can attach it to the disbursement request.
The disbursement form must be signed by the appropriate Vice President, Dean of the Faculty or the President who will assign the appropriate organization and account numbers. The request is then forwarded to the Business Office staff who will process the request within 48 hours.
Each Vice President, the Dean of the Faculty and the President is responsible for monitoring his/her instant thank you fund budget to ensure the disbursements do not exceed the funds available. Funds will become available as of July 1st of each year. Unexpended funds will not be carried over from year to year.
last revised: 2/13/2012
last reviewed: 2/13/2012