Financial Services Manual policy 9.11 Employee Recognition and Convocation and Award Events – Best Practices have been updated to reflect an increase in the benchmark amount for reasonable costs for food and refreshments from $25 to $40 per person, including tax and tip.
Additionally, the following updates have been made to 9.11 Employee Recognition:
- Added a new FAQ regarding reasonable cost for food and beverages.
- Clarified that incidental costs, such as audio-visual equipment, are not included in the per person amount for meals and refreshments.
- Removed the 10-year service minimum for retirees to permit retirement events for any individual leaving the University with official retirement status.
- Removed the 10-year service minimum for non-retirees. Events for non-retirees still require a memo of justification.
- Updated taxation table to clarify and align with IRS requirements for years of service awards.