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Updates

Gift Documentation Policy Update

All Gifts to Employees and Non-Employees, regardless of expenditure amount, now require:

  • Detailed Receipt
  • Specific Business Purpose
  • Recipient Name(s)

This includes Gift cards or certificates, as well as, tangible personal property. All gifts of $50.00 or more are reportable to the IRS and will be reflected on the employee's annual IRS W-2 Form. For more information, please review page 20 of the Business Expense Policy at: http://www.dartmouth.edu/~control/policies/dartmouth-business-expense-policy.html

Revised Standard Mileage Rates for 2017

The Internal Revenue Service announced a decrease in the optional standard mileage rates for 2017 (effective for expenses paid or incurred on or after January 1, 2017). Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.

The College has adopted the optional standard mileage rates for the use of a car (also vans, pickups or panel trucks) as follows:

  • 53.5 cents per mile for business miles driven
  • 17 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil. The charitable rate is set by law.

Capital Equipment (Fixed Asset) Reallocations Process

This is guidance for departments when needing to reallocate or correct expenses related to Capital Equipment (equipment exceeding $5000).  To request a correction or reallocation of Capital Equipment expense (see Natural Class list below) use the Correction and Journal e-Form  and add Susan Mockus as the approver. There is no need to complete the WebADI or SPUD Journal. If the e-Form involves a sponsored account (PTAEO), the form should be routed through OSP for their review.

If an e-form reaches the Finance Center or OSP without Susan's approval, Susan will be added as the approver and e-form routed to her for her review, action, and approval.

Any transactions on these natural classes should follow this process.

Assets over 25k (Capitalized) Assets Under 25k (Expensed)
1700-Oracle Fixed Assets Clearing 7111-EQUIP 5000 to 24999 Athletic
7561-CAP EQUIP OVR 25K Athletic 7112-EQUIP 5000 to 24999 Audio Visual
7562-CAP EQUIP OVR 25K Audio Visual 7113-EQUIP 5000 to 24999 Communication
7563-CAP EQUIP OVR 25K Communication 7114-EQUIP 5000 to 24999 Comp Hardware
7564-CAP EQUIP OVR 25K Comp or Netwrk 7115-EQUIP 5000 to 24999 Fabricated
7565-CAP EQUIP OVR 25K Fabricated 7116-EQUIP 5000 to 24999 Laboratory
7567-CAP EQUIP OVR 25K Mechanical 7117-EQUIP 5000 to 24999 Mechanical
7568-CAP EQUIP OVR 25K Office 7118-EQUIP 5000 to 24999 Medical
7569-CAP EQUIP OVR 25K Spec or Technical 7119-EQUIP 5000 to 24999 Office
7571-CAP EQUIP OVR 25K Scientific 7121-EQUIP 5000 to 24999 Specialized
7581-CAP OTHR OVR 25K Furniture Fixtures 7122-EQUIP 5000 to 24999 Teaching
7582-CAP OTHR OVR 25K Vehicles 7123-EQUIP 5000 to 24999 Technical
7583-CAP OTHR OVR 25K Computer Software 7124-EQUIP 5000 to 24999 Machines and Tools
7584-CAP OTHR OVR 25K Bldng ImprovRenvtn 7131-FURN FIX 5000 to 24999 Furn Fixture
7585-CAP OTHR OVR 25K New Construction 7151-FURNISHINGS 5000 to 24999 Carpet
7586-CAP OTHR OVR 25K Misc Item 7152-FURNISHINGS 5000 to 24999 Drapes
7587-CAP OTHR OVR 25K To Endowment 7153-FURNISHINGS 5000 to 24999 Matresses
7599-CAP ITEMS OVR 25000 OFFSET NonGrant 7171-VEHICLES 5000 to 24999 Vehicles
7598-CAP ITEMS OVR 25000 OFFSET Grant  
         

New SPUD Template

Financial Reporting released a New SPUD Journal Template this month. This changes requires authorized individuals to update your SPUD Journal Template, as well as, some of the Internet Explorer Scripts and Excel Macro Settings. For complete information and to update your SPUD Journal Templates, go to: http://www.dartmouth.edu/~control/forms/spud.html

Print Services Policy Update

The Print Service Policy has been updated with increased thresholds for Preferred Printers.

Preferred Printers print projects:

  • less than $5,000 may be paid through a non-PO invoice or PCard under single limit amount
  • over $5,000 a Non-Catalog requisition (PO) required
  • one estimate from a Preferred Printer required for less than $10,000
  • two estimates from Preferred Printers required for greater than $10,000

The full policy is available at: http://www.dartmouth.edu/~control/policies/printservices.html

Last Updated: 5/24/17