This article is the second edition of the tax series, which aims to provide you with practical guidance on tax topics that may arise in university operations. In this edition, we focus on Unrelated Business Income (UBI).
Departments are required to review all Sponsored, Internal, and Cost Share awards no less than once per month to avoid overspending and prevent delays in the award closeout once the funding period has ended. This applies to all awards managed through the Grants Accounting system using the Project-Task-Award (PTA) account number.
As announced in the February 26 edition of Ohio today, the Ohio University Executive Staff Policy Committee (ESPC) and the President final approved policy updates to
If your department provides goods or services to an external party, billing for those goods and services must be handled through the Office of the Bursar as an external billing. University departments are not permitted to send their own invoices.
As fiscal year-end close gradually approaches, Finance Year-End Calendar has been updated and is now available for campus reference.
Payments are made to Ohio University students for a variety of reasons.
Due to recent events in the Middle East, the U.S. Department of State has issued a Worldwide Caution advising people to exercise increased vigilance when traveling abroad.
The university has successfully completed the full implementation of PaymentWorks, our centralized platform for supplier onboarding and payment verification. This milestone strengthens payment security, improves transparency for suppliers, and streamlines processes for departments across campus.
Ohio Senate Bill 1 (SB1) requires public colleges and universities to be more transparent about payments made to outside speakers and honoraria. Specifically: