Finance has been getting questions from departments about vendor rebates so we thought it would help to review what a vendor rebate is and how you should handle the rebate if your department receives one because of a business purchase.
Business Matters
Background
We wanted to address some recent concerns expressed by several departments about services provided to university departments by our preferred supplier for confidential shredding, Shred-It.
Finance has been receiving some complaints from travelers about not being able to rebook basic economy fare airline tickets. When it comes to purchasing this type of ticket, it really is buyer beware!
Because we have a travel management provider the University is now able to leverage the institutional travel spend to secure better discounts for university business travelers.
Beginning on January 1, 2024, the standard mileage rates for the use of a personal vehicle is 67 cents per mile driven for business use. These rates apply to all vehicle types (including electric, hybrid-electric, gasoline and diesel-powered vehicles).
Segregation of duties is an important concept in financial management and internal controls, particularly in the context of sponsored awards and contracts, as well as grants.
It is with great pleasure and enthusiasm that we announce the appointment of Kim Trout as our new University Bursar! Kim has been with the Bursar since 1996 and brings a wealth of experience and expertise to this crucial role.
It is with mixed emotions that we announce the retirement of Sherry Rossiter, after an exceptional career spanning more than 25 years of dedicated service to the University.
As we wind down the calendar year, it is important to start planning for Winter Break Closure (WBC). Please keep in mind the following deadlines:
Identity theft has become one of the fastest-growing crimes today. Identity theft is the deliberate assumption of another individual's identity, usually to gain access to a person's finances or to frame that person for a crime.