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The purpose of this document is to create a policy to 1) mandate training for all Purchasing Card Accountholders, Group Proxy Reconcilers, and Group Approvers and 2) enforce penalties on Purchasing Card Accountholders who violate their Accountholder Agreement by not complying with the terms and conditions regarding use of their P-Card account.

A school or department wishing to request an internal loan should follow the standard procedure.

Internal loans are utilized to fund the purchase of equipment and other short-lived assets and to cover short-term financing needs created by cash flow-timing issues for capital projects. Internal loan requests should be for financing needs in excess of $250,000.

The University's strategic and capital planning is a long-term process that is continuously reevaluated.

The University deals constantly with the public's perception of how we conduct the business of the University. All University employees must be constantly mindful of the public trust that we discharge, of the necessity for conducting ourselves with the highest ethical principles, and avoiding any action that may be viewed as a violation of the public trust.

Procedure on Reporting Misuse of University Property or Funds

It is important for employees to exercise care and sound judgment in the use of University property and funds in order to maintain the public trust.

An Accountable Plan allows an employer to reimburse employees on a non-taxable basis when certain requirements are met. These regulations relate to reimbursing employees for business expenses, where reimbursement is not counted as income. This reimbursement process is referred to as an “Accountable Plan”. This Procedure explains the process for seeking Accountable Plan Reimbursements.

The University maintains an Accountable Plan which allows an employer (the University) to reimburse employees on a non-taxable basis when certain requirements are met. These regulations relate to reimbursing employees for business expenses, where reimbursement is not counted as income. This reimbursement process is referred to as an “Accountable Plan”.

The University of North Carolina at Chapel Hill Policy on Employee Relocation Compensation governs the payment made to a new employee to offset the personal costs of relocating to work at the University. This policy has been revised and simplified based on legislation changes in the 2017 Tax Cuts and Jobs Act which reinstated personal moving expense reimbursements as taxable wages.

To maintain appropriate fiscal reporting and ensure internal controls are met to prevent fraud, all imprest checking account, payroll account, accounts payable account, and petty cash account custodians must reconcile their accounts and report outstanding liabilities during the previous fiscal year at the conclusion of the current fiscal year to Cash Management.

The purpose of this procedure is to set criteria that determine if a lease may meet the requirements of a University of North Carolina at Chapel Hill Capital Lease and if the equipment should be recorded as a capital asset.

This procedure provides basic guidance related to the purchasing and trading-in of capital equipment.

Returns of materials or equipment acquired with a purchase order require authorization from the vendor and documentation in the purchase order system to receive credit for the return. Returns of items acquired through Campus Voucher, P-Card or eProcurement are handled by the department placing the order.

Complete purchase order records need to be retained, including changes resulting in returns to vendors or credits.