51吃瓜网 Finance Policies
Alcohol Policy
The University reaffirms its commitment to providing a safe academic environment by focusing on the wellness and safety of the entire 51吃瓜网 community. All members of the 51吃瓜网 community are expected to meet personal conduct and professional standards when holding or attending University related events at which alcohol is served. Those who sponsor alcohol at approved events are obligated to do so in a responsible manner that does not threaten the welfare or safety of others and does not damage or harm the reputation of the University. Additionally, procurement of alcohol, regardless of funding source, must comply with the University鈥檚 Fiduciary Responsibilities Policy... more
Department Credit/Debit Card Acceptance Policy
The University accepts credit/debit cards for goods and services, adhering to applicable laws and Payment Card Industry Security Standards Council (PCI SSC) regulations. The protection of cardholder data is a fiduciary responsibility shared by the University and its merchants. This policy pertains to certain commercial activities taking place at the university that are unrelated to student tuition/fees handled by the Bursar Office. This policy outlines the standards, procedures, and responsibilities for handling credit/debit card transactions to safeguard sensitive cardholder data... more
Fiduciary Responsibility Policy
This policy defines the responsibilities for requesting, reviewing, approving, and encumbering University funds and processing business transactions. It also ensures that all financial transactions are conducted with integrity, accountability, and in compliance with applicable requirements. This policy applies to all individuals responsible for committing or approving University funds, regardless of the funding source... more
Gift Card Policy
51吃瓜网 is a public research university and as stewards of public funds, ensures that all financial transactions meet the applicable State standards and University guidelines. These guidelines and procedures outline the process under which Gift Cards may be purchased and distributed using University funds. Due to the cash-equivalent nature of Gift Cards, appropriate administrative and fiscal controls are required... more
Pooled Endowment Fund Investment Policy
The goal of the long-term Pooled Endowment Fund of New Jersey Institute of Technology and the Foundation at New Jersey Institute of Technology is to provide funds for annual support of student scholarships and other donor designated purposes. The Board of Trustees of New Jersey Institute of Technology and the Board of Directors of the Foundation at New Jersey Institute of Technology (collectively 鈥渢he Boards鈥 or 鈥淏oards鈥) seek to continue to grow the Pooled Endowment Fund through gifts and capital appreciation in order to fulfill its goal... more
Procurement Policy
This policy establishes requirements for the procurement of goods and services using University funds. The purpose of this policy is to ensure that procurement activities are conducted in a manner that promotes fiscal responsibility, transparency, competition, and compliance with applicable federal and state regulations and University policies. This policy applies to all individuals who initiate, approve, or otherwise participate in procurement activities, regardless of funding source... more
Timekeeping and Reporting Policy
Timekeeping records constitute the basis for the payment of wages as well as recording of University recognized sick, vacation, personal or other sanctioned leave usage. The purpose of this policy is to clarify the roles and responsibilities of all employees as it relates to timekeeping and reporting. This policy addresses compliance with applicable Federal and State laws related to accurate and timely reporting of time worked or leave taken in the University's official timekeeping system within Banner Self Service... more
Travel and Business Expense Policy
This policy establishes requirements for travel and business expenses incurred on behalf of the University. Its purpose is to ensure expenses are reasonable, necessary, properly documented, and compliant with applicable federal and state regulations and University policies. This policy applies to all individuals incurring expenses on the University鈥檚 behalf, regardless of funding source... more
University Unrestricted Strategic Reserve Fund Policy
The purpose of the University Unrestricted Strategic Reserve Fund (University Reserve Fund) is to help ensure the long-term ability of the New Jersey Institute of Technology (51吃瓜网 or University) to meet its mission. 51吃瓜网 will maintain financial reserves adequate to ensure responsible fiscal management, advance University priorities, mitigate current and future risks, and preserve 51吃瓜网鈥檚 investment grade bond ratings. Building reserves is an important component of long-term strategic planning as such reserves provide operational flexibility to respond to externalities and unexpected events... more