Financial Policies and Guidelines

  • Conflict of Interest Policy for Employees

  • Purchasing Manual

  • Travel and Expense Policy

  • Corporate Credit Card Policy

  • Merchant Credit Card Acceptance Policy

  • Gifts to employees can be separated into three categories:

    • Small gifts
    • Large gifts
    • Cash or cash equivalent gifts (e.g. gift cards)

    Whenever possible, we recommend gifts not be made using cash or cash equivalents. When making a gift to an employee, it is important to know in which category the gift falls.  If the gift is anything other than a small gift, it is generally taxable to the employee.

    Small gifts
    Small gifts are generally not taxable to employees who receive them.  In order to qualify as a small gift, it should have a low cost (less than $75) and be provided infrequently to an employee.  Small gifts may include, but are not necessarily limited to, tickets for entertainment events; holiday gifts; and flowers, fruit, books, etc., provided under special circumstances.

    Whether an item qualifies as a small gift depends on all the facts and circumstances around the gift and the employee to whom it is presented.  If you are uncertain as to whether a particular type of gift would qualify, please consult with the Office of Finance at [email protected] or ext. 4950.

    If a gift provided to an employee is not a small gift, it is a large gift with special reporting requirements listed later, and is generally taxable to the employee.

    Cash or cash equivalent gifts
    As noted above, cash or cash equivalent gifts (which include gift cards, gift certificates, savings bonds, and other instruments that take a similar form as cash) provided by Fordham to an employee are almost always taxable to that employee.

    A certificate that allows an employee to receive a specific item of personal property that is minimal in value, provided infrequently, may qualify as a small gift, depending on facts and circumstances.  In these situations, please consult with the Office of Finance if you are unsure as to whether the certificate would qualify.

    Reporting these types of gifts
    If the benefits provided qualify as small gifts, no reporting is necessary.

    If the benefits provided qualify as large or cash equivalent gifts, a message must be sent to the Payroll Department ([email protected]) indicating the employee name, amount of the gift, and date it was provided (multiple gifts may be included in the same message).  The gift will be taxable to the employee and reported on their year-end Form W-2.  However, as a courtesy to the employee, the University will pay the taxes associated with the gift[1], so that even after taxes, an employee who received a $100 gift card will receive the full value of that gift.

    [1] If the gift amount is determined to be unreasonable or noncompliant with policies or regulations, the University may decline to pay some or any taxes associated with the gift.

    Gifts to non-employees
    Gift purchases, regardless of their size or nature, may be taxable to a non-employee.  For non-employees, if the cumulative value of gifts provided to a non-employee during any calendar year exceeds $600, the University may be required to report those gifts to the IRS and the non-employee as income on Form 1099-MISC.

    Conflicts of Interest
    We would also like to remind all Fordham employees of the University’s conflict of interest policy, which among other things, prohibits employees from accepting certain gifts from parties with which the employee or University may have a financial interest.  

  • Segregated Gift Annuity Fund Policy

  • Purpose

    This policy governs the use of, and payment for, mobile device technologies (such as smart phones hot-spots, and tablets) needed for business purposes by Fordham University. This policy applies when an employee receives approval to carry a University-sponsored mobile device for the convenience of the University and applies to all University employees. 

    Business use

    Business use requirement

    Expenditures for equipment/services must follow a strict approval process, tied to demonstrated business need, and therefore do not constitute a fringe benefit.  Mobile devices may not be issued in lieu of compensation. If any state or federal agency deems the service compensation, the employee will be responsible for any taxes and or penalties due.

    It is expected that mobile devices will be used until the point at which the device becomes obsolete, which is expected to be three years on average, and/or if the carrier/manufacturer stops updating the mobile device. Further, employees are eligible to receive one device replacement from the approved list (and not necessarily an equivalent) in case of breakage or loss. Financial responsibility for subsequent breakage or loss shall be the responsibility of the employee. 

    The employee's department head and their respective area VP (or designee) will determine and approve the business rationale based on the employee's job duties, budget availability, and department policy.  Convenience of the employee is not a criterion for providing mobile equipment or for reimbursing related services. The approval process will include the department head selecting a device from the approved list provided by the University contracted cell service provider, along with the business requirements of the employee.

    Department head approval

    The department head and their respective area VP (or designee) must approve the provision of the equipment/services, following their customary school, business unit or department (hereinafter each referred to as the “Department”) practice for documentation of pre-approval of a business expense. 

    Department Responsibility

    The department will be charged for all mobile devices that are assigned to it. It is the responsibility of the department head (or designee) to review monthly reports for accuracy in a timely manner.

    Business necessity defined

    Business necessity exists when one or more of these conditions are present:

    • It is vital for the employee to be in constant contact with their office or facility on an on-going basis, or if the employee is responsible for emergency preparedness and must be reachable as a result.
    • A job requires fieldwork, multi-campus travel, and the need to routinely communicate in real-time with their office to give or receive directions (e.g., mobile employees).
    • The employee does not have access to a communication device when performing a substantial portion of their job, and communication with the department head or other business parties is required.
    • Frequent travelers (defined as at least 48 travel days per year) or as defined by other rules/compliance needs like NCAA regulations and/or state or federal regulations.
    • Other business cases proposed and justified by direct department head and approved in writing by the area dean or vice president.

    Reimbursement of expenses

    The following expenses are not reimbursable business expenses:

    • Mobile devices purchased outside of the Fordham program
    • Monthly service charges and associated fees for a non-Fordham owned mobile device
    • Costs for data storage and backup
    • Costs for roaming and international calling that could have been reasonably prevented

    Any exceptions must be approved by the VP for Finance.

    Use and protection of University-provided equipment and services

    Laws and policies regulating use of equipment

    The employee will be solely responsible for understanding and complying with all applicable laws and University policies relating to the use of equipment/services, including highway safety laws relating to mobile device usage, copyright laws, ergonomic use guidelines, privacy and security protocols and University export control, third-party data transfer policies, and data security policies. Employees should also review the Acceptable Use Policy.

    Preference for Fordham IT-provided equipment/services

    Fordham IT-provided equipment/services should be used in every case. The device should be selected from the University approved list.  The accumulation of campus-wide purchases: (1) enhances the buying power of Fordham IT, (2) generally provides the lowest prices possible, and (3) allow Fordham IT to more easily account for and maintain the devices.  Should an exception be requested and granted for a device/service not on the pre-approved list, a valid business need approved by the department head in writing should be submitted to Fordham IT for final approval.

    Ownership of Fordham-provided equipment/services

    Fordham reserves the right to reclaim a University-owned device at any time.

    When an employee leaves Fordham, equipment furnished to the employee must be returned to Fordham IT unlocked and cleared of all personal information (if this is not done, the employee will be charged for the device).  Once Fordham IT has completely reset the device, it will be returned to the department for re-deployment at its discretion.

    Phone numbers and transfer/porting

    Personal phone numbers may be transferred/ported to Fordham‐owned cellphones at no cost to the employee (if the employee’s provider charges a fee for porting to the Fordham provider, that charge will be the employee’s responsibility). Employees with Fordham-issued mobile phones must make their phone number available, as appropriate, to ensure adequate business and communication continuity. Transferring/porting a personal number to a Fordham-owned mobile device does not mean the number will be automatically released when leaving Fordham. As this number is used for business purposes and if the department has advertised this number for business purposes, the number might not be released. In addition, if separating from employment at Fordham a former employee continues to receive personal calls or texts on the mobile device, the University has all rights to the data as defined in the Acceptable Use Policy.


    Employees must take all reasonable measures to protect the equipment and any University-owned data kept on the device from theft or damage.  Failure to do so may subject the employee to monetary damage for the lost or damaged device.