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Financial Management

Financial Internal Controls

Policy Number:

3.26
Cornell University requires all operating units to develop their own unit-specific financial internal control plans using guidelines provided by the Office of the University Controller. Further, the university expects all members of the university community who are accountable for financial…

University Fundraising

Policy Number:

3.1
Cornell University appreciates and depends upon the generosity of alumni and friends to support its mission, programs, and purposes. Gifts must be solicited, accepted, processed, recorded, and acknowledged in a manner that protects the interests of both the institution and its donors.

Travel Expenses

Policy Number:

3.2
Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. This policy replaces University Policy 3.3, Travel Expenses for Concur Users and travel portions of University Policy 3.2.1,…

Travel and Business Expense Reimbursement, WCM-NYC

Policy Number:

3.2.1
Cornell University Weill Cornell Medicine (the "College") will reimburse necessary and reasonable travel and other business expenses.  Authority and responsibility for approving travel and other business expenses rest with the person responsible for the account/activity to which the expense will be…

Use of Cornell Vehicles

Policy Number:

3.4
Cornell University vehicles are available under certain circumstances for use in support of the university's mission of education, research, and community service.

Financial Irregularities, Reporting and Investigation

Policy Number:

3.6
All members of the Cornell University community have a responsibility to report known or suspected financial irregularities. Reporting must be handled in a confidential manner by all parties. Decisions on disciplinary action should be made with due regard for appropriateness and consistency.

Program Income from Sponsored Projects

Policy Number:

3.8
Cornell University, through its operating units, generates income as a result of sponsored projects or federal appropriations. It is the responsibility of each operating unit to use, account for, and report such program income properly.

Capital Assets

Policy Number:

3.9
Cornell University acquires, records, inventories, maintains, and disposes of capital assets. Each operating unit is responsible for following university procedures to achieve accurate capital asset reporting and compliance with government requirements.

Recharge Entities, Ithaca Campus Units

Policy Number:

3.10
Cornell University recharge entities recover some or all of the cost of their products and services through user fees, subject to the requirements outlined in this document.

Salary Confirmation

Policy Number:

3.11
Cornell University requires salary confirmation for individuals paid with sponsored funds, federal appropriations, or committed cost sharing.

Graduate Tuition and Other Support

Policy Number:

3.13
Cornell University’s Board of Trustees, based on recommendations of the Provost in consultation with the college deans, assigns each graduate field and degree program a specific tuition rate to ensure equitable treatment of students and respond appropriately to market forces. Although special…

Business Expenses

Policy Number:

3.14
Cornell University funds may be used for ordinary, reasonable, and actual business-related expenses incurred in furtherance of the university's missions.

Employee Gifts and Awards, WCMC

Policy Number:

3.14.1
Cornell University Weill Cornell Medical College (the "College") allows the bestowal of gifts and awards to recognize employees for outstanding work-related achievements, significant contributions, or major milestones, such as promotion or retirement.

Unrelated Business Income Tax

Policy Number:

3.15
Units of the university that have activities that generate unrelated business income will be charged all applicable income taxes. 

External Organization Accounts

Policy Number:

3.16
This policy is being revised and is unavailable at this time.

Accepting Credit Cards to Conduct University Business

Policy Number:

3.17
For all units that accept credit cards as a method of payment for goods or services in relation to university business/operations, Cornell University requires compliance with Payment Card Industry – Data Security Standards (PCI-DSS) protocols, and with the procedures outlined in this document…

Charging Directly to Sponsored Projects Costs that are Normally Considered Indirect

Policy Number:

3.18
Cornell University expects its faculty, staff, and students, when dealing with federal and other sponsored funds, to follow Generally Accepted Accounting Principles (GAAP); comply with all government and sponsor rules and regulations; and follow established standards for determining when it is…

Telephone Usage

Policy Number:

3.19
Cornell University provides telephone service for individuals undertaking mission-related activities. The university recognizes the need for personal telephone use, but expects individuals to pay directly for personal long-distance telephone calls.

Cost Transfers on Sponsored Agreements

Policy Number:

3.20
Cornell University expects costs to be charged to the appropriate sponsored project account when first incurred. There are circumstances in which it may be necessary to transfer expenditures to or from a sponsored account subsequent to the initial recording of the charge in the general ledger…

Advances (Including Petty Cash and Accounts Receivable)

Policy Number:

3.21
Cornell University provides advances of cash or other resources in limited circumstances to meet the business needs of the institution. This policy establishes these circumstances and the procedures for making such advances. This policy does not apply to any advance payment required by a vendor…

Safekeeping of Financial Assets, Including Cash, Checks, and Securities

Policy Number:

3.22
Cornell University requires anyone handling cash, checks, or securities on its behalf to safeguard these assets by applying appropriate internal controls, and that securities be managed in compliance with the bylaws of the Board of Trustees.

Establishing and Maintaining Accounts at Banks and Financial Institutions

Policy Number:

3.23
Cornell University’s central administration establishes all university accounts with banks and other financial institutions using university funds. In the unlikely event that a unit must ask the university to establish and maintain a separate account, the university requires the unit to institute…

Mobile Communication Devices

Policy Number:

3.24
The university will accommodate those full- and part-time employees with valid business needs for mobile communication devices by issuing university-owned mobile communication devices. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the…

Procurement of Goods and Services

Policy Number:

3.25
Cornell University’s Board of Trustees delegates significant procurement authority for the acquisition of goods and services from external sources on the university’s behalf. This authority is ultimately delegated to designated purchasing agents and contracting officers. These stewards of…