HAPPY NEW YEAR!
1. Accounts Payable Reminders
2. Limited Engagement Contracts
3. PCards
4. Purchasing News
A few reminders as we start 2022:
1.ACCOUNTS PAYABLE
Wesleyan employees/students are not allowed to pay for the services or rental fees for an individual or a company that is not incorporated and then seek reimbursement. Due to IRS reporting regulations, Wesleyan must pay these types of payments directly to the vendor. Some examples of these payments include, but are not limited to:
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- guest speakers and performers
- research assistants
- transportation rentals such as bus rentals
- printing services by vendors such as Minuteman Press
- rented equipment from vendors like Ace Music and Audio LLC
- bicycle tune ups from vendors like Pedal Power LLC
- boat repairs from vendors like Island Cove Marina LLC
- apartment rental payments to landlords
Please be especially cognizant, when engaging these and other services, that payment is made directly by Wesleyan to the supplier either by invoice or PCard.
2.LIMITED ENGAGEMENT CONTRACTS
A reminder that the University has a “Limited Engagement Contract” template that is strongly recommended for honorariums over $1,000. The form is simple to complete and allows the sponsor to stipulate exactly what Wesleyan is covering. Contracts are recommended for all outside speakers; however, they are required for amounts above $1,500.
For academic departments, Chairs can sign contracts up to $5000 as long as the terms are simple, but anything above $5000 should be sent to Mark Hovey for the Provost to sign. Signing authority for all other departments is stipulated here.
Not only is it a good business practice but, particularly during these times of uncertainty, the contract protects the university in the event of a cancellation, misunderstanding of terms, etc.
3.PCARDS
If you suspect any fraudulent charges on your Wesleyan Pcard, please contact JP Morgan immediately at (800) 316-6056 and then notify Accounts Payable at APHelp@wesleyan.edu.
Additional guidance related to payments to foreign suppliers with PCards has been added to the PCard policy in Section VII. In general, payments to foreign suppliers via PCard must follow the same processes as payments made by check, direct deposit, or wire. Cardholders must contact International Compensation and Taxation (ICT) at ict@wesleyan.edu or Christine Rodrigue at x3502 before processing a PCard payment to a Foreign Person/Supplier.
More detail can be found here.
4. PURCHASING NEWS
Please see the attached Purchasing News for information on CTW OneSource, B&H Photo, Dupli, Ricoh and Enterprise.