Penn State Policies Updates

Policy TR02 Penn State Travel updated

The Air Travel subsection of Policy TR02 Penn State Travel has been revised. The Seat upgrades/early seat selection fees has been increased from $150 to $250. All other requirements remain the same.

Effective: November 1, 2023

Policy FN25 University Bank Accounts

Policy FN25 University Bank Accounts is a new financial policy. This policy documents internal controls for establishing University bank accounts.

Policy FN33 Sales and Use Taxes

Policy FN33 Sales and Use Taxes is a new financial policy. This policy documents the requirements pertaining to the collection and remittance of sales and use taxes.

Office of Gift Planning name changed to Office of Gift Acceptance

Effective July 1, 2023, the Office of Gift Planning will be divided. The administrative functions will be housed within the newly created Office of Gift Acceptance. The following policies and procedures have been updated to reflect this administrative change:

Policy BT06 Course-Related Fees Approval updated

Policy BT06 Course-Related Fees Approval has undergone a complete review and has been approved by executive administration for publication.

The updated version has a publication date of May 23, 2023.

Policy FN02 Billing and Accounts Receivable updated

Policy FN02 Billing and Accounts Receivable has undergone an extensive review and has been approved by executive administration for publication. The new revisions are dated April 13, 2023 and all changes are effective April 14, 2023.

Policy FN02 Billing and Accounts Receivable updated

Policy FN02 Billing and Accounts Receivable has undergone an extensive review and has been approved by executive administration for publication. The new revisions are dated April 13, 2023 and all changes are effective April 14, 2023.

Policy FN03 Substantiation, Disclosure, and Accountability for the Receipt of Contributions from Non-Governmental Sources

Policy FN03 Substantiation, Disclosure, and Accountability for the Receipt of Contributions from Non-Governmental Sources underwent an extensive review due to the transformation of the IBIS legacy system to the System for Integrated Management, Budgeting, and Accounting (SIMBA) financial system.

Policy PR01 University Payroll

The Overpayments section of Policy PR01 University Payroll has been updated to further clarify the repayment of overpayment requirements.

The policy revisions were published and are effective June 10, 2022.

Policy FN17 Required Use of Approved University Forms Appearing in the General University Reference Utility has been revised.

Policy FN14 Use of University Tangible Non-Capital Property, Capital Property, Supplies, and University Services revised

Policy FN14 Use of University Tangible Non-Capital Property, Capital Property, Supplies, and University Services lasted received a complete review in 2016.  Since that time the financial management system has changed from IBIS to SIMBA and as such the document underwent an extensive review to update terms and processes.  The policy title was changed to remove the word Assets and replace with Property (Non-Capital and Capital).