The Office of the Vice President, Chief Financial Officer and Comptroller announces an update to 8.1.4 Determine the Allowability of Gifts, Prizes and Awards to Individuals.
The policy currently requires tangible gifts and prizes given to an employee during a calendar year of $200 or more in cumulative value to be reported to University Payables. That amount has been updated to $100 or more in cumulative value to align with 18.5 Fringe Benefits section on De Minimis Fringes.
For system purposes, de minimis is generally considered any property or service with a value of less than $100.
Contact
For questions contact the Policy Office at (312)585-9071 or obfspolicies@uillinois.edu.
