Do any of your employees (such as professors, deans, coaches, or staff members) travel to speak at conferences or events hosted by external organizations? If so, keep the following guidance in mind if your department receives payment related to those speaking engagements:
Scenario 1: Payment Agreed to in Advance
If the external organization agrees in advance to provide payment related to the speaking engagement (including payment to cover travel or other costs), this arrangement is considered to be an exchange transaction.
- The payment should be recorded as revenue in an appropriate self-supporting fund by crediting account code 307825 - Speaking and Presentation Services Revenue.
- The payment should not be recorded as an expense reimbursement, even if it equals the exact amount of expenses incurred.
- Any related expenses (such as travel or payroll) should also be charged to the appropriate expense account codes within the same self-supporting fund. This ensures that the related revenue and expenses are recorded within the same fund.
Scenario 2: No Payment Agreed to in Advance
If no payment was required or agreed upon in advance, and your department later receives an unexpected payment from the external organization as a thank-you for the employee's time and efforts, it should be treated as a donation and deposited through the University of Illinois Foundation using a gift transmittal form.
Contact
For additional guidance, contact the appropriate subject matter experts who can be found by searching for “Self-Supporting Funds” or “Gift Funds” in the Business & Finance Who to Ask list.
Note: Some payments from external organizations related to speaking engagements may be prohibited by the State Officials and Employees Ethics Act or may require advance approval from the Ethics Office. Please reach out to ethicsofficer@uillinois.edu for guidance.
