Buying and Paying
0.00 Introduction

0.00 Introduction

1.00 Policy Statement

1.00 Policy Statement

1.01 VPF Procurement Operations, Strategic Sourcing, and Contracts Mission and Responsibilities
1.02 VPF Accounts Payable Mission and Responsibilities
1.03 Authority for Procurement
1.04 Department, Lab, and Center Procurement Authority and Responsibilities
1.05 Authority for Payment
2.00 Ethics in Purchasing

2.00 Ethics in Purchasing

2.01 Gifts and Gratuities
2.02 Kickbacks
2.03 Conflicts of Interest
3.00 Purchasing Standards

3.00 Purchasing Standards

3.01 Responsible Use of Funds
3.02 Allowable and Appropriate Costs
4.00 Purchasing Methods

4.00 Purchasing Methods

4.01 MIT Buy-to-Pay (B2P)
4.02 Purchase Requisitions to Internal Providers
4.03 Contracts
4.03a Standard Purchase Order
4.03b Blanket Purchase Order
4.03c Purchase Order Terms and Conditions
4.03d Emergency (Confirming) Orders
4.04 Purchase Order Changes
4.05 Purchase Order Closeout Responsibilities
4.06 Procurement Card
4.06a Non-Allowed Purchases
4.06b Department, Lab, and Center Responsibility
4.06c Cardholder Responsibility
4.07 Reimbursements
5.00 Payments

5.00 Payments

5.01 Purchase Order Invoicing
5.01a Presumed Receipt Invoices
5.01b Invoice Thresholds
5.01c Invoice Frequency
5.02 Requests for Payment
5.02a Payments for Honoraria or Guest Speakers
5.02b Non-Employee Prizes and Awards
5.02c Visa Fees
5.03 Human Subject Payments
5.04 Payment Terms
5.05 Payment Methods
5.06 Disputes
6.00 Supplier Selection and Sourcing

6.00 Supplier Selection and Sourcing

6.01 Full and Open Competition
6.02 Competitive Evaluation and Selection
6.03 Sole Source (Non-Competitive) Sourcing
6.04 Conflict of Interest
6.05 Supplier Diversity and Small Business Programs
6.06 Independent Contractors
6.07 Special Purchases
7.00 Supplier Policy

7.00 Supplier Policy

8.00 Financial Record Retention for DLCs

8.00 Financial Record Retention for DLCs

Travel Planning and Expensing
1.00 Introduction to MIT Travel Policies

1.00 Introduction to MIT Travel Policies

1.01 Scope
1.02 Why It Matters
1.03 Roles and Responsibilities
1.04 General Guidelines for Travelers
2.00 MIT Travel Card

2.00 MIT Travel Card

2.01 Acquiring the MIT Travel Card
2.02 Using the MIT Travel Card
2.03 Cardholder Reporting Responsibility
3.00 Planning and Booking Your Travel

3.00 Planning and Booking Your Travel

3.01 Approval
3.02 Travel Agencies, Online Booking
3.03 Air Travel
3.03a Considerations for Air Travel Under Sponsored Project
3.03b Private Aircraft
3.04 Lodging
3.05 Ground Transportation
3.05a Rail Travel
3.05b Private Automobile Travel
3.05c Car Rental
3.05d Passenger Vans for 12 or 15 Passengers
3.05e Miscellaneous Transportation Expenses
3.06 Conference Registration
3.07 Handling Expenses
3.08 Expenses Under Sponsored Research
3.09 Travel Card Cash Withdrawals
3.10 Cancellation and Refunds
3.11 Travel Risk
4.00 While You Are Traveling

4.00 While You Are Traveling

4.01 Expenses and Receipts
4.02 Food and Beverage Expenses
4.03 Business Meetings
4.04 Insurance
4.05 Accident Involving Rental Vehicle
4.06 Emergency Services: International SOS
4.07 Travel Agency as a Resource
5.00 Post Trip: Expense Reporting

5.00 Post Trip: Expense Reporting

5.01 General Requirements
5.02 Business Meetings
5.03 Payment of Charges on the MIT Travel Card/Submitting Travel Expense Reports
5.04 Airfares Under Sponsored Projects
5.05 Miscellaneous Expenses
5.06 Retention of Receipts
6.00 Special Travel

6.00 Special Travel

6.01 Relocation
6.02 Student Travel
6.03 Group Travel
6.04 Prospective Employee Interviews
6.05 Temporary Assignment
6.07 Required Extra Commuting
6.08 Compensation of Hourly Employees When Traveling on Business
6.09 Visitor and Guest Travel
6.10 Spousal Travel
6.11 Per Diem
7.00 Federal Regulations

7.00 Federal Regulations

7.1 Use of U.S.-Flag Air Carriers
7.2 Exceptions to the Fly America Act
7.3 Use of Foreign-Flag Air Carriers
8.00 Foreign Assets Control

8.00 Foreign Assets Control

U.S. Treasury Department’s Office of Foreign Assets Control
Payroll
1.00 Taxes

1.00 Taxes

1.00 Other State Taxes
2.00 Salary Certification Policy

2.00 Salary Certification Policy

2.01 Certification Requirements
2.02 Certifying DACCAs
2.03 Charging An Employee or Student Salary to a Cost Object
2.04 Pre-award WBS in Pending Status
2.05 Salary Distribution Roles and Authorizations
2.06 Quarterly Certification Process
2.07 DLCs Best Practices and Recommended Procedures
2.08 Salary Distribution Change Requests
2.09 Certification Compliance Monitoring
2.10 Examples Of Supporting Documentation By Proxy
3.00 Payroll Suspense

3.00 Payroll Suspense

4.00 Payroll G/L Accounts

4.00 Payroll G/L Accounts

4.00 Payroll G/L Accounts
5.00 Employee Benefits (EB) Rate for Part-time Employees, Visitors, and Unregistered Students

5.00 Employee Benefits (EB) Rate for Part-time Employees, Visitors, and Unregistered Students

5.00 Employee Benefits (EB) Rate for Part-time Employees, Visitors, and Unregistered Students
6.00 Institutional Base Salary — All Appointments

6.00 Institutional Base Salary — All Appointments

6.00 Institutional Base Salary — All Appointments
Budget Management
1.00 Research Assistant (RA) Tuition and Salaries

1.00 Research Assistant (RA) Tuition and Salaries

2.00 Student Extended Health Insurance Plan (SEIP)

2.00 Student Extended Health Insurance Plan (SEIP)

3.00 Sabbaticals

3.00 Sabbaticals

4.00 Carryforwards

4.00 Carryforwards

5.00 National Institutes of Health (NIH) Training Fellows

5.00 National Institutes of Health (NIH) Training Fellows

6.00 National Science Foundation (NSF) Shortfall

6.00 National Science Foundation (NSF) Shortfall

7.00 Department and Section Heads Salaries

7.00 Department and Section Heads Salaries

Property, Tax, and Accounting
Accounting Policy Overview

Accounting Policy Overview

Financial Accounting and Reporting

Financial Accounting and Reporting

1.00 Apply Cash Payments
2.00 Accruals and Deferrals
3.00 Software Capitalization Policy
4.00 Cost Object
5.00 General Ledger (G/L) Accounts and Cost Elements
6.00 Meetings Expense
7.00 Abandoned Property
Financial Review and Control

Financial Review and Control

1.00 Introduction and Background
2.00 Approach to Monthly Review
3.00 Specific Guidelines by Transaction Type
4.00 SAP Purchasing Transactions (including Partner Purchasing)
5.00 Procurement Card (ProCard)
6.00 Requests for Payment (RFPs)
7.00 Internal Providers
8.00 Payroll
9.00 Travel
10.00 Journal Vouchers
11.00 Calculated Charges
12.00 Sponsored Billings, Gifts, Fees, and Cash Receipts
13.00 Travel Credit Card
14.00 Electronic Tools
15.00 Other AO/FO Reviews
Property

Property

1.00 Administration of Property
1.01 Government Property
1.02 Accountability of Property
1.03 Sponsored Research
1.04 Institute Property
1.05 Title to Property
1.06 Discretionary Funds
1.07 Property Identification Number
1.08 Personal Items
1.09 Off-Campus Property
1.10 Insurance Coverage
2.00 Coding Equipment Purchases
2.01 G/L Account Assignments
2.02 Enhanced capital items
2.03 Enhanced capital items above $5,000
3.00 Capitalization Policy for Buildings, Space Changes, and Major Repairs
3.01 Buildings
3.01.1 Constructed Buildings
3.01.2 Building life span
3.02 Space Changes
3.02.1 Space changes below $100,000
3.02.2 Space Changes-mid range
3.02.3 Space changes above $725,000
3.02.4 Leasehold improvements
3.03 Maintenance, Repair, and Overhaul (MRO)
3.03.1 MRO projects less than $100,000
3.03.2 MRO upgrades greater than $100,000
3.03.3 MRO repairs greater than $100,000
4.00 Capitalization Policy for Equipment
4.01 Capital Expenditure
4.02 Equipment
4.02.1 Capital Equipment
4.02.2 Minor Equipment
4.03 Component Parts
4.03.1 Enhancement Parts above $2,000
4.03.2 Enhancement Parts that increase value above $5,000
4.03.3 Enhancement Parts
4.03.4 Replacement Parts
4.04 Fabricated Items
4.05 Deliverable End Item
4.06 Maintenance and Repair
4.07 Software
4.07.1 Expensed Software
4.07.2 Capitalized Software
Sponsored Accounting

Sponsored Accounting

1.00 Cost Sharing
2.00 Journal Vouchers
2.01 Transfers
2.02 Closeouts
2.03 Overruns
3.00 Sponsored Projects
3.01 WBS Closeout Process
3.02 Billing Process
3.03 Interim and Financial Reporting
4.00 WBS Closeout Highlights
Payments to MIT
Accounts Receivable

Accounts Receivable

1.00 Dunning Letters
2.00 Overdue Balances
2.01 Monthly Collection Phone Call
2.02 Outside Collection Services
2.03 Payroll Deduction
3.00 Customer Privacy
Merchant Services

Merchant Services

1.00 MIT Merchant Policies and Procedures
2.00 MIT PCI Security Policy
3.00 SAQ A-EP Policy
4.00 SAQ A Policy
5.00 SAQ B Policy
6.00 SAQ C-VT Policy
7.00 SAQ C Policy
8.00 Self Assessment
9.00 PCI Compliance
10.00 MIT Privacy Statement