Motivating and recognizing employees is vital to employee engagement and a healthy, fun work environment. To find the recognition program requirements, please reference theÌý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Do I need a recognition program and who approves them?Ìý
Section A. Recognition Grid of the outlines if a program is required and what approvals are needed.Ìý The following is guidance provided to ²ÊÃñ±¦µä departments based on PSC procedures:Ìý
I am awarding:Ìý
Recognition Limits
1. Employees
- Length of Service awards may not exceed $400.
- Any award, reward, or prize that is greater than $2,000 requires appropriate officer approval.
2. Associates/Other Individuals and Supporting Organizations
- The recognition must be directly related to the instructional, research, or public service mission of the university.
- Recognition can be in the form of honoraria.
- Any award, reward, or prize that is greater than $2,000 requires appropriate officer approval.Ìý
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Recording Recognition Awards, Rewards, and Prizes
1. Cash Awards, Rewards, and Prizes
Cash awards to employees are processed through Employee Services, in HCM, usingÌýÌýwith earnings type of Award (AWR).
Cash awards to non-employees are processed through the Procurement Service Center using the Payment Authorization (PA) form.
2. Accounting Entries and Account ChartFields
Awards, rewards and prizes may be acquired through purchase or donation. If purchased through an approved procurement method, the following accounts are used
- 550101 – Performance/Support Awards Cash/Non-Employees
- 550105 – Performance/Support Awards Non-Cash/Non-Employees
- 550106 – Non-Cash Recognition Employees
- 550108 – Non-Cash Participation/Recognition Non-Employees
If an award, reward, or prize is donated, then the value of the award is recorded in Fund 34 as a Gift-in-Kind. Debit the appropriate account from above (550105, 550106, or 550108) and credit account 240606 Gifts In Kind less than $5,000. Include a full description, including the business purpose, on the transaction used to record the acquisition of the award, reward, or prize.
TheÌýsets forth university rules and requirements for using university funds to pay for recognition and training for employees, associates, and other individuals (including students); and, (b) is designed to provide reasonable assurance that recognition awards, rewards, and prizes distributed by the University are properly captured and subject to appropriate tax reporting.If you are recognizing an employee on the Boulder campus, you should work with the PSC andÌýÌýfor program compliance.