Financial Operations and Procurement

Policies in this Category

• Roanoke College Faculty and Staff Travel Policy
  Effective July 1, 2025, this policy outlines procedures for reimbursing travel expenses incurred by faculty, staff, guests, and contractors conducting official College business. It details allowable expenses, payment methods, documentation requirements, and roles and responsibilities, while emphasizing fiscal responsibility, compliance with IRS guidelines, and adherence to College values. Special provisions are included for international travel, group travel, and non-reimbursable items.
• Roanoke College Mobile Device Policy
  Effective July 1, 2025, this policy outlines the criteria and responsibilities for issuing and using College-provided mobile devices and service plans. It defines eligible roles, usage expectations, security protocols, and IRS compliance for non-compensatory business use. The policy also addresses personal use restrictions, upgrade procedures, and prohibits reimbursement for personal mobile devices.
• Credit Card Policy
  Effective July 1, 2025, this policy governs the issuance, use, and oversight of College credit cards for business-related expenses under $2,000, travel, and emergency purchases. It outlines eligibility criteria, reconciliation procedures, cardholder and approver responsibilities, and restrictions on use, including prohibited transactions and vendor exclusions. The policy emphasizes fiscal accountability, compliance with IRS regulations, and secure handling of card information.
• W-9 Forms and 1099 Tax Reporting Guidelines
  This document outlines Roanoke College’s responsibilities for collecting vendor tax information and issuing IRS Form 1099 for qualifying payments. It emphasizes the need for a completed Form W-9 before any payment is made, details reportable payment types, and warns of penalties for noncompliance, including backup withholding and risks to the College’s tax-exempt status. Payments must be processed via vendor check to ensure proper IRS reporting.
• Endowed Professorship Expense Guidelines
  This document outlines procedures for managing expenses funded by restricted endowment earnings, emphasizing dual signature requirements, proper payroll handling, and IRS compliance. It details payment processes for students, current employees, and external contractors, and highlights the need to account for employer payroll taxes when budgeting. The Business Office oversees all requests to ensure adherence to budget limits and documentation standards.