Proper Usage of Internal Awards-Reminder
Internal Awards are a method to award funds to employees, or sometimes departments, for a specific purpose and time frame. The approved list of internal awards can be found in the Internal Awards How to Guide found on the Finance Training website under the Internal Awards header. The following internal awards are approved:
|
BAKER AWARD |
PURF |
SUGAR BUSH AWARD |
|
GSS TRAVEL RESEARCH OW AWARD |
RESEARCH CHALLENGE/OURC |
1804 AWARD |
|
HONORS TUTORIAL |
RESEARCH INCENTIVE |
OUF INTERNAL AWARD |
|
INNOVATION STRATEGY AWARD |
SEA-STUDENT ENHANCEMENT |
DEPARTMENTAL AWARD |
|
KONNEKER AWARD |
AWARD |
INTERNAL AWARD |
| KOPCHICK AWARD | START UP (PLANNING UNIT) | |
| PRESIDENTIAL RESEARCH | START UP (VP RESEARCH) |
OUF Internal Awards, Departmental Awards, or Internal Awards are not intended and should not be used as a reserve or a holding account to avoid having funds swept at fiscal year end. The Budget Office and General Accounting will be reviewing all internal awards to ensure that they each have a purpose in keeping with the spirit of internal award use. If awards are found, we will reach out with any questions and to discuss. Any internal awards that were set up for a less than legitimate purpose will be closed. As a reminder, there is a designated source set up for repair & replacement reserves, so internal awards should not be used for this purpose.
Each planning unit is required to have at least one person who is trained on setting up, maintaining, and closing out internal awards. Please remember to review internal awards regularly for:
- overspent and expired accounts,
- for any that need to have the project or award manager changed or
- for any accounts that need to be closed.
All internal award training is available on the Finance training website: https://www.ohio.edu/finance/trainings. If in- person retraining is needed, please email Finance@ohio.edu.
If anyone has any questions or wants to discuss appropriate and best uses for internal awards, please reach out to Kris Sano, sanok@ohio.edu, and in conjunction with the budget office, will get your questions answered.