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Announcements

MOVING EXPENSES POLICY CHANGE---The following communication explains changes to the University moving policy:

Fiscal Policy No: FI0450 Moving Expenses is being revised to provide a moving allowance for newly hired faculty or staff members.  Effective immediately the allowance replaces the old policy of the purchasing department securing bids for a move and then payment by the University for moving related expenses.   The change to an allowance has been approved by both the President’s staff and the University’s Chief Business Officers.   The fiscal policy is currently being revised and will be posted to the policy web site shortly.  Under the new policy, prior to extending a moving allowance to a new employee a written request must be submitted to and approved by a chancellor or vice president, or their designee.  The request must include the recommended amount of the moving allowance and an explanation why a moving allowance to a newly hired faculty or staff member is in the best interest of the university.  A copy of the approved request for the allowance and a copy of the offer letter must be attached as supporting documentation when processing the request for payment. University of Tennessee Form T-27, “Request for Special Payment” must be processed to initiate payment for the moving allowance.  General ledger code 446788 must be used to identify this expense.  The Request for Special Payment can be processed once all documentation, as identified above, has been completed and copies available to be processed with Form T-27.  

Questions regarding the policy change or processing of the allowance payment should be directed to Accounts Payable at 865-974-3086

Important Announcement --- Increase in the no-bid limits from $2,000 to $5,000

Effective October 1, 2005, the no-bid limit for purchases of goods and services and for contractual arrangements was increased from $2,000 to $5,000. As a result of this change, the following is applicable:

1. Departments can purchase goods without processing a requisition through purchasing for expenditures up to and including $5,000. However, your Purchasing Department will be available to assist with any of your purchases.
2. Departmental procurement cards can be used for individual purchases up to and including $5,000. The Treasurer's Office has increased the maximum amount that can be spent each month on the procurement card from $10,000 to $20,000.
3. The amount related to contractual arrangements covered under Fiscal Policy FI0420 (Contracts) will increase from $2,000 to $5,000. With this increase, a contract will be required when the cumulative cost of services by an independent contractor to a department is greater than $5,000.
4. Petty Cash purchases may be made up to and including $5,000 for a single-item purchase. Departmental petty cash funds will not be increased as a result of this change.
5. Sensitive minor equipment can not be purchased with the departmental procurement card and will remain between $1,000 to $5,000 range.
6. The increase in the no-bid limit from $2,000 to $5,000 does not affect the informal and formal bid limits. Those amounts remain the same