Undergraduate Research Endeavors Competitive Awards
URECA! Polices & Procedures for Processing Student Payments
Students’ URECA! faculty mentors are ultimately responsible for
charges expensed to the URECA! project chart string. Budget managers
must seek approval from students’ faculty mentors before allocating any
PurCard expenses, or requesting reimbursements or cash advances.
expenses must be incurred within the project’s start and end dates.
Students may be reimbursed from their URECA! project chart
approval from their faculty mentors, for expenses they may have
personally incurred. Reimbursements must be based on original receipts.
(See procedure A below.)
Reimbursements may only be made to the student assigned to the
URECA! project chart field, and not to any other individual or entity
that may have incurred URECA! expenses.
Departments may incur URECA! related expenses on behalf of
students via PurCard, with
approval from faculty mentors, and allocate
the expenses directly to the students’ URECA! project chart string.
(See procedure B below.)
Students may receive cash advances, with approval from their
faculty mentors, but will be required to repay any unused portion of
said advance. (See procedure C below.)
Students who travel must keep track of all of receipts, and
Travel Policies regarding allowable expenses.
Faculty mentors, or their designees, must finalize all URECA!
transactions by the project end date per URECA! guidelines. Failure to
so may result in the absorption of URECA! expenses by faculty mentors’
Any over-spent URECA! project chart strings will have overages
directly to the faculty mentors’ departments.
URECA! funding shall be considered a form of “scholarship” (in
comply with the University’s Policy
on Awarding Scholarships/Prizes)
which must be captured on students’ financial aid accounts before the
close of the final semester of their projects, or the date of their
graduation (whichever comes first). This will not affect students’
financial aid or billing records, but will be reflected on their IRS
form 1098-T (Tuition Statement Form) at the end of each tax year(See procedure D below.)
A. Reimbursements to Students for Out of Pocket
should contain an itemized list of anticipated expenses
in order to justify a cash advance.
The chart string indicated on the check request should
to the student’s URECA! chart string with project #.
Cash advances via check requests may only be made to the
assigned to the URECA! project and chart string, and not to any other
individual or entity that may require an advance.
If not enough cash is advanced to the student,
reimbursement of additional expenses may be sought (see
Checks must be requested at least seven (7) to ten (10) business
days in advance.
If more cash is advanced to the student than is necessary, the
faculty mentor, or his/her designee, should send a memo to Student
Financial Services (SFS) indicating the dollar amount of funds needed
to be recovered from the student’s personal account. SFS will bill the
student through his/her student account for the amount indicated in the
memo. The memo must include the students’ name, UVM ID (beginning with
95), and the amount of funds to be recovered.
D. Scholarship Accounting
At the end of each semester and after students’ project
completion date, Student Financial Services, in conjunction with the
Controller’s Office, will automatically update
URECA! recipients’ financial aid accounts to reflect the amount of
money they have utilized for their projects. As stated in the above
policies, this will not affect their financial aid or billings records,
but will be reflected on their IRS form 1098-T (Tuition Statement) at
the end of each tax year.