MICHIGAN TECH FUND
POLICIES AND PROCEDURES
MANUAL
MICHIGAN TECHNOLOGICAL UNIVERSITY
HOUGHTON, MICHIGAN
ORGANIZATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1
Staff Chain of Command . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2
Open Door . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3
Conflict of Interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4
Speaking to the Media . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.5
Donor Confidentiality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.6
Code of Ethics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.7
Inclement Weather and Emergency Closings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9
Safety Standards and Emergency Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.10
Fire Prevention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.10
Fire Emergency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.10
Power Failures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.11
First Aid/Worker’s Comp . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.11
Safety – Serious or Fatal Accident . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.12
Personal Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.14
OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1
Records Retention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.2
Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.4
Approvals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.4
Registration Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.4
Lodging . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.4
Travel by Personal Vehicle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5
Travel by Pool Vehicle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5
Accident Reporting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5
Rental Car . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.6
Travel to/from Houghton County Airport . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.7
Travel by Commercial Airlines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.7
International Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.7
Meal Per Diem Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.7
Expense Reporting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.8
Miscellaneous Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.8
Telephone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9
Tips . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9
Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9
Dependent Care . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9
Completing the Travel Expense Voucher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9
Completing the Day Travel Expense Voucher . . . . . . . . . . . . . . . . . . . . . . . . 2.10
Development of Policies and Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.11
Scanned Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.12
Advancement Spousal Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.13
Disposal of Michigan Tech Fund Equipment, Materials, and Furnishings . . . . . . . . . 2.14
FINANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1
February 17, 2012
Cash Receipts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2
Cash Disbursements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.3
Review Balances in Demand and Endowed Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.6
Establishment of New Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.7
Check Signing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.8
Travel Expense Reimbursement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.9
Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.10
Real Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.36
Accounting Principles and Practices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.42
Budget Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.45
Capitalization, Valuation, and Depreciation of Assets . . . . . . . . . . . . . . . . . . . . . . . . 3.46
Gift Pledges Establishment, Collection, Enforcement, and Write Off . . . . . . . . . . . . 3.47
Principle Financial Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.48
Petty Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50
Michigan Tech Fund Purchasing Card . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.52
Gift Annuities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.53
University Payment Requests to the Michigan Tech Fund . . . . . . . . . . . . . . . . . . . . . 3.56
Credit Card . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.57
Complaint Procedures for Financial, Accounting, and Audit Matters . . . . . . . . . . . . 3.58
PERSONNEL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1
New Employee Orientation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2
Personnel Files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3
Sick Leave Allowances – Exempt and Nonexempt employees . . . . . . . . . . . . . . . . . . . 4.4
Vacation Leave . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.5
Vacation Accrual – Nonexempt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.6
Vacation Accrual – Exempt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.7
Longevity pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.8
New Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.9
Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.10
Discipline . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.12
Final Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.14
Exit Interview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.15
Grievance Procedure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.16
Fraternization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.17
Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.18
Promotions/Transfers/Demotions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.19
Excessive Absenteeism . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.21
Bereavement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.22
Voluntary Sick Leave Pool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.23
Dress Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.25
Telephone Calls . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.26
Request for Information About Staff Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.27
Use of Michigan Tech Fund Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.28
Workplace Violence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.29
February 17, 2012
Anti-discrimination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Family and Medical Leave Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Student Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sexual Harassment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Public Service Absence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Hiring . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Approved Leaves of Absence without Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.30
4.31
4.34
4.35
4.37
4.38
4.39
INFORMATION TECHNOLOGY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.1
Security – Computing Access – Local and Remote . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.2
Information Access . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.4
Computing Resources Usage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.5
Email . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.7
FORM F2.0 – Confidentiality Acknowledgment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.1
FORM F3.0 – Chronological Report of Serious or Fatal Accident . . . . . . . . . . . . . . . . . . . . . . 6.2
FORM F4.0 – Airline Ticket Request . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.3
FORM F5.0 – Travel Expense Voucher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.4
FORM F6.0 – Entertainment Form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.5
FORM F7.0 – Day Travel Expense Voucher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.6
FORM F8.0 – Michigan Tech Fund Check Request . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.7
FORM F9.0 – Department Check Request . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.8
FORM F10.0 – Michigan Tech Fund Fund Authorization Form . . . . . . . . . . . . . . . . . . . . . . . 6.9
FORM F11.0 – New Employee Orientation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.10
FORM F12.0 – New Hire Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.12
FORM F12.5 – Emergency Contact Form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.13
FORM F13.0 – Direct Deposit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.14
FORM F13.5 – Progress Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.15
FORM F14.0 – Receipt of Policy Manual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.16
FORM F15.0 – Record Request . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.17
February 17, 2012
FORM F17.0 – Corrective Action Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.19
FORM F19.0 – Final Pay Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.20
FORM F20.0 – Exit Interview Checklist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.21
FORM F21.0 – Grievance Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.22
FORM F22.0 – Staff Performance Appraisal Form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.23
FORM F24.0 – Authorization to Transfer Sick Leave to the Voluntary Sick Leave Pool . . . 6.24
FORM F25.0 – Request for Sick Leave from the Voluntary Sick Leave Pool . . . . . . . . . . . . 6.25
FORM F26.0 – Physician’s Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.26
FORM F27.0 – Petty Cash Voucher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.27
FORM F28.0 – Petty Cash Reconciliation Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.28
FORM F29.0 – Scanned Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.29
FORM F30.0 – Request for Leave under the Family and Medical Leave Act . . . . . . . . . . . . 6.30
FORM F31.0 – Credit Card Purchase/Service Request . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.31
FORM F32.0 – Complaint of Discrimination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.32
February 17, 2012
ORGANIZATION
Date:
April 16, 2005
Category: Organization
Subject: Staff Chain of Command
Policy: It is the policy of the Michigan Tech Fund to establish and follow a chain of command.
An organizational chart has been developed showing the reporting structure of the staff.
Purpose: The purpose of this policy is to establish a basic guideline regarding the chain of
command.
The Board of Directors of the Michigan Tech Fund is responsible for setting policy for the
Michigan Tech Fund. The Board delegates responsibility for the day-to-day administration of
the Michigan Tech Fund to the President of the Michigan Tech Fund.
The Tech Fund’s organizational chart indicates the chain of command to be followed for
communication to the Board and the University.
1.2
Date:
May 20, 1999
Category: Organization
Subject: Open Door
Policy: It is the policy of the Michigan Tech Fund to maintain an open door policy for all staff.
Purpose: The purpose of this policy to ensure staff are aware of this open door policy and
understand its intent.
All staff members are encouraged to provide input and suggestions concerning the overall
operation and programs of the Michigan Tech Fund, following the proper channels of
communication.
Staff members should initially bring their comments to their immediate supervisor. In those
cases where that may be inappropriate (for example, if it concerns the immediate supervisor or if
it has already been discussed with the immediate supervisor, but the situation has not been
rectified), staff may approach their department managers or the President of the Michigan Tech
Fund.
The Michigan Tech Fund operates in an “open door” manner. All staff input is considered and
can be presented without fear of personal recrimination of his or her position.
1.3
Date:
May 20, 1999
Category: Organization
Subject: Conflict of Interests
Policy: It is the policy of the Michigan Tech Fund that its staff members’ primary interests are
the donors it serves. A conflict of interest occurs when the interests of a staff member or other
outside party actually or potentially affects the Michigan Tech Fund in a negative way.
Purpose: The purpose of this policy is to establish guidelines to ensure that staff do not engage
in any conflict of interests through outside business interests, do not accept gifts or gratuities, or
have personal beliefs that hinder their work performance.
C
Outside Business Interests: Staff may have outside business interests and outside
employment so long as these do not interfere with job performance. Staff may not earn profit
from outside employment or business interest that directly results from affiliation with the
Michigan Tech Fund. Staff will submit an annual report to the President of the Michigan
Tech Fund, in writing, of their outside business interests.
The Director of Operations with the President of the Michigan Tech Fund will arbitrate any
conflict and decide on the final outcome. Staff members will be expected to comply with
the final outcome.
C
Gifts, Gratuities: Staff members are not to accept gifts, gratuities, free trips, personal
property, or other items from an outside person or organization as an inducement to provide
services.
C
Personal Beliefs: The Michigan Tech Fund recognizes that staff members may hold a wide
range of personal beliefs, values, and commitments. These beliefs, values, and commitments
are a conflict of interest only when they prevent staff from fulfilling job responsibilities, if
staff attempts to use the Michigan Tech Fund’s time and facilities for furthering them, or if
staff continues attempting to convince others of personal beliefs after they have been asked
to stop.
Cross reference: Personnel/Fraternization
1.4
Date:
May 20, 1999
Category: Organization
Subject: Speaking to the Media
Policy: It is the policy of the Michigan Tech Fund that all media presentations are conducted by
the President of the Michigan Tech Fund.
Purpose: This purpose of this policy is to establish proper protocol for speaking with the media.
A staff member may not speak to the news media as an official or unofficial spokesperson of the
Michigan Tech Fund without prior clearance from the President of the Michigan Tech Fund. All
inquiries from the media should be referred to the President who will coordinate responses
through the Executive Director of University Marketing and Communications, the official
spokesperson for the University.
Should staff receive a media inquiry, he or she should respond: “I have no authority to respond
to your request. You should refer your question to the President of the Michigan Tech Fund.”
1.5
Date:
May 20, 1999
Category: Organization
Subject: Donor Confidentiality
Policy: It is the policy of the Michigan Tech Fund that all donor information is confidential.
Purpose: The purpose of this policy is to establish and reinforce the fact that staff are working
with very important confidential information on its donors and to establish guidelines for
discussing this information.
Staff will, to the best of their ability, ensure confidentiality and privacy in regard to history,
records, and discussions about the donors we serve. The very fact that an individual is served by
the Michigan Tech Fund must be kept private or confidential. This means that staff shall not
disclose any information about a person, including the fact that he or she is or is not served by
our organization, to anyone outside of this organization unless authorized by the President of the
Michigan Tech Fund or other authorized personnel. The principle of confidentiality must be
maintained in all programs, departments, functions, and activities.
Staff will not discuss any individual’s record with unauthorized individuals, whether on or off
duty. All staff members are required to sign a confidentiality acknowledgment stating their
responsibility and commitment in regard to donor information (Form F2.0).
Cross reference: Information Technology/Records/Information Release
1.6
Revised:
Date:
Category:
Subject:
February 17, 2012, October 12, 2006
May 20, 1999
Organization
Code of Ethics
Policy: It is the policy of the Michigan Tech Fund to establish and maintain a code of ethics.
Purpose: The purpose of this policy is to have staff be aware of the Michigan Tech Fund code of ethics.
By signing a copy of this code of ethics, I as a staff member of the Michigan Tech Fund, affirm that:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
I will not discriminate against or refuse professional services to anyone on the basis of race, color,
religion, creed, national origin, gender, marital status, age, disability, height, weight, genetic
information, gender identity, or veteran status.
I will not use my professional relationship to further my own interests.
I will evidence a genuine interest in all persons served and will work in their best interests.
I will respect the privacy of persons served and hold in confidence all information obtained in the
course of professional service.
I will maintain confidentiality when storing or disposing of constituent records.
I will maintain a professional attitude that upholds confidentiality toward individuals served,
colleagues, applicants, and the Michigan Tech Fund.
I will, upon termination, maintain constituent and co-worker confidentiality, and I will hold as
confidential any information I obtained concerning the Michigan Tech Fund.
I will respect the rights and views of my colleagues and treat them with fairness, courtesy, and good
faith.
I will not exploit the trust of the public or my co-workers. I will make every effort to avoid
relationships that could impair my professional judgment.
I will not engage in or condone any form of harassment or discrimination.
I will respect the confidences of my co-workers.
When I replace a colleague or am replaced, I will act with consideration for the interest, character,
and reputation of the other professional.
I will extend respect and cooperation to colleagues of all professions.
I will not assume professional responsibility for the constituents of a colleague without appropriate
consultation with that colleague.
If I see the constituent of a colleague during a temporary absence or emergency, I will serve that
constituent with the same consideration afforded any constituent.
If I have the responsibility for employing and evaluating staff performance, I will do so in a
responsible, fair, considerate, and equitable manner.
If I know that a colleague has violated one of the above standards, I will bring this to my colleague’s
attention. If this fails, I will report the activity to my supervisor.
I will accurately represent my education, training, experience, and competencies as they relate to my
profession.
I will correct, when possible, misleading or inaccurate information and representations made by
others concerning my qualifications or services.
If serving as a supervisor, I will make certain that the qualifications of persons I supervise are
honestly represented.
I will abide by the Michigan Tech Fund policies related to public statements.
I have total commitment to provide the highest quality of service to those who seek my professional
assistance.
I will continually assess my personal strengths, limitations, biases, and effectiveness.
1.7
•
•
•
•
•
I will strive to become and remain proficient in professional practice and the performance of
professional functions.
I will act in accordance with standards of professional integrity.
I will not advise on problems outside the bounds of my competence.
I will seek assistance for any problem that impairs my performance.
I understand that violation of this code may be grounds for dismissal.
____________________________________________
Signature
_________________________________
Date
*This document will be signed at the date of hire and annually thereafter.
1.8
Date:
May 20, 1999
Category: Organization
Subject: Inclement Weather and Emergency Closings
Policy: It is the policy of the Michigan Tech Fund to close the Fund offices in extreme
inclement weather according to Michigan Tech advisement.
Purpose: The purpose of this policy is to establish guidelines for observation of office closing
due to inclement weather.
The Michigan Tech Fund will follow University policy.
In the event the MTU President closes the University, the President of the Michigan Tech Fund,
or his or her designee, may close the Michigan Tech Fund offices due to inclement weather or
emergency on days other than regularly scheduled holidays. Should this occur, every attempt
will be made to notify staff using announcements over local radio stations. Unless otherwise
requested, staff are not expected to work during an emergency closing.
The absence will be considered an excused absence for all staff, and will not be charged to
earned leave time. Should an emergency closing occur while an employee is already on earned
leave time (i.e., sick, vacation, personal), he or she is not entitled to additional wages.
Staff members who do not report for work because of the weather, in the absence of an official
closing that day, will be charged one day of vacation time.
1.9
Date:
May 20, 1999
Category: Organization
Subject: Safety Standards and Emergency Procedures
Policy: It is the policy of the Michigan Tech Fund to attempt to provide a safe workplace for all
of its staff.
Purpose: The purpose of this policy is to establish guidelines and procedures in the event of a
natural or manmade emergency.
Since the Michigan Tech Fund strives to ensure a safe workplace, it will be the responsibility of
each staff member to adhere to the following:
•
•
•
•
•
work according to good safety practices as posted, instructed, and discussed;
refrain from any unsafe act that might endanger oneself, the people we serve, or co-workers;
use all safety devices provided for his or her protection – failure to comply with safety
requirements could result in immediate dismissal;
report any unsafe situation or acts immediately to the supervisor; and
assume his or her share of the responsibility for thoughtless or deliberate acts that cause
injury to oneself, co-workers, or those we serve.
Fire Prevention
•
•
•
Electrical equipment should be turned off when not in use.
Staff should notify the supervisor of any equipment that has cracked or exposed wiring, is
causing a shock or emitting sparks, or appears to be a potential fire hazard.
Fire drills should be held periodically to keep staff aware of fire safety equipment and
procedures.
Procedures to follow in the event of an emergency condition:
An “emergency condition” includes a fire, full power failure, or other similar conditions.
Fire Emergency
•
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•
•
Staff should familiarize themselves with the location of fire exits, alarms, and extinguishers.
If a staff member sees smoke or fire, the fire alarm should be pulled to alert the people on
the floor and in the building. If it is a small fire, a nearby fire extinguisher may be used as
necessary.
Periodically, the fire alarm may sound when there is no smoke or fire because the system is
being tested. If this is the case, staff will be notified before the alarm sounds.
Do not use the elevator during a fire alarm.
If evacuation is called for, staff should use the closest unaffected exit. Staff should walk in a
single file, holding the stair railing, and stay to the right of the staircase. Proceed quickly
and calmly. Do not run.
1.10
•
•
•
If you are in smoke, stay low.
Move away from the building and congregate at the designated site; do not impede
emergency vehicles.
Only if time permits before evacuation of the building, secure classified information, turn
out lights, shut off equipment, and close doors.
Power Failures
•
•
Remain where you are. Emergency lights will activate in about 30 to 60 seconds. They are
located in strategic areas of the corridors and stairwells.
If you leave the building during a power failure, do not use the elevators. Once the building
has been exited, it is not advisable to re-enter until power is restored.
First Aid/Worker’s Comp
•
First aid supplies are located at each facility. Staff should familiarize themselves with their
location. For purposes of Worker’s Comp, all injuries should be reported to the Chief
Financial Officer and Director of Operations.
1.11
Date:
May 20, 1999
Category: Organization
Subject: Safety – Serious or Fatal Accident
Policy: It is the policy of the Michigan Tech Fund to provide care to all staff injured on the
premises.
Purpose: The purpose of this policy is to establish guidelines and procedures in the event of a
serious or fatal accident.
The person in charge at the scene will:
•
•
•
•
•
Give priority attention to providing all reasonable care for the injured person or persons.
Call doctor, ambulance, clergy, and police, as appropriate. Obtain names, addresses, and
phone numbers of all witnesses and a written statement of what happened if witnesses must
leave before police arrive.
In the event of a fatality, always notify the police. Retain a responsible adult at the scene of
the accident. See that no disturbance of the victim or surroundings is permitted until the
police have assumed authority.
Contact the President of the Michigan Tech Fund to report the emergency and to secure
additional assistance as needed.
Call these numbers in the following order:
1. President of the Michigan Tech Fund
2. Administrative Assistant
3. Chief Financial Officer and Director of Operations
Anyone involved in a serious accident, emergency, or fatality shall make no statement orally
or in writing that could be interpreted either as an assumption or rejection of responsibility
for the accident until all facts are known.
The President of the Michigan Tech Fund will:
•
•
•
•
•
Give priority attention to requirements at the scene of the accident or emergency as requested
and/or judged necessary for the utmost protection of the injured person or victim.
Notify the Executive Director of University Marketing and Communications who will act as
the Michigan Tech Fund’s spokesperson. Exercise care that no statements are made orally or
in writing that could be interpreted either as an assumption or rejection of responsibility for
the accident until all facts are known.
Insist that no comments be made to the news media.
Use the telephone for immediate communication with:
• The emergency contact person reporting the nature of the emergency; condition of the
injured person, and securing contact’s wishes regarding medical treatment,
hospitalization, transportation, and personal attendance.
• Insurance representative, attorney, and/or other official as appropriate.
Call all staff into office. Call in crisis team of Executive Director of University Marketing
and Communications, President of the Michigan Tech Fund, the Michigan Tech Fund’s
1.12
•
•
•
•
•
•
attorney, and persons sensitive to the community to handle media and draw up a statement.
Continue any further communication with next of kin with the advice of, or in the presence
of, the Michigan Tech Fund’s attorney.
Keep a team of two individuals to monitor the phones for continued reports of developments.
Respond to all calls pertaining to incident.
Keep a record of all telephone conversations and communications for the file. Provide space
for a press conference, if necessary, and confine media to that area. Issue a press release,
rather than hold a press conference, if possible.
Provide for press release, if requested, only that information that has been cleared by the
Fund’s attorney.
Complete and submit a written report to appropriate insurance companies.
Complete and submit a written report for the Fund’s files.
As follow-up to a serious accident, emergency, or fatality, the President of the Michigan Tech
Fund, in conjunction with the Executive Director of University Marketing and Communications,
will:
•
•
•
Decide what information is to be disseminated, to whom, and procedures for same.
Prepare a chronological report (Form F3.0), recording:
• Exact time of each occurrence
• Each step taken and by whom
• Exact statements made, to whom, and by whom
• Statements that have been read, approved, and signed by all persons involved
• A sketch of the scene, including pertinent physical objects and placement of people
involved
• Names and addresses of all witnesses
Attach to the report all consent forms, medical records, and other pertinent data. Make
copies of all for duplicate records.
1.13
Date:
May 20, 1999
Category: Organization
Subject: Personal Property
Policy: It is the policy of the Michigan Tech Fund that all personal property will not be the
responsibility of the Michigan Tech Fund.
Purpose: The purpose of this policy is to establish guidelines for personal property.
The Michigan Tech Fund is not responsible for loss or damage to staff members’ personal
property. Each staff member should take adequate precaution and care with any personal
possessions kept in the office.
1.14
OPERATIONS
Date:
May 22, 2000
Category: Operations
Subject: Records Retention
Policy: It is the policy of the Michigan Tech Fund to retain records in compliance with federal,
state, or local requirement for any period of time exceeding the legal requirements if deemed by
the Chief Financial Officer and Executive Director of Operations.
Purpose: The purpose of the policy is to set minimum retention periods for broad categories.
Specific records may be maintained longer, but not less than, the time period shown. Both the
primary record and the attached supporting documentation are retained.
Record Type
Retention Period
Financial statements
Originals retained permanently
Annual budgets
Originals retained permanently
Pledge reports
Originals retained permanently
Other accounting records
Seven years, then microfiched for permanent
retention
Corporate files
Originals retained permanently
Contracts
Kept until contract expires, then microfiched for
permanent retention
Records of gifts received
Originals retained for seven years, then destroyed
Other receipts
Originals retained for seven years, then destroyed
Vouchers (travel, invoices, etc.)
Originals retained for seven years, then destroyed
Bank statements and checks
Originals retained for seven years, then destroyed
Payroll (check register, earning
statements)
Originals retained for seven years, then destroyed
(earning records are retained permanently)
Personnel (applications, salary
history)
Originals retained until employee terminates, then
microfiched for permanent retention
Presidents Council and Foundation Originals retained until member’s death, then
Member files
microfiched for permanent retention
2.2
Wills and trust files
Originals retained until will or trust matures, then
microfiched for permanent retention
Fund files (correspondence
and agreement)
Originals retained until funds are all disbursed, then
microfiched for permanent retention
Telemarketing (prospect data
sheets and pledges)
Original pledge retained for one year after it has
been satisfied; refusal destroyed after data is
entered into data processing system
Chronological files
Originals retained for two years, then destroyed
Investment records
Maintained permanently
General ledger
Originals retained for seven years, then microfiched
for permanent retention
Miscellaneous (records that do
not fit in other broad categories)
Originals are maintained when they are referred to
at least annually, then destroyed when they become
inactive
2.3
Revised:
Created:
Category:
Subject:
April 6, 2002
May 20, 1999
Operations
Travel
Policy: It is the policy of the Michigan Tech Fund that the reasonable expenses associated with
traveling incurred by staff and others in connection with their position and responsibilities to be
paid on behalf of, or reimbursed to, such persons in a timely manner.
Purpose: The purpose of this policy is to establish uniform procedures for staff travel and
reimbursement.
Approvals: Prior approval must be obtained from the supervisor.
Registration Fees
An employee who is to attend a conference/seminar sends a completed check request to the
Michigan Tech Fund Finance Department. Registration materials and documentation
indicating what the registration fee includes should be attached to the check request. The
Finance Department will issue a check and mail it directly to the payee along with the
registration forms.
Lodging
The Michigan Tech Fund will pay only actual room costs supported by the hotel bill for each
day that lodging away from home is required for business reasons. When traveling,
employees are expected to use good quality, but reasonably priced hotels or motels
whenever practical. It is understood that when attending a conference, travelers will stay at
the conference hotel. Abuse of “reasonable” lodging costs by staying in higher priced
hotels may result in the employee absorbing the financial difference between “actual”
and “reasonable.”
The minimum corporate/government rate should always be requested and the original, paid
hotel bill should be attached to the Travel Expense Voucher for reimbursement (Form F5.0).
It is the employee’s responsibility to cancel reservations by the time required by the hotel.
The person canceling the hotel reservation should note the cancellation number and the name
of the person accepting the cancellation call. Room costs due to failure to cancel will be
deducted from subsequent reimbursement.
If there is a chance that arrival will be later than the required check-in time, employees
should request a guaranteed late-arrival reservation on their credit card.
Travel by Personal Vehicle
2.4
Travel by Personal Vehicle
Individuals who use a non-University vehicle for business-related travel will be reimbursed
for actual miles traveled at the effective mileage rate (current IRS rate). Insurance coverage,
gas, oil, towing, repairs, etc., are included in the mileage rate. When traveling on business,
the departure and termination point for determining the actual mileage will be the
employee’s home. Business travel does not include travel from home to office and/or
office to home. Reasonable vicinity mileage will be reimbursed, however, a log of vicinity
mileage should be attached to the Travel Expense Voucher when it exceeds 100 miles.
Individuals driving privately owned vehicles on official business are afforded NO protection
under the Fund’s insurance policy. Employees who receive an automobile or automobile
allowance may not charge mileage for use of a personal automobile.
Those individuals approving this mode of travel should consider that air travel may be less
expensive when time and subsistence costs are included. Every effort should be made to
travel at the most economic means practical. In general the extent of reimbursement will be
limited to those expenses which would have been incurred had the traveler moved from point
to point in a manner resulting in minimum cost to the organization.
Travel by Pool Vehicle
The University has a number of pool vehicles available for use by authorized individuals.
Although pool vehicles are furnished with gasoline credit cards, these cards may not always
be honored by certain vendors. When an individual must pay for such items as gasoline, oil,
or minor repairs, receipts must be attached to the Travel Expense Voucher in a separate
grouping which is charged to the pool vehicle account. These expenses will not be
reimbursed for a personally owned vehicle. For major repairs, contact the Motor Pool
Supervisor.
To drive a University-owned vehicle, an individual must have a valid driver’s license and
meet the terms and conditions of the Motor Pool policy.
Persons should call the Motor Pool at 487-2700 to reserve a vehicle. Instructions regarding
records to be kept and services to be performed for vehicles are given to the traveler at the
time the vehicle is obtained.
Unauthorized drivers and guest passengers, including spouse or relatives, are afforded NO
protection under the University’s insurance policy.
Accident Reporting
The driver of any University-owned vehicle which is involved in an accident must
immediately report the accident to a local law enforcement agency and must also report the
accident to the Motor Pool Supervisor as soon as possible. The University furnishes accident
report forms in the University vehicle’s glove compartment for the driver’s use when
reporting an accident. A completed report must be submitted for each accident involving a
University-owned vehicle, whether major or minor damage has occurred. Sign the
2.5
completed form and forward it to the Risk Management and Insurance office.
When another vehicle is involved, be sure to obtain the names and addresses of witnesses. If
witnesses are reluctant to provide this information, record the license plate number of two or
more cars that have stopped. Be sure to obtain the name and address of the insurance
company with whom the other driver is insured.
Individuals driving privately owned vehicles on official University business are afforded NO
protection under the University’s insurance policy.
Rental Car
The use of a rental car should be justified as an economical, business necessity and not as a
matter of personal convenience. All rentals should be at the corporate/government rate or the
lowest possible rate per day and a mid-size or smaller is recommended. When traveling in
groups, sharing of cars should be practiced to minimize costs. The use of rental cars is
appropriate for those situations where other methods of transportation are unavailable or
impractical.
All terms and conditions of the car rental agreement should be read and followed,
particularly with regard to who is authorized to drive the vehicle and driving on non-paved
roads. Violations of the agreement or any driving regulation may leave the Fund responsible
for additional damages. The Fund’s insurance policy does not cover rental vehicles.
Rental car companies provide optional insurance coverage for collision damage waiver,
personal accident insurance, and personal effects insurance.
• Collision Damage Waiver: Most rental car companies hold the renter responsible for
all damages to the vehicle, regardless of fault. This coverage should be declined due
to high cost and may be covered by several other sources such as:
• Personal automobile insurance. Travelers should check with their personal auto
insurance agent.
• Certain other charge cards. Check your charge card agreement for this or similar
coverage.
• Personal Accident Insurance: This coverage provides accident/medical and death
benefits, all of which are already provided to Fund employees. Travelers who accept
this optional coverage do so at their own expense.
• Personal Effects Insurance: This coverage provides against loss of property. Fund
property is covered under the Fund program. The traveler’s personal property may be
covered under the traveler’s own home owner/renter insurance. Check with your
insurance agent. Travelers who accept this optional coverage do so at their own
expense.
Procedure: An employee requiring the use of a rental car for business-related travel, does the
following:
• Makes all necessary arrangements with the appropriate rental car company.
• Saves all receipts (gas and car rental).
• Attaches documentation from the rental agency and gas receipts to the Travel
Expense Voucher.
2.6
Travel to/from Houghton County Airport
Travelers will be reimbursed for mileage (at the current IRS rate) from their home to the
airport and return. Actual parking fees will be paid without receipts if the fees are less than
$10 per day. This is to be entered on the Travel Expense Voucher as an “allowance for travel
to airport.”
Travel by Commercial Airlines
Travel by commercial airlines should be on the most reasonably priced economy flights
available between points of departure and destination.
While not mandatory, employees are encouraged to purchase airline tickets for Tech Fund
business from a Tech Fund-approved travel agency. You may charge the ticket directly to
the Michigan Tech Fund rather than using a personal credit card.
If the ticket is not paid by the Fund, travelers are required to retain the ticket coupon book
and submit this as the supporting documentation to their Travel Expense Voucher upon
completion of travel.
International Travel
All international travel excluding Canada must have prior approval of the President of the
Michigan Tech Fund. International expenses include expenditures incurred for travel, meals,
business meals, lodging, passport fees, airport taxes, exchange rate fees and fluctuations, and
other items necessary for the conduct of Tech Fund business. The source of the currency
exchange rate used to complete the Travel Expense Voucher (such as the date, bank, or Web
site used) must be indicated on the voucher. One currency converter can be accessed at
http://www.oanda.com/cgi-bin/nec.
The President of the Michigan Tech Fund must pre-approve, in writing, any travel on Tech
Fund business outside of the United States and Canada. The traveler will prepare a Foreign
Travel Request form which includes the following information: destination, date of
departure, date of return, purpose of travel, source of funds.
Meal Per Diem Rates
The Michigan Tech Fund will reimburse employees for reasonable meal expenses (breakfast,
lunch, dinner) incurred. Meals not covered in a conference fee are reimbursable at the per
diem rate which is established through federal guidelines and IRS regulations. The per diem
rate includes breakfast, lunch, and dinner.
The standard maximum allowances for meals, including tips can be found at
http://www.policyworks.gov/org/main/mt/homepage/mtt/perdiem/travel.htm.
However, if an employee is traveling to an “IRS Key City,” the allowances may be higher.
2.7
The IRS Key Cities and the applicable per diem rates can be found at the Web site noted
above.
To be in compliance with IRS guidelines, the meal per diem claimed must be the rate in
effect for the area where you stop for sleep or rest. Therefore, the per diem rate for each
calendar day is determined by the location where lodging is obtained for that night.
The costs of meals included as part of conventions and conferences are reimbursed at their
actual cost even though they may exceed the maximum allowances cited above. If meals are
covered in the registration fee, travelers should not claim meals they freely elect not to eat at
the conference.
Meals with donors/prospects need to be itemized under “entertainment” and an
Entertainment Form (Form F6.0) with receipt should accompany the Travel Expense
Voucher (Form F5.0).
Meals with co-workers outside of travel are not reimbursable unless authorized by the
President of the Michigan Tech Fund.
Expense Reporting
The policies and procedures described herein are in general terms to allow reasonable
flexibility and do not cover every possible situation. Items of an unusual nature should be
explained on the corresponding expense report.
All Travel Expense Vouchers will be reviewed to determine compliance with policies
concerning reimbursable travel expenses before a reimbursement is processed. The
authorizing individual remains accountable for ensuring compliance with all travel policies.
The traveler is expected to submit a Travel Expense Voucher within two weeks of
completion of travel. Processing vouchers which are received after this two-week period
may be delayed in processing.
The Chief Financial Officer shall submit a Travel Expense Voucher to the President of the
Michigan Tech Fund for approval.
Miscellaneous Expenses
Incidental expenses such as bridge toll charges, parking fees, and excess baggage handling
charges require receipts when the costs exceed $10. Laundry and dry cleaning services are
allowed when expenditures are supported by out-of-town receipts and are reasonable in
nature.
Telephone
Business and personal telephone calls will be reimbursed up to $10 per trip without receipts.
2.8
An original receipt (hotel or telephone bill) is required for telephone charges in excess of
$10/trip.
Michigan Tech calling cards are available from Telcom Customer Service at
telcom-request@mtu.edu or www.tc.mtu.edu/cs. Charges to University calling cards are not
included on the travel expense voucher, but are directly charged to an index.
Tips
Tips are reimbursable for normal services associated with business travel such as services,
porters, etc. Actual tips up to $4.00/day are allowed.
Taxi
The cost of taxis or other transportation to and from hotels, airports, etc., in connection with
business activities is reimbursable. If available and practical, public limousine transportation
to and from airports should be used. Long-term airport parking should be avoided.
Alternative travel arrangements to the airport should be made when the airport charges will
exceed the cost of a two-way taxi or limousine service.
Receipts are required when the costs exceed $25.00.
World Club
The cost of Northwest World Club membership for employees will be reimbursable with
prior approval by the President of the Michigan Tech Fund.
Dependent Care
Dependent care expenses in excess of those normally experienced will be reimbursed to
employees traveling on University business. Receipts are required and a maximum of
$50/day will be paid. Because this is a selective benefit in that only certain employees (those
with dependents) may be reimbursed, this reimbursement falls under IRS Code Section 61
and must be treated as taxable income to the recipient. Applicable FICA, federal, and state
taxes on the amount reimbursed to the traveler will be withheld from a future paycheck.
Completing the Travel Expense Voucher (Form F5.0)
Procedures: Within two weeks of completion of business-related travel, the employee does
the following:
• Completes a Travel Expense Voucher. A copy is available on the Michigan Tech
Fund Web site and in this manual.
• Attaches all original supporting documentation and receipts.
2.9
•
•
Obtains the signature of the supervisor.
Forwards the completed and approved Travel Expense Voucher, with all supporting
documentation and receipts attached, to the Tech Fund’s Finance Department.
Completing the Day Travel Expense Voucher (Form F7.0)
All travel expenses for trips which do not include an overnight stay must be reported on the
Day Travel Expense Voucher.
Within two weeks of completion of business-related travel, the employee completes a Day
Travel Expense Voucher which includes the following items:
• All original supporting documentation and receipts.
• The signature of the employee’s supervisor.
The employee then forwards the approved Day Travel Expense Voucher, with all supporting
documentation and attached receipts, to the Michigan Tech Fund’s Finance Assistant.
The Internal Revenue Service requires that any reimbursement for meals when there is no
overnight stay is taxable income to the employee. Applicable FICA, federal, and state taxes
will be withheld from a future paycheck on the amount reimbursed for meals.
2.10
Revised:
Date:
Category:
Subject:
April 16, 2005
October 13, 2001
Operations
Development of Policies and Procedures
Policy: It is the policy of the Michigan Tech Fund to develop, maintain, and follow a set of
policies and procedures for Tech Fund staff, regarding Tech Fund Organization, Operations,
Finance, Personnel, and Information Technology.
Purpose: The purpose of this policy is to establish the development process for new policies and
procedures.
The development of a new Michigan Tech Fund policy, or the amendment of an existing policy,
will follow this sequence:
1. Draft will be written internally.
2. All policies will be submitted to legal counsel for recommendations. If a policy is of a
financial nature, it will be presented to the external auditors for recommendations.
3. The internal policy and procedures committee reviews the draft and recommends the policy
to the Chief Financial Officer and Director of Operations.
4. The Chief Financial Officer and Director of Operations reviews and recommends
the policy to the President of the Michigan Tech Fund.
5. The President of the Michigan Tech Fund reviews and recommends the policy for approval.
6. Concurrence will be sought from appropriate Committees or Subcommittees of the Michigan
Tech Fund. The policy is recommended to the Michigan Tech Fund Board of Directors for
approval. (A complete copy of the policy will be sent to the full Board.)
2.11
Date:
October 13, 2001
Category: Operations
Subject: Scanned Signatures (Form F29.0 – Scanned Signature Form)
Policy: It is the policy of the Michigan Tech Fund to maintain certain scanned signatures for use
when signers are not readily available.
Purpose: The purpose of this policy is to establish guidelines for use and security of scanned
signatures.
Scanned signatures may be kept in computer files at the Michigan Tech Fund. Written
authorization (Form F29.0 – Scanned Signature Form) will be obtained from the signatories prior
to the scanning and saving of their signatures. These authorizations will be maintained by
Michigan Tech Fund Human Resources.
All signatures will be saved in a password-protected computer directory, accessible only by
custodians of record.
The use of a scanned signature indicates knowledge of the signatory of the issue being
addressed.
Signatures may be used in the following situations:
• updating Corporate Resolutions
• submitting matching gift forms
• sending letters to the Michigan Tech Fund Board from the Chair of the Board
• submitting stock authorizations
• completing real estate transactions
Scanned signatures will be used according to the acceptable uses and exceptions noted in the
Scanned Signature Form, Form F29.0. Scanned signatures will not be used to sign checks.
Scanned signatures are for official use only. Custodians will initial all uses of scanned
signatures.
Example: GAM:jrh (where jrh is the custodian)
2.12
Date:
April 6, 2002
Category: Operations
Subject: Advancement Spousal Travel
Policy: It is the policy of the Michigan Tech Fund to pay for official business travel, for
fundraising purposes, of the spouses of the University President, Provost, Vice Presidents,
Deans, or other qualified individuals approved by the Provost.
Purpose: The purpose of this policy is to provide guidelines for when the Michigan Tech Fund
will pay for the travel of a qualified individual’s spouse.
Guidelines
Funds from a custodian’s discretionary demand account, or in the case of the Michigan Tech
President or the Vice President for Advancement, the Michigan Tech Fund operating fund may
be used for the travel of a spouse of a qualified individual on official business travel for
fundraising purposes. This reimbursement is considered a working condition fringe benefit
under Treasury Regulation §§1.132-5(s) and 1.132-5(t), and the value will not be included in the
employee’s wages. If it is determined that the travel was not a legitimate business expense, the
value shall be added to the employee’s wages and taxed accordingly.
Accompanying spousal travel is expected to be infrequent and required for special or exceptional
purposes. Michigan Tech Fund rules and policies governing employee travel, lodging
accommodations, and meals will apply to the accompanying spouse.
Procedure
The qualified individual using funds from a custodian’s discretionary demand account will
request in writing advance approval from the Provost for the accompanying spouse to participate
in official business travel. This written request must include sufficient justification for spousal
travel to warrant reimbursement from the Michigan Tech Fund.
The qualified individual will either
•
•
book the ticket directly through the Michigan Tech Fund-approved travel agency,
charging the cost to the Michigan Tech Fund, and send an email (including the dates of
the travel, destination, the reason for travel, and the cost of the ticket) to the Finance
Assistant that the booking has occurred; or
pay for the ticket and request reimbursement using the Travel Expense Voucher.
Per diem will be given to the spouse for meal costs. The increase in the hotel room fee (when
the hotel charges more for the second person occupying the room) will also be reimbursable. All
expenses are to be included on the Travel Expense Voucher of the qualified individual; a
separate Travel Expense Voucher is not necessary.
2.13
Date:
October 11, 2003
Category: Operations
Subject: Disposal of Michigan Tech Fund Equipment, Materials, and Furnishings
Policy: It is the policy of the Michigan Tech Fund to appropriately dispose of equipment,
materials, and furnishings no longer needed by the Fund.
Purpose: The purpose of this policy is to establish the protocol for disposal of Michigan Tech
Fund property.
Prior to disposal of equipment, materials, or furnishings, the item will be evaluated for potential
use, either through repair or use by other departments within the Michigan Tech Fund or
Michigan Technological University. In consultation with appropriate University personnel (e.g.,
Manager of Information Services for Development if the equipment in question is computer
related), the Chief Financial Officer will be the final arbiter.
If no use is found, repair is deemed too costly, or the item has reached the end of its useful life
cycle, the following steps will be taken in the order listed:
1. The item will be offered for sale to Michigan Tech Fund employees. In the case of
computer-related equipment, the employee who has been using the equipment will be given
first right of refusal. (Reference Information Technology: Reuse of Equipment.) The
University’s Accounting Services may assist in determining a fair market value.
Note: If the property is a computer, the minimum selling price will be the cost of
reformatting the hard drive.
2. In the case where the employee has exercised the right of refusal, and more than one other
employee indicates an interest in acquiring the equipment, materials, or furnishings, a name
will be drawn from the pool of names of the interested employees.
3. The item will be offered for sale to University employees.
4. The purchaser will be allowed three days to complete the sale.
5. The item will be offered to another nonprofit organization.
6. If the item is determined to have insufficient value to warrant an effort to dispose of it by
these means, the item may be discarded. If the item is environmentally hazardous, care will
be taken to ensure that environmental regulations are followed.
When the disposal of a piece of Michigan Tech Fund property is completed, a record will be
created noting the approving authority and the method of disposal.
Cross reference: Information Technology/Reuse of Equipment
2.14
FINANCE
Revised:
Created:
Category:
Subject:
October 11, 2003
May 20, 1999
Finance
Cash Receipts
Policy: It is the policy of the Michigan Tech Fund that all monies received by and on behalf of
the Fund will be recorded and deposited according to written procedures.
Purpose: The purpose of this policy is to define the guidelines for cash receipts for money
received by the Michigan Tech Fund.
Money received will be recorded on a Gift Registry indicating amounts, date of receipt, and
source.
a. The person opening the mail will sign the Gift Registry.
b. Money is to be receipted daily.
c. Receipts will be sent to donors in approximately five days of the gift reaching the
Michigan Tech Fund Finance Department (after data processing is complete).
d. Thank you letters will be generated as deemed appropriate.
e. Staff will verify totals and prepare deposit slips.
f. Bank deposits will be made at least three times a week.
g. A finance staff member will compare records of cash receipts and summaries to deposit slips.
h. Records of cash receipts will be coded and entered into the system.
3.2
Revised:
Created:
Category:
Subject:
March 29, 2003, March 2001
May 20, 1999
Finance
Cash Disbursements
Policy: It is the policy of the Michigan Tech Fund that cash disbursements be made in
accordance with applicable laws, regulations, and all other applicable agreements governing or
restricting the use of Michigan Tech Fund monies.
Purpose: The purpose of this policy is to establish uniform procedures for disbursing Michigan
Tech Fund monies.
Guidelines: Disbursements of Fund monies shall be made to the University departments and/or
for Michigan Tech Fund operations only upon authorization by the appropriate approval as per
this policy.
Allowable Expenses: Allowable expenses ordinarily include direct payment for, or
reimbursement of, the actual costs incurred in fulfilling the donors’ intent in meeting the needs
of the department. A written description of the intended uses of all Fund accounts for which
departmental payments or reimbursements can be made shall be maintained and followed by the
custodians of the Michigan Tech Fund funds (per the MTU policy). The following clarifications
are provided in response to questions raised by departments to help assure the appropriate
expenditures of Fund monies.
Fundraising travel: Fund monies may be spent for reasonable expenses incurred in fundraising
travel. Follow procedures outlined below for actual disbursement of funds.
Employee/department gifts: The Michigan Tech Fund discretionary funds may be used for
gifts, flowers, memorials, or similar items only to the extent that such expenditures are
reasonable.
Employee/department gatherings: Restricted funds may be used for parties, retreats, dinner,
or other gatherings only to the extent that the account description states that this is an intended
purpose of the account and such expenses are reasonable in cost. Discretionary funds may be
used at the discretion of the fund manager for such activities only to the extent that such
expenditures are reasonable in cost. Examples of allowed expenses include departmental
functions that are reasonable in cost or staff retreats that are for business-related purposes.
Neither discretionary nor restricted funds may be used for parties, retreats, dinner, or other
gatherings that are for the sole private benefit of individual faculty, staff, or their families, or
when there is no primary University business purpose.
Payments to students: All scholarship, award, loan, or other payments to be made to students
must be transferred to an appropriate University account for payment by the University. No
scholarship, loan, advance, travel award, or other payment may be made from a Fund account
directly to a student. This limitation is not applicable to permitted reimbursements for
organization-related gatherings and travel-related expenses.
3.3
Payments to individuals: No payment of salary, awards, or honoraria can be made directly
from Fund accounts to an individual employed by the University. This limitation is not
applicable to permitted reimbursements for appropriate employee/department gatherings and
travel-related expenses.
Donations: Fund accounts are not to be used for donations outside of the University such as to
charitable organizations, charitable events, or fundraisers.
Sales Tax: Because Michigan Technological University and the Michigan Tech Fund are tax
exempt, sales tax is not an authorized disbursement.
Procedure:
The Finance Assistant shall disburse checks on a weekly basis according to the following:
All requests for disbursements shall be to the Finance Assistant by 5:00 PM Friday to be
included in the following week’s check run.
A Check Request Form (Form F8.0 or F9.0) shall be prepared for each vendor.
For requests from the Michigan Tech Fund Operating Budget
• The Finance Assistant prepares a Check Request Form for monthly contracts, rents,
utility bills, etc.
• Invoices sent to the Michigan Tech Fund finance department pertaining to a specific
department at the Fund are forwarded to the particular department for preparation of a Check
Request Form (Form F8.0).
• The following approvals will be required for disbursements from the Michigan Tech Fund
Operating Budget:
• All Fund Check Request Forms must be signed by the supervisor of the person initiating
the check request or credit card purchase.
• Fund Check Request Forms greater than $5,000 but less than $25,000 require approval
from the Chief Financial Officer of the Michigan Tech Fund or designee.
• Fund Check Request Forms greater than $25,000 require the approval of the President of
the Michigan Tech Fund or designee.
• The following approvals will be required for University disbursements for Demand and
Endowed Funds (Form F9.0):
• All Check Request Forms require approval from the Fund Manager or designee.
• Check Request Forms equal to or greater than $5,000 but less than $25,000 require
approval from the Fund Manager or designee, and Department Head or higher (Chair,
Dean, Director, Vice President, or President, depending on the reporting level of the
Fund Manager) or designee.
• Check Request Forms equal to or greater than $25,000 (or group requests totaling
$25,000 or greater) but less than $100,000 require the approval from the Fund Manager
or designee, and Vice President for Advancement or designee.
• Check Request Forms equal to or greater than $100,000 require approval from the Fund
Manager or designee and the University President or designee.
3.4
All interdepartmental charges and all scholarship disbursements shall require approval by the
Chief Financial Officer of the Michigan Tech Fund, acting as the fund manager. All appropriate
documentation shall accompany requests.
• Requests equal to or greater than $25,000 also require the approval of the Vice President
for Advancement or designee.
• Requests equal to or greater than $100,000 also require the approval of the University
President or designee.
•
•
•
•
The Check Request Form, with the invoice attached, is then forwarded to the Finance
Department at the Michigan Tech Fund.
All requests for payment through charge accounts at the University (print shop, bookstore,
etc.) must have proper documentation (invoice, receipt). The interdepartmental charges shall
be paid on a monthly basis.
A Michigan Tech Fund Fund Authorization Form (Form F10.0) must be on file at the
Michigan Tech Fund prior to requesting disbursements.
Upon receipt of a Check Request Form, the Finance Assistant will:
• Verify the following:
• Vendor information.
• Fund number and account numbers the expense will be charged against in the General
Ledger.
• If the vendor needs to be included in 1099 reporting to the IRS.
• If the expenditure is allowable per the purpose statement on the Michigan Tech Fund
Fund Authorization Form.
• If the necessary approval signatures have been obtained.
• Payment due date.
• Enter the Check Request Form into the computer system.
• Run Accounts Payable Check Register to balance the total amount against total
expended.
• Obtain approval from the Chief Financial Officer (or designee) prior to releasing checks.
• Prepare the checks.
The Accounting Manager will approve checks for payment.
Specific Michigan Tech Fund employees are authorized to sign checks.
• Checks $1,000 and greater require signatures of two authorized signers.
• Checks less than $1,000 requires the signature of one authorized signer.
•
•
•
•
The Finance Assistant then files the master disbursement list and copies of all
documentation.
The actual checks are either hand delivered, mailed, or put into interoffice envelopes and sent
to the appropriate campus department by the Finance Assistant.
Blank Accounts Payable checks are stored in a locked file cabinet. The Finance Assistant
and the Director of Finance have access to the key for the file cabinet.
Checks must be signed by an authorized staff person other than the person to whom the
check is made out.
3.5
Revised:
Created:
Category:
Subject:
March 29, 2003
May 20, 1999
Finance
Review Balances in Demand and Endowed Funds
Policy: It is the policy of the Michigan Tech Fund that balances in all of the funds be balanced
on a monthly basis.
Purpose: The purpose of this policy is to establish guidelines and procedures for monitoring all
balances in the Demand and Endowed Funds.
Bank statements are received and reviewed on a monthly basis.
A member of the accounting staff will reconcile all statements to the General Ledger on a
monthly basis.
3.6
Date:
May 20, 1999
Category: Finance
Subject: Establishment of New Funds
Policy: It is the policy of the Michigan Tech Fund to establish new funds as the need arises.
Purpose: The purpose of this policy is to establish guidelines for requesting the opening of a
new fund.
Funds are opened if the intent of the fund is for the overall benefit of students.
New funds are requested from a number of areas (Form F10.0):
C
C
C
President, Vice President, Provost
Deans, department heads
Michigan Tech Fund finance staff
Approval to establish a new fund is obtained from the Chief Financial Officer and Director of
Operations.
Forms to open a new fund are requested from the Finance Assistant. Proper approval needs to be
obtained on the Account Authorization Form.
The Finance Assistant opens new funds using established “Banner” procedures.
3.7
Revised:
Created:
Category:
Subject:
March 29, 2003
May 20, 1999
Finance
Check Signing
Policy: It is the policy of the Michigan Tech Fund that all disbursements of Fund monies must
be signed by appropriate staff.
Purpose: The purpose of this policy is to establish procedures and guidelines for signing checks.
Any one of specific Michigan Tech Fund employees who are authorized signers on the account
may sign checks less than $1,000. Any two of the authorized signers on the account may sign
checks equal to or greater than $1,000. A copy of the financial institution’s signature card
(listing the authorized signers) will be maintained and updated as necessary by the Human
Resources Coordinator.
The Finance Assistant then files the master disbursement list and copies of all documentation.
The actual checks are either hand delivered, mailed, or put into interoffice envelopes and sent to
the appropriate campus department by the Finance Assistant.
Blank accounts payable checks are stored in a locked file cabinet. The Finance Assistant and the
Director of Finance have access to the key for the file cabinet.
Checks must be signed by an authorized staff person other than the person to whom the check is
made out.
3.8
Date:
May 20, 1999
Category: Finance
Subject: Travel Expense Reimbursement
Policy: It is the policy of the Michigan Tech Fund that mileage and expense reimbursement be
submitted in writing according to established procedure in order to be reimbursed through the
Finance Department.
Purpose: The purpose of this policy is to ensure an efficient and systematic method for
requesting and processing mileage and expense reimbursements.
Procedure: A Travel Expense Voucher (Form F5.0) must be completed by the employee,
detailing expenses for which reimbursement is requested.
C
C
Individual employees are responsible for completing the form and submitting it in a timely
manner to their immediate supervisor for approval.
Substantiations
C Meal expenses at the standard allowance need not be substantiated.
C Lodging expenses must be substantiated by an original receipt from the lodging facility
in order to be reimbursed.
C Rental auto charges must be substantiated by an original receipt from the rental agency in
order to be reimbursed.
Expense checks will ordinarily be issued every week as accounts payable disbursements are
made. Fully completed vouchers must be to the Finance Assistant by 5:00 PM the preceding
Friday in order to be included in the following week’s check run.
Cross reference: Travel Expense Policy
3.9
Date:
Revised October 12, 2006
Category: Finance
Subject: Investment Policy
Purpose: The purpose of the Investment Policy Statement is intended to outline: 1) Asset mix
guidelines; 2) Investment planning horizon, 3) Investment return objectives, 4) Investment
Manager evaluation criteria, and 5) Monitoring and control procedures.
(Policy follows)
3.10
The Michigan Tech Fund
STATEMENT OF INVESTMENT POLICY
APPROVED FEBRUARY 2011
3.11
TABLE OF CONTENTS
Executive Summary ................................................................................................................................................... 2
Introduction and Purpose .......................................................................................................................................... 3
Scope of Policy ......................................................................................................................................................... 4
Delegation of Responsibilities ................................................................................................................................. 5
Investment Policies and Objectives .......................................................................................................................... 9
Appendix A – Summary Table of Fund Investment Criteria ................................................................................... 15
Appendix B – Comparative Indices for Traditional Investment Managers............................................................ 16
Appendix C – Endowment Fund Objectives and Guidelines .................................................................................. 17
Appendix D – Demand Fund Objectives and Guidelines ....................................................................................... 19
Appendix E – Unrestricted Fund Objectives and Guidelines................................................................................. 20
Appendix F – Specialized Fund Objectives and Guidelines ................................................................................... 21
Appendix G – Gift Annuity Fund Objectives and Guidelines ................................................................................. 22
Appendix H – Quasi-Endowment Fund Objectives and Guidelines ........................................................................ 23
Signatures .............................................................................................................................................................. 27
Investment Policy Page 1 of 24
3.12
Statement of Investment Policy for
Michigan Tech Fund
EXECUTIVE SUMMARY
•
The Board of Directors (the “Board), ultimately, is responsible for making the decisions that
affect Michigan Tech Fund’s investment (the “Funds”). The Board receives information and
recommendations from the Investment and Finance Committee (the “IF Committee”).
•
The Policy Asset Allocation decision is, arguably, the most important decision made by the
Board with regard to the Investment Funds. The Board is responsible for determining the
Policy Asset Allocation target, and permissible asset class ranges while the IF Committee is
granted the responsibility to act within those approved asset class ranges, determining and
allocating among sub-asset classes.
•
The Board is willing to accept an overall level of risk commensurate with the Policy Asset
Allocation.
•
The IF Committee is charged with recommending the investment policy and permissible
asset class ranges.
•
The Long-Term Objective of the Endowment Fund is to achieve a total return equal to or in
excess of the Endowment Fund’s financial requirements over the Time Horizon. In addition
to achieving the Spending Rate, the Policy Asset Allocation, as described herein, is designed
to cover the costs of inflation, investment management/consulting fees, administrative costs,
any growth factor, which the Board may, from time to time, determine appropriate.
•
The Investment Consultant is charged with monitoring the Investment Funds’ performance
and recommending investment strategies to the IF Committee.
•
Investment Managers are required to invest assets in accordance with the guidelines and
restrictions dictated by the Statement of Investment Policy.
•
Investment Managers are required to demonstrate acceptable performance relative to a target
benchmark and volatility of returns. Guidelines are established regarding, for example, the
use of leverage, the maximum weighting of any one company or economic sector in a
portfolio, and the amount of cash that may be held by a manager.
Investment Policy Page 2 of 24
3.13
INTRODUCTION AND PURPOSE
This Statement of Investment Policy is set forth to:
1. Define the investment policies, guidelines and objectives governing the various assets for
which the Michigan Tech Fund is responsible.
2. Create a framework from which the IF Committee can evaluate performance, explore
new opportunities, and make recommendations to enhance the investment portfolio.
3. Provide guidance for, expectations of, and limitation on, all parties bearing investment
responsibilities for the Michigan Tech Fund.
The intent of this Statement is to design an investment strategy with specific parameters that
reflect the philosophy of the Board, thereby providing the IF Committee with clearly defined
policies and objectives. Although these policies and objectives are intended to govern the
investment activity, they are designed to be sufficiently flexible in order to be practical. Specific
portfolio guidelines will be contained in separate Appendices. The assets for which the
Michigan Tech Fund is responsible for include the Endowment Fund, Demand Fund,
Unrestricted Fund, Specialized Accounts, Quasi-Endowment, and the Gift Annuities.
Investment Policy Page 3 of 24
3.14
SCOPE OF POLICY
This Statement of Investment Policy applies to all investable assets held by the Michigan Tech
Fund on behalf of Michigan Technological University. Separate pools with different purposes
have been established as follows:
Endowment Fund: Defined as funds contributed with the specific requirement that the
contributions be invested permanently and only income is spent for the purposes for which the
contributions were given. Use of the income is specified in documents on file with the Fund. The
Board controls cash-flow requirements and investment decisions from a long-term perspective.
Examples include: scholarships, faculty endowments and grants, departmental use, equipment,
fellowships, awards, and other.
Quasi Endowment Fund: Defined as funds for specific non-endowed purposes for which the
Fund serves as a custodian and manager. Typically, these funds are larger in nature and have a
strategic plan use of one to five years. Examples include: Athletics, Departmental, Equipment,
Fellowships, Grants, Student Loans, Awards, Scholarships, Senior Challenges, and Other.
Demand Fund: Defined as funds received for specific non-endowed purposes for which the
Fund serves as a custodian and manager. These may be contributions or deposits. Withdrawals
from funds, including principal, may be made at any time with the authority of the fund manager,
who is typically a University department head or their designee. There are no specific cash-flow
requirements for these funds. Examples include: Athletics, Departmental, Equipment,
Fellowships, Grants, Student Loans, Awards, Scholarships, Senior Challenges, and Other.
Unrestricted Fund: Sources of funds for this category include unrestricted bequests,
unrestricted annual gifts, and fees assessed by the Michigan Tech Fund.
Specialized Accounts: Special accounts established to meet unique donor request. These are
established to fulfill specified investment guidelines or income requirements. Examples include:
Bosch Fund, and Marshall & Ilsley funds.
Gift Annuities: Special accounts established for planned gifts received for annuities.
Investment Policy Page 4 of 24
3.15
DELEGATION OF RESPONSIBILITIES
Relationship between Board and IF Committee
The Board, ultimately, is responsible for making the decisions that govern all aspects of the
Michigan Tech Fund’s investments. The Board has created the IF Committee, a working
committee of the Board to coordinate the activities of Investment Managers, the Investment
Consultant and the Custodian, and to study issues pertinent to the Funds. The Board has
delegated authority to the IF Committee to act on behalf of the Board in the performance of the
Committee’s delegated responsibilities as set forth below. The IF Committee shall report to the
Board on its activities.
The Board’s responsibilities include:
1. Engaging outside agencies to provide administrative and custodial services and outside
independent auditors to account for the Funds’ assets and activities, and
2. Approving changes to the Statement of Investment Policy as recommended by the IF
Committee.
3. Approving the asset allocation policy and permissible asset class ranges.
IF Committee of the Board
The Board sets investment objectives and performance measurement standards. In turn, the
Board has delegated to the IF Committee the responsibility to oversee the Funds’ investment
management on its behalf. The IF Committee has the responsibility to ensure that the assets of
the Michigan Tech Fund are managed in a manner that is consistent with the policies and
objectives of the Fund. In so doing, the IF Committee will comply with all applicable laws. The
IF Committee members are required to discharge their duties solely in the interest of the Fund
and for the exclusive purpose of meeting the financial needs of Michigan Tech. The IF
Committee is authorized to engage the services of registered Investment Managers who possess
the necessary specialized research facilities and skill to meet the investment objectives and
guidelines of the Funds. The IF Committee will require the Investment Managers to adhere to
any policies adopted by the Board.
The IF Committee’s responsibilities include:
1. Reviewing recommendations from the Consultant and any Subcommittees,
2. Recommending investment policy and asset class ranges for Board approval, and acting
within those approved asset class ranges, determining and allocating amongst sub-asset
classes,
3. Selecting Investment Managers, Consultants, Custodians, and other Advisors, in
accordance with this policy,
4. Recommending Consultants, custodians, and other Advisors to the Board for approval,
5. Developing investment policy guidelines for approval by the Board,
Investment Policy Page 5 of 24
3.16
6. Developing investment objectives and performance measurement standards that are
consistent with the financial needs of Michigan Tech, for approval by the Board,
7. Reviewing the Policy Asset Allocation and rebalancing strategies and selecting the
Investment Managers,
8. Reviewing and evaluating investment results in the context of predetermined
performance standards, and implementing corrective action as needed,
9. Reporting to the Board, and
10. Recommending Spending Policy guidelines for approval by the Board.
Consultant
The IF Committee may recommend to the Board the engagement of an independent investmentconsulting firm to assist the Fund in the attainment of the Funds’ objectives and to monitor
compliance with the stated investment policies. The Consultant is expected to be proactive in
recommending changes in investment strategy, asset allocation, and investment managers if the
situation warrants change. The Consultant’s responsibilities are as follows:
1. Assisting in the development of investment policies, objectives, and guidelines,
2. Preparing asset allocation analyses as necessary and recommending asset allocation
strategies with respect to the Funds’ objectives,
3. Recommending Investment Managers (including search and selection),
4. Preparing and presenting performance evaluation reports,
5. Attending IF Committee meetings to present evaluation reports on a quarterly basis and
at other meetings on an “as needed” basis,
6. Reviewing contracts and fees for both current and proposed Investment Managers for
conformance to industry standards,
7. Reviewing and developing special investment strategies that complement existing asset
classes or strategies to be considered by the Committee,
8. Communicating investment policies and objectives to the Investment Managers,
monitoring their adherence to such policies and reporting all violations,
9. Notifying the IF Committee of any significant changes in personnel or ownership of the
consulting firm,
10. Assisting the IF Committee in special tasks,
11. Notifying the IF Committee of commencement of any litigation or enforcement or other
regulatory action known to Consultant involving a violation of securities regulations in
which any Investment Manager recommended by Consultant is involved,
12. Notifying the IF Committee of any significant changes known to Consultant in portfolio
managers, personnel or ownership of any investment management firm recommended by
Consultant,
13. Assisting in the rebalancing of the portfolios,
14. Evaluating the Endowment Fund and other investment pools designated in the Consulting
Agreement,
15. Providing research on specific issues and opportunities,
16. Being proactive in fulfilling these responsibilities with management and the IF
Committee in the management of the Funds, and
17. Reviewing the annuities and their investment strategy.
Investment Policy Page 6 of 24
3.17
Investment Managers
Investment Managers are expected to pursue their own investment strategies within the
performance guidelines created for individual managers in accordance with Michigan Tech Fund
selection criteria. Coordination of the guidelines for the individual managers assures the
combined efforts of the managers will be consistent with the overall investment objectives of the
Funds.
The Investment Managers’ general responsibilities include but are not limited to:
1. Investing assets under their management in accordance with agreed upon guidelines and
restrictions,
2. Exercising discretionary authority over the assets entrusted to them, subject to these
agreed upon guidelines and restrictions,
3. Providing written documentation of portfolio activity, portfolio valuations, performance
data, and portfolio characteristics on a quarterly basis in addition to other information as
Requested by the Committee or Consultant,
4. Voting proxies for the assets under management (companies held within the portfolio) in
the best interest of the Funds, and
5. Annually providing to the Michigan Tech Fund either a copy of the investment advisor's
form ADV Part II (SEC required disclosure document), a copy of the investment
company’s annual report, and/or a copy of the fund’s updated prospectus (SEC
requirement at the end of the fiscal year).
Investment Policy Page 7 of 24
3.18
The Custodian’s responsibilities are as follows:
1. Providing timely reports detailing investment holdings and account transactions monthly
to the Michigan Tech Fund and Consultant.
2. Providing an annual summary report to the Michigan Tech Fund and the Consultant
within 30 days following each fiscal year end. The report will include the following:
a.
b.
c.
d.
e.
f.
g.
Statement of all property on hand,
Statement of all property received representing contributions to the accounts,
Statement of all sales, redemptions, and principal payments,
Statement of all spending from the account,
Statement of all expenses paid,
Statement of all purchases, and
Statement of all income.
3. Establishing and maintaining accounts for all Investment Managers of the Funds,
4. Providing all normal custodial functions including security safekeeping, collection of
income, settlement of trades, collection of proceeds of maturing securities, daily
investment of uninvested cash, etc., and
5. Preparing additional accounting reports as requested by the Michigan Tech Fund, IF
Committee, or Consultant.
Investment Policy Page 8 of 24
3.19
INVESTMENT POLICIES AND OBJECTIVES
General Investment Philosophy
Objective: The Objective and general investment criteria of each of the Funds shall be
described in Appendix A of this document.
The investment objectives of the six separate Pools within the Michigan Tech Fund are based on
each Pool’s investment horizon, allowing interim fluctuations to be viewed in an appropriate
perspective. While there cannot be complete assurance that the defined objectives will be
realized, it is believed that the likelihood of their realization is enhanced by diversification of the
Funds.
Over time, each of the six separate Pools constituting the Michigan Tech Fund will aim to
achieve its specific Objective while maintaining acceptable risk levels. To accomplish this goal,
the Funds will diversify assets among several asset classes. Appendix B provides permissible
asset classes and appropriate index measures of these classes.
The following return objectives are designed to coincide with the Objective of the Funds. All
Objectives for the Funds and Investment Managers described below are understood to be net of
(after) investment expense.
1. Total Fund assets should achieve an annualized nominal rate of return equal to or greater
than that of the Objective.
2. Total Fund assets should return, over trailing twelve month periods, a nominal rate of
return greater than or equal to a composite index created by combining various indices
(Appendix B) in the same proportion as the Fund’s target allocation (as described in the
Asset Allocation section of this document).
3. In general, active managers will be expected to provide returns greater than their
appropriate benchmark, net after fees, while utilizing acceptable risk levels, over moving
thirty-six-month periods. In contrast, index, or passive managers will be expected to
provide returns very nearly identical to the appropriate benchmark, before reasonable
fees, with no more volatility than the benchmark.
Volatility and Risk
The IF Committee believes that the Objectives can be achieved while assuming acceptable risk
levels commensurate with “market” volatility. “Market” volatility is defined as the trailing
three-year standard deviation of investment returns (based on monthly data) of the benchmark
indices deemed appropriate.
Investment Policy Page 9 of 24
3.20
The IF Committee further believes that the greatest investment risk the Funds face is the
probability of failing to meet the Funds’ Objectives over the Time Horizon. Therefore, to
minimize the probability of failure, thereby minimizing risk, the following variables should be
considered by the Committee in all aspects of the decision-making process with regard to the
Funds’ investable assets:
•
•
•
Probability of Missing the Objective
Impact of Inflation on the Funds
Asset/Style Allocation as the primary determinant of long-term performance
Spending Rate Policy
Sources of Spending
The Spending Rate Policy, as well as the Spending Rate, may differ among the Funds due to the
various purposes and time horizons of each investment pool. The application of these elements
for the Endowment Fund is fully described in Appendix C.
Total Return Policy
The Board has adopted a “total return” approach to calculating investment returns. The IF
Committee recognizes that the Funds’ total return is comprised of both traditional “income” and
realized and unrealized net capital gains.
In recognition of these facts, the IF Committee has determined to consider the Funds’ total return
from both income and net realized and unrealized capital gains when administering the Spending
Rate Policy. When distributions are made, they will be withdrawn from the Funds regardless of
the portion of the total return that is from capital gains or from income.
Administrative Fees
Administrative fees are defined as fees charged back to the Endowment, Quasi-Endowment, and
Demand Funds calculated on the expected return and principal balance in each of the Funds.
Asset Allocation
The single most important recommendation made by the IF Committee is the Policy Asset
Allocation. Investment research has determined that a significant portion of a portfolio’s
investment behavior can be attributed to (1) the asset classes/styles which are employed by the
Fund, and (2) the weighting of each asset class/style. It is the responsibility of the IF Committee
to identify the Policy Asset Allocation that offers the highest probability of achieving the Funds’
investment objectives. The IF Committee, with guidance and recommendations from their
Consultant shall review the asset mix on an ongoing basis and recommend revisions to the Board
as necessary.
Investment Policy Page 10 of 24
3.21
The Policy Asset Allocation shall be determined based on a comprehensive asset allocation study
completed by the Consultant and reviewed from time to time, in depth. The Policy Asset
Allocations of the Funds, as presented in Appendix C–H, is designed to give balance to the
overall structure of the Michigan Tech Fund’s investment program over the Time Horizon.
However, some factors may impact the Policy Asset Allocations, thereby requiring an asset
allocation review and possible rebalancing. Some of these factors include:
1. The Committee’s assessment of the intermediate or long term outlook for different types
of asset classes and styles,
2. The Consultant’s assessment of the intermediate or long term outlook for different types
of asset classes and styles and,
3. Divergence in the performance of the different asset classes and styles.
Portfolio Rebalancing
Since Policy Asset Allocation is the most critical component of the Funds’ returns, it is desirable
to rebalance the Funds periodically to minimize deviations from the Policy Asset Allocation mix.
The Funds shall be automatically rebalanced in the event any individual traditional asset class
allocation differs from policy by more than 20% of the target weight, but with a minimum
deviation threshold of 2% of the total portfolio value.
For example, if the Policy Asset Allocation for an asset class is 3% of the total portfolio, then the
portfolio’s actual allocation must be either below 1% or above 5% of the total portfolio before
rebalancing is required. In the example below, U.S. large-cap stocks have a Policy Allocation of
3.0% and an actual allocation of 5.4%. Thus, their 2.4% difference (5.4% minus 3.0%) meets the
2.0% minimum deviation threshold. In addition, the U.S. large-cap stocks are also out of balance
by more than 20% of their target weight. They are out of balance by 78.9% of their target
weight. Therefore, rebalancing is required in this example.
Market Value as of 12/31/00
Asset Class
Market Value
Actual
Allocation
Policy
Allocation
Difference
Absolute
Percentage
Rebalance
(Yes or No)
US Lg Stks
$5,500
5.4%
3.0%
$2,425
2.4%
78.9%
YES
Fixed Income $97,000
94.6%
95.0%
($375)
-0.4%
-0.4%
NO
Total
100%
98%
$0
0.0%
0.0%
NO
$102,500
The Consultant will inform the administration at the close of any month in which
rebalancing a Fund is necessary. The Consultant, together with administration, will complete
the rebalancing process and notify the IF Committee. The Consultant will assist the Michigan
Tech Fund’s Staff as needed in the process of implementing any rebalancing.
Investment Policy Page 11 of 24
3.22
Permissible Investments
The Policy Asset Allocation of the Funds is expected to include a wide range of asset classes.
These asset classes and their relative comparative indices are displayed in Appendix B. The
asset classes include:
•
•
•
•
•
•
•
Domestic Equity
International Equity
Fixed Income
Private Equity
Real Assets
Absolute Return Strategies (Hedge Funds)
Cash Equivalents
Investment Policies and Performance Goals for Investment Managers
The following are performance goals and constraint guidelines placed on individual asset
managers within specific asset classes:
All Managers
1. The Consultant shall establish a clearly defined process for reviewing investment
managers. This process should include reviewing any structural changes of the manager
and the manager’s returns compared to their benchmark and to their peers.
2. Trading and Execution: Managers should execute trades on a competitive basis,
considering both commission and market impact, as compared to relative size funds.
Domestic Equity
1. The maximum weighting, on a cost basis, in any one company for active managers is
10% of the portfolio value.
2. The maximum weighting to any particular economic sector should be no greater than
50% more than the appropriate benchmark’s weighting.
3. Trading and Execution: Managers should execute trades on a competitive basis,
considering both commission and market impact, as compared to relative size funds.
Domestic Fixed Income
1. The maximum weighting, on a cost basis, in any one security for active managers is 10%
of the portfolio value. This does not apply to U.S. government and agency issues.
International Equity and Fixed Income
1. The use of currency futures to enhance performance and/or hedge currency exposure by
international and/or global managers is at the discretion of the manager in accordance
with the prospectus of the investment product, provided the hedging in any one currency
Investment Policy Page 12 of 24
3.23
will never exceed the market value of the assets invested in the currency. For separately
managed accounts of the Michigan Tech Fund, the manager must submit to the IF
Committee for approval a detailed description of the currency strategy prior to the
implementation of such a strategy.
Other, Alternative Investments
1. Alternative investment managers typically have significant latitude in the strategies and
investments they make and the leverage they introduce into a portfolio. As a result, it is
generally not feasible to impose guidelines and restrictions on such managers; instead,
the Committee may choose to terminate a manager, subject to the manager’s liquidation
policy, if they are dissatisfied with the manager and/or his strategy.
Other Investment Management Issues
1. Securities Lending: Investment Managers may engage in securities lending, or the “loan”
of the Funds’ securities in return for interest, to broker dealers as a means of enhancing
income.
2. Active vs. Passive Management: The IF Committee shall continue to review the relative
advantages of passive versus active investment management in the context of reduced
management expenses, stable performance and constant, complete exposure to the
particular asset class with regard to the excess return provided by the individual manager.
3. Related Party Transaction: The Funds will not loan funds to related parties, defined as
an officer, IF Committee member, employee, or donor, either current or prospective.
Performance Goals for Investment Consultants
The investment consultants will be reviewed on an annual basis and evaluated upon the
performance of the duties outlined in Delegation of Responsibilities, Consultant, of this
Statement of Investment Policy.
Procedure for Revising Guidelines
All investment policies and performance goals will be reviewed annually or when deemed
necessary by the IF Committee. The Board must approve changes to this policy.
Conflicts of Interest
All persons responsible for investment decisions or who are involved in the management of the
Funds or who are consulting to, or providing any advice whatsoever to the IF Committee shall
disclose in writing at the beginning of any discussion or consideration by the committee, any
relationships, material beneficial ownership, or other material interest(s) which the person has or
may reasonably be expected to have, with respect to any investment issue under consideration.
Investment Policy Page 13 of 24
3.24
The committee may require such persons to remove themselves from the decision-making
process.
Any members of the IF Committee responsible for investment decisions or who are involved in
the management of the Funds shall refuse any remuneration, commission, gift, favor, service or
benefit that might reasonably tend to influence them in the discharge of their duties, except as
disclosed in writing to and agreed upon in writing by the IF Committee. The intent of this
provision is to eliminate conflicts of interest between committee membership and the Michigan
Tech Fund. Failure to disclose any material benefit shall be grounds for immediate removal from
the committee. This provision shall not preclude the payment of ordinary fees and expenses to
the Funds’ custodian(s), Investment Managers, or Consultant in the course of their services on
behalf of the Michigan Tech Fund.
Investment Policy Page 14 of 24
3.25
APPENDIX A
SUMMARY TABLE OF FUND INVESTMENT CRITERIA
Investment
Time
Horizon
25+ Years
Target Return1
Asset Allocation
Target
Fund
Objective
Endowment
High Real
Return and
Long Term
Growth
QuasiEndowment
Liquidity,
Short-Term
Growth
1-5 Years
Benchmark Rate
of return on
target asset
allocation
Demand
Liquidity and
Preservation
of Capital
1 Year
Unrestricted
Liquidity and
Preservation
of Capital
1-5 Years
Gift Annuities
Gift Annuities
25+ Years
Benchmark Rate
of return on
target asset
allocation
Benchmark Rate
of return on
target asset
allocation
Gift annuity rate
plus return to
MTF
Specialized –
Other
Other donor-stipulated guidelines contained in account-specific documents
5% Real +
Admin. Fees and
Growth
1
58% growth assets,
24% risk reduction
assets, and 18%
inflation protection
assets
15% US stocks,15%
international stocks,
40% risk reduction
assets, 30% inflation
protection assets
80%
short/intermediate
fixed
20% cash equivalents
80%
short/intermediate
fixed
20% cash equivalents
65% equities
35% fixed income
Real return is net of the cost of inflation. Inflation, in this case, uses HEPI (Higher Education Price Index), or the
CPI + 0.5%, as a proxy.
Investment Policy Page 15 of 24
3.26
APPENDIX B
COMPARATIVE INDICES FOR INVESTMENT MANAGERS
ASSET CLASS
COMPARATIVE INDEX
Equity
Domestic Equity
U.S. Large Stocks
U.S. Large Value Stocks
U.S. Mid Stocks
U.S. Small Stocks
U.S. Small Value Stocks
International Equity
Int'l Large/Mid Stocks
Int'l Small Stocks
Emerging Mkt Stocks
Fixed Income
Domestic Fixed Income
US Inflation Protected Fixed Income
Global Fixed Income
Alternative Investments
Private Equity
Real Assets
Absolute Return (Hedge Funds)
TARGET R2
INDEX
ACTIVE
S&P 500
S&P/BARRA 500 Value / MSCI
US Prime Market Value
S&P MidCap 400 / MSCI US
MidCap 450
Russell 2000
Russell 2000 Value
99.9
99.9
95.0
95.0
99.9
90.0
99.0
99.0
85.0
85.0
EAFE
S&P/Citigroup EMI-EPAC
MSCI Emerging Markets Free
99.5
99.0
99.0
95.0
85.0
85.0
Lehman Aggregate Bond /
Lehman Gov’t Credit /
Lehman 5-10 Yr Treasury
Citigroup Inflation Linked Bond
Citigroup World Gov’t Bond
99.9
95.0
99.0
95.0
85.0
85.0
-
-
-
-
N/A
Dow Jones Wilshire REIT, DJAIG Commodity, Goldman Sachs
Natural Resources
HFR Fund of Funds
1
Note: This benchmark is not available on a monthly basis. It is available quarterly, four months following the end
of the quarter.
Investment Policy Page 16 of 24
3.27
APPENDIX C
ENDOWMENT FUND OBJECTIVES AND GUIDELINES
Objective: The Objective of the Endowment Fund, as determined by the Board, is to achieve a
total return equivalent to or greater than the Endowment Fund’s financial requirements over the
Time Horizon. The Endowment Fund’s financial requirements are the sum of the Spending
Rate, the long-term inflation rate (as indicated by the Higher Education Price Index), the
aggregate costs of portfolio management, attributable costs of the Michigan Tech Fund’s
administration, and any growth factor which the IF Committee may, from time to time,
recommend to the Board, as appropriate. The IF Committee has recommended a Policy Asset
Allocation designed to achieve a return equal to or greater than the Objective. The excess return
over the Objective is designed both to reduce the probability of missing the Objective over the
time horizon and to provide for growth of the Endowment Fund.
General Investment Considerations:
•
•
•
•
Risk: The IF Committee will seek to limit the overall level of risk consistent with the
chosen Policy Asset Allocation.
Liquidity: Because the vast majority of the Endowment Fund’s assets are marketable,
liquidity can be obtained as needed; therefore, the Endowment Fund does not have an
explicit allocation to cash or cash equivalents.
Time Horizon: The Endowment Fund has an infinite life. An investment Time Horizon
of twenty-five years is appropriate.
Taxes: The Michigan Tech Fund is tax-exempt.
Spending Rate Policy
Sources of Spending
The IF Committee recognizes both the short-term need of the Endowment Fund for annual
income from the investment portfolio, and the long-term need for maintenance and growth of the
Fund’s purchasing power. As a result, the Board may appropriate for expenditure in any year for
the uses and purposes for which the Endowment Fund is established so much of the net
appreciation, realized and unrealized, in the fair market value of the investment portfolio over the
historic dollar value of the investment portfolio as is prudent, but in all events not to exceed the
amount determined under this Spending Rate Policy. This amount shall include any extra
disbursement made by the Board in recognition of market conditions.
Spending Rate
The IF Committee recognizes that a Spending Rate equal to the Endowment Fund’s total returns
each year will doom the Endowment Fund to declining real values, due to the effects of inflation
and costs of investment management. The Spending Rate will be reviewed periodically by the IF
Committee in light of evolving trends with respect to investment returns and the rate of inflation
and recommended for approval by the Board. Adjustments will be made when appropriate.
When considering the investment performance of the Endowment Fund, the IF Committee will
Investment Policy Page 17 of 24
3.28
consider the total returns of the Endowment Fund, including dividends on stock, interest on
fixed-income securities, and capital gains, both realized and unrealized. Original gift principal,
consisting of the sum of all gifts designated to any specific endowment account, shall never be
spent.
Administrative Fees
Administrative fees are defined as fees charged back to the Endowment Fund calculated on the
expected return and principal balance in each of the Funds.
Gift Fee
The MTF will retain the earnings from each new gift for the first twelve months.
Spending Rule
It shall be the policy of the Endowment Fund to distribute to every endowment account an
amount equal to the product of the investment portfolio’s average market value for the trailing
th
twelve quarters ending June 30 , multiplied by the Spending Rate. The amount to be distributed
th
will be calculated as of June 30 and will be communicated to the University. This amount will
not fluctuate throughout the fiscal year.
ENDOWMENT FUND ASSET ALLOCATION POLICY
ASSET CLASS
Growth Assets
US Large Stocks
US Large Growth Stocks
US Large Quality Stocks
POLICY (%)
4
6
10
Total US Stocks
International Large Stocks
International Large Quality Stocks
International Emerging Market Stocks
Total International Stocks
Emerging Market Debt (Local)
Private Equity / Special Situations
20
10
8
5
23
3
10
Total Growth Assets
Risk Reduction Assets
US / Global Fixed Income
Hedge Funds
56
20
10
Total Risk Reduction Assets
Inflation Protection Assets
US Inflation-Protected Fixed
Real Assets
30
5
9
Total Inflation Protection Assets
Total Allocation
14
100%
Investment Policy Page 18 of 24
3.29
APPENDIX D
DEMAND FUND OBJECTIVES AND GUIDELINES
Objective: The Objectives of the Demand Fund are liquidity and preservation of capital.
General Investment Considerations:
•
•
•
•
•
Rise: Because of the relatively short time horizon of the instruments in the Demand
Fund, there is little tolerance for risk of principal.
Liquidity: Because the necessary liquidity to meet the withdrawals from the fund, there
is an explicit allocation to marketable assets.
Time Horizon: The Demand Fund has an investment Time Horizon of one year.
Taxes: The Michigan Tech Fund is tax-exempt.
Administrative Fees: Administrative fees are defined as fees charged back to the
Demand Fund calculated on the expected return and principal balance in the Fund.
DEMAND FUND ASSET ALLOCATION POLICY
ASSET CLASS
POLICY (%)
Short / Intermediated Fixed Income
80%
Cash and Cash Equivalents
Total Allocation
20%
100%
Investment Policy Page 19 of 24
3.30
APPENDIX E
UNRESTRICTED FUND OBJECTIVES AND GUIDELINES
Investment Policy Page 20 of 24
3.31
APPENDIX F
SPECIALIZED FUND OBJECTIVES AND GUIDELINES
Objective: The Objectives of the Specialized Fund are to meet unique donor requests.
General Investment Considerations:
• Risk: The risk considerations are based on the donor stipulations.
• Liquidity: Liquidity needs are based on donor stipulations.
• Time Horizon: The Time Horizon is based on the donor stipulations.
• Taxes: The Michigan Tech Fund is tax-exempt.
Administrative Fees
Administrative fees are based on the donor stipulations.
SPECIALIZED FUND ASSET ALLOCATION POLICY
Account
Gift Annuities
ASSET CLASS
Equities
Fixed Income
Other
These are donor-stipulated
Investment Policy Page 21 of 24
3.32
POLICY (%)
65%
35%
APPENDIX G
GIFT ANNUITY RESERVE FUND OBJECTIVES AND GUIDELINES
Asset Allocation
The asset allocation for the Gift Annuity Reserve Fund can be found below.
GIFT ANNUITY RESERVE FUND ASSET ALLOCATION POLICY
Account
Gift Annuities
Other
ASSET CLASS
POLICY (%)
Equities
65%
Fixed Income
35%
These are donor-stipulated
Investment Policy Page 22 of 24
3.33
APPENDIX H
QUASI-ENDOWMENT FUND OBJECTIVES AND GUIDELINES
Objective: The Objectives of the Quasi-Endowment Fund are to invest funds for specific nonendowed purposes for which the Fund serves as a custodian and manager. Typically, these funds are
larger in nature and have a strategic plane use of one to five years.
General Investment Considerations:
• Risk: The IF Committee will seek to limit the overall level of risk consistent with the chosen
Policy Asset Allocation.
• Liquidity: The investments consist of mutual funds, all of which are very liquid.
• Time Horizon: One to five years.
• Taxes: The Michigan Tech Fund is tax-exempt.
Administrative Fees
Administration fees are defined as fees charged back to the Quasi-Endowment Fund calculated on the
expected return and principal balance in each of the Funds.
QUASI-ENDOWMENT FUND ASSET ALLOCATION POLICY
ASSET CLASS
POLICY (%)
Growth Assets
30%
Risk Reduction Assets
40%
Inflation Protection Assets
30%
Investment Policy Page 23 of 24
3.34
Signatures:
_____________________________________
President
Michigan Tech Fund
____________________________________
Chief Financial Officer
Michigan Tech Fund
This Statement of Investment Policy must be reviewed by the IF Committee at least once a year
and confirmed as appropriate or amended as necessary at that time.
.
Investment Policy Page 24 of 24
3.35
Revised:
Created:
Category:
Subject:
April 2002, February 1999
August 7, 1998
Finance
Real Estate
Policy: The Michigan Tech Fund will establish general policies and procedures for accepting,
receipting, and documenting real estate gifts to Michigan Technological University.
The Michigan Tech Fund seeks gifts of real estate for three purposes:
• to be received and used by Michigan Technological University,
• to be sold with the proceeds funding planned gifts or specific University-related projects,
and
• to be held for investment purposes.
The Fund will not accept any gift of real estate
• without required due diligence.
• with restrictions that limit the disposition of the property.
• valued at less than $10,000.
Real estate is donated to the Michigan Tech Fund by the donor transferring title-granting
ownership of the property to the Michigan Tech Fund. Once the Fund receives the title, it will
begin the procedure to dispose of the property as soon as possible or develop a long-term
marketing/development plan. In a depressed market, the Michigan Tech Fund should not be
obligated to dispose of the property as quickly as possible.
The general procedure for processing a gift of real estate through the Michigan Tech Fund
follows whether the property is (1) titled directly from the donor to the University, or (2) retained
at the Michigan Tech Fund for future sale or investment.
• When a donor expresses the desire to donate real estate, the advancement officer working
with the donor shall immediately notify the Director of Major Gifts, who shall review the
initial terms of the gift with the Chief Financial Officer and the President of the Michigan
Tech Fund to determine the viability of moving forward.
• All gifts of property shall be referred to the Investment and Finance Committee.
• If the real estate is to be titled directly from the donor to the University, the appropriate
department head and dean of the academic area that will benefit from the gift, as well as
the Provost, shall be notified to determine if the area designated to benefit from the gift
can use the real estate for the appropriate research and/or teaching purposes.
• The donor shall provide (1) an independent, certified appraisal on all gifts of real estate,
and (2) a title search verifying that the donor has a marketable title to the property. The
Michigan Tech Fund shall obtain a second independent, certified appraisal. These
appraisals, in conjunction with a market analysis, shall be used by the Michigan Tech
Fund for determining the final valuation of the gift as an asset.
• The Fund’s independent accounting firm and/or legal counsel may be consulted regarding
the valuation of the gift for the Fund’s financial statements.
• All costs shall be deducted from the proceeds to the designated department.
• In the case of property titled directly from the donor to the University, the MTU
3.36
Treasurer/Chief Financial Officer shall be responsible for submitting the request for real
estate acceptance to the MTU Board of Control.
Formal Acceptance Procedure
•
•
•
•
The initial assessment of acceptance of a gift begins with the Investment and Finance
Committee. Final acceptance authority will be based on the value of property being donated
to the Michigan Tech Fund.
The Investment and Finance Committee reviews and may accept property valued up to
$100,000.
The Investment and Finance Committee reviews and may accept property valued greater
than $100,000 up to and including $1,000,000.
The full Board of Directors reviews and may accept property valued greater than
$1,000,000.
The MTU Board of Control shall be notified in writing of the acceptance of all gifts of real estate
to the Michigan Tech Fund. In the situations specified below, the MTU Board of Control will be
notified prior to Michigan Tech Fund acceptance of real estate gifts:
• if the real estate is to be titled directly from the donor to Michigan Technological
University.
• if the real estate’s appraised value exceeds $1 million.
• if there are environmental concerns or questions not satisfied by a Phase Two
Environmental Assessment.
Considerations in Accepting Real Estate Gifts
The Fund must carefully consider if it has the desire and ability to manage the property, or to
consult/hire a property manager to market the property, for whatever length of time necessary to
complete the sale.
Acceptance of property may be considered under the following conditions:
•
•
•
Outright gift
Bargain sale – A gift of property is considered to be a bargain sale if an organization
purchases property from the taxpayer for less than the property’s fair market value.
Funding a deferred payment gift annuity based at 60% of the appraisal value
A gift that bears costs to the Fund until it is sold may not be worth accepting. Frequently, the
donor may be persuaded to make whatever payments are necessary until the property is sold or
leased for a given period of time.
Marketing and Disposing of Property
“Sell as soon as possible,” at fair market value, should be the general rule.
The Fund should consider its investment objectives before deciding whether the “sell as soon as
possible” rule should be implemented.
3.37
Conveyance of all property shall be made by Warranty Deed, Personal Representative Deed,
Quit Claim Deed, or Trustee Deed.
Environmental Issues
The Michigan Tech Fund, exercising due diligence, will not accept any real estate without an
environmental assessment study completed by a third-party environmental specialist, and any
other environmental study as may be required in that local area. The Michigan Tech Fund shall
be responsible for obtaining the environmental study. The initial screening process will consider
all risks of accepting land.
In Michigan, there are three types of initial first-step environmental studies and a follow-up
study, should there be problems.
•
Transaction Screening Process (current is ASTM Standard E 1528-96). Recommended
use would include vacant land or a house. Not for commercial or industrial properties.
• Used to determine if there is any reason to be suspicious of a problem.
• If no suspicion, no further work is required.
• If suspicious, Phase Two is required.
•
Phase One (current is ASTM Standard E 1528-96). Recommended for commercial and
industrial properties.
• Used to determine if there is any reason to be suspicious of a problem.
• If no suspicion, no further work is required.
• If suspicious, Phase Two is required.
•
Phase Two. If suspicious of possible problems.
• Used to determine if suspicion really is a problem.
• If no problem, no further work is required.
• If problem, have option to do a baseline environmental assessment (BEA) to establish
level of contamination baseline to be able to establish at a later date if the new owner
contributed to any additional contamination. A BEA might not be available in all
states.
•
Baseline Environmental Assessment (BEA) Study.
Should a Transaction Screening or Phase One raise a question, the cost associated with a Phase
Two must be determined and weighed against the benefits.
Should a Phase Two find a potential problem, the cost associated with having a BEA study done
could be significant. The residual risk could still be large. This pathway should be extremely
rare if not nonexistent. There would have to be overriding circumstances under which the Tech
Fund would pay for a BEA and accept a property that required a BEA.
The University would have to approve in writing the overriding circumstances necessary to
pay for a BEA study and for the Fund to accept such a property.
3.38
The Fund should not operate or hold for any period of time any property where a BEA is
necessary.
There is no determinable “down side” cost of:
• Monitoring a BEA property, or
• An environmental clean up; therefore, do not get involved.
Transaction Screening, Phase One, or Phase Two will be chosen in consultation with the chosen
professional environmental firm to achieve the required objective of protecting the Fund from
any liability.
Any environmental firm that the Fund hires should have “errors and omissions” insurance. What
level is acceptable or adequate is the judgment of the Fund’s Director of Finance. It does,
however, give some indication, by an insurance company, of a firm’s experience and financial
standing.
Revenue-Generating Real Estate Gifts
In the case where the real estate is revenue generating (apartments, duplexes, houses, office
buildings, warehouses, etc.), the following additional information is required:
•
•
•
•
Copies of the last three years’ income tax Schedule E on the subject property.
Copies of current lease agreements.
Copies of property tax receipts.
Any other financial information that might be helpful in evaluating this property
including a business plan, cash flow statement, profit and loss statement, and a balance
sheet.
3.39
REAL ESTATE ANALYSIS GUIDELINES
Inform the donor that he will need to provide the Fund with a qualified appraisal at his cost. The
Fund will obtain a second independent, certified appraisal.
•
Inform the donor he or she must have a title search performed.
•
Obtain a complete legal description or a copy of the donor’s warranty deed. If a copy of the
deed is not available, try to determine the date of ownership by the donor, and obtain other
related materials such as a survey, title insurance, abstract, easements, or zoning restrictions.
•
Determine if there are any leases affecting the property such as farming, hunting, minerals, or
rental agreements, and if so, obtain a copy of the lease or leases.
•
Assume that all rights (including mineral rights, metallic or non-metallic) are being
conveyed. If not, be sure to note the condition and status.
•
Examine the tax status of the property.
•
Are there any deferred taxes?
•
Have the previous years’ taxes been paid?
•
Are the current year’s taxes to be paid by the donor, or prorated or assumed by the Fund?
•
Request copy of tax receipts from all taxing authorities.
3.40
REAL ESTATE GIFT ACCEPTANCE PROCESS
Donor
MTF
AO
X
X
Legal
Counsel
Action
Other
Development Officer evaluates the suitability of the proposed gift.
Notifies and reviews with: Chief Financial Officer and Director of
Operations of the Michigan Tech Fund.
X
Chief Financial Officer reviews proposal with President of the Michigan
Tech Fund.
X
Notify Real Estate Subcommittee. Subcommittee will conduct initial
review for acceptance.
X
If the real estate is to be transferred to MTU, notify the department head
and dean of the area that will benefit, and the provost.
X
In the following cases, the Board of Control is notified prior to
acceptance:
•
If the title to the real estate is to be transferred to MTU.
•
If the real estate appraised value exceeds $1 million.
•
If there are environmental concerns or questions not satisfied by
a Phase Two Environmental Assessment.
X
Obtain an appraisal (donor’s cost) from certified appraiser agreed to by
donor and MTF.
X
Obtain second appraisal if the Real Estate Subcommittee is dissatisfied
with the first.
X
X
X
X
X
MTU Treasurer/Chief Financial Officer submits request for acceptance to
MTU Board of Control.
X
Consult with external accounting firm or legal counsel as to valuation of
the gift. (Optional)
X
Acceptance:
•
Real Estate Subcommittee may accept property valued up to and
including $100,000.
•
Investment and Finance Committee may accept property valued
over $100,000 up to and including $1,000,000.
•
The full Board of Directors may accept property valued greater
than $1,000,000.
X
Deed is prepared.
If gift is commercial real estate, collect additional information per
Appendix.
X
X
Title is legally transferred by executing and recording deed.
X
X
X
X
Transfer taxes are paid (when property is not 100% gift).
X
Send receipt to donor. MTF is required to sign donor’s completed 8283
due with donor’s Form 1040.
X
Send informational Form 8282 to IRS and a copy to the donor if the
property is sold within two years.
X
Contact Fund insurance agent; add property to commercial package.
_____________________________________________
Signature, Michigan Tech Fund employee
____________________________________
Date checklist completed
Date:
May 22, 2000
Category: Finance
Subject: Accounting Principles and Practices
Policy: It is the policy of the Michigan Tech Fund to adhere to generally accepted accounting
principles (GAAP).
Purpose: The purpose of this policy is to identify significant accounting policies and procedures
used by the Michigan Tech Fund.
Significant Accounting Policies
The Michigan Tech Fund is a not-for-profit corporation established to receive and maintain
funds to use or apply the whole or any part of the income therefrom or the principal thereof
exclusively to promote the best interests, purposes, and objectives of Michigan Technological
University. The Fund is organized under the provisions of the Michigan Non-Profit Corporation
Act (Act 162, PA of 1982), as amended. The Fund has been recognized as tax-exempt under
Section 501(c)(3) of the Internal Revenue Code.
The Fund’s financial statements are prepared in conformity with generally accepted accounting
principles. This requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses during the reporting
period. Actual results could differ from those estimates.
The net assets and revenues, expenses, gains, and losses are classified based on the existence or
absence of donor-imposed restrictions. Accordingly, the net assets of the Fund have been
grouped into the following three classes:
Unrestricted net assets: Generally result from revenues derived from providing services,
receiving unrestricted contributions, unrealized and realized gains and losses, and dividends and
interest from investing in income-producing assets, less the expenses incurred in providing
services, raising contributions, and performing administrative functions.
Temporarily restricted net assets: Generally result from contributions including unrealized and
realized gains and losses, and dividends and interest, and other inflows of assets which are held
for specific purposes as stipulated by the donor. Temporarily restricted assets are released from
restrictions by the passage of time or by actions of the Fund, pursuant to the donors’ stipulations.
Permanently restricted net assets: Generally result from contributions including unrealized and
realized gains and losses, and dividends and interest, and other inflows of assets which represent
permanent endowments where use is limited by donor-imposed stipulations that neither expire
by the passage of time nor can be fulfilled or otherwise removed by the Fund.
Revenues are reported as increases in unrestricted net assets unless use of the related assets is
limited by donor-imposed restrictions. Expenses are reported as decreases in unrestricted net
3.42
assets. Gains and losses on investments and other assets or liabilities are reported as increases or
decreases in unrestricted net assets unless their use is restricted by explicit donor stipulation or
by law. Expirations of temporary restrictions on net assets (e.g., the donor-stipulated purpose
has been fulfilled and/or the stipulated time period has elapsed) are reported as reclassifications
between the applicable classes of net assets.
a. Cash and Cash Equivalents: Cash and cash equivalents include cash deposits, time
deposits, certificates of deposit, money market funds, and highly liquid debt instruments with
original maturities of three months or less.
b. Investments: The Fund reports investments at fair value and realized and unrealized gains
and losses are reflected in the statement of activities. Gifts of investments are recorded at their
fair value based on the mean of the high and low quoted priced of stock transactions at the date
of the gift. Except for investments which are not readily marketable or where donors specifically
provide otherwise, investments are maintained by a custodial institution responsible for
consummating investment transactions at the request of the Fund to facilitate cash flow
requirements. Nonmarketable investments are maintained at the Fund until the donor specifies
otherwise. The Fund employs a total asset allocation investment policy and uses the services of
an investment consulting firm to facilitate the implementation of this policy. Asset allocations
are reviewed monthly and balanced quarterly, when necessary. The Investment and Finance
Committee of the Board of Directors of the Fund monitors investment activity and makes decisions
concerning any changes in investments or asset allocation adjustments. The Fund allocates and credits
investment earnings each month to departmental funds, including realized and unrealized gains
and losses, on permanently restricted, temporarily restricted, and unrestricted assets based on an
average of each fund’s beginning and ending monthly balances.
c. Split-Interest Agreements: Life income trusts, pooled income funds, unitrusts, and certain
other investments are maintained by a separate trust company. Trustee functions include
management of the investments, distributions to donors, complying with tax filing requirements
and providing periodic statements of activity to the Fund. Four additional trust accounts are
managed by institutions at the request of the donors.
d. Fixed Assets: The fixed assets of the Fund consist of office equipment, computers, software,
and furniture. Fixed assets are recorded at cost at the date of acquisition and are depreciated on a
straight-line basis over estimated useful lives of three to seven years. Capitalized leases are
amortized over the estimated useful life of the asset or the lease term, as appropriate, using a
straight-line method. At the time of disposal, fixed assets are removed from the records and any
gain or loss is recognized in the statement of activities.
e. Gifts-in-Kind: Land, buildings, equipment, software, intellectual properties, contributed
services, and art properties are stated at estimated fair value at the date of the gift based upon
appraised values. The responsibility for having an appraisal completed for the gifted property
rests with the donor. In most cases the Fund serves as an agent for the receipt of property and
equipment and immediately transfers these gifts to the University. The Fund has a policy to
immediately list for sale any gifts-in-kind received and not subject to immediate transfer to the
University.
3.43
f. Contributions: Unconditional contributions received and pledges receivable are recognized
at their fair values as revenues in the periods received. Fair value is estimated based on the
present value of the estimated future cash flows. Contributions received and designated by the
donor for the benefit of the University are not assets of the Fund. These are recorded as assets
held on behalf of the University. Refer to the Gift Valuation Policy for valuation of conditional
contributions. The Fund acts as an agent/intermediary for the University, and accordingly, the
University is considered to have received contributions when the agent has received the
contribution or an unconditional promise to give contributions.
g. Administrative and Investment Management Fees: The Fund receives an administrative
fee from the various departmental funds for acting as agent/intermediary for assets processed and
maintained by the Fund. This fee is based upon an amount determined by calculating budgeted
operating costs of the Fund and serves to reduce the total investment return for the account. This
yield adjustment is allocated monthly among all accounts based on the aggregate yield of all
accounts.
3.44
Date:
May 22, 2000
Category: Finance
Subject: Budget Process
Policy: It is the policy of the Michigan Tech Fund to have an annual budget. The Fund
Operating Budget is a statement of proposed expenditures and sources of financing. Approval
by the Michigan Tech Fund Board of Directors is authorization to incur the expenditures and to
collect and apply the revenue.
The budgeting process provides management with a means for assignment of responsibility and
the measurement of results. Periodic reports are made to the Fund Board of Directors. The
budget can be increased upon approval of the Fund Board of Directors.
Purpose: The purpose of this policy is to establish guidelines for the development and approval
of the annual budget for the Operating Fund.
Development: The Chief Financial Officer and Director of Operations determines budget format
(organization centers) and designates management staff members responsible for each area.
Organization center managers provide annual projections of operating expenses to the Chief
Financial Officer and Director of Operations, monitor and approve expenditures, and account for
budgetary variances.
Preparation: Planning documents are distributed to organization center managers and projections
are discussed and compiled by the Chief Financial Officer and Director of Operations.
The President of the Michigan Tech Fund approves the proposed budget, and it is then submitted
to the Audit Committee, which recommends it to the Tech Fund Board of Directors for final
approval.
The approved budget is input into the computer system for reporting purposes.
Reports: Monthly budget versus actual expenditure reports are distributed to organization center
managers.
Organization center managers provide explanations to the Chief Financial Officer on a monthly
basis when a line item variance exceeds 10%.
Amendments: Amendments to the budget require approval by the Board of Directors.
3.45
Date:
May 22, 2000
Category: Finance
Subject: Capitalization, Valuation, and Depreciation of Assets
Policy: It is the policy of the Michigan Tech Fund to capitalize and depreciate all fixed assets
based on the historical cost and useful life of the asset.
Purpose: The purpose of this policy is to establish guidelines for the capitalization, valuation,
and depreciation of all fixed assets for the Fund.
Procedure:
Purchase of Fixed Assets: Fixed assets are approved in the budgeting process and purchased by
charging them on the Michigan Tech Fund credit card of the Chief Financial Officer and Director
of Operations. Copies of receipts of all fixed asset purchases are used for valuation of the asset
for depreciation purposes.
Capitalization: Fixed assets are capitalized and accounted for on the Balance Sheet of the
Michigan Tech Fund.
Depreciation: All fixed assets are depreciated using the straight line method of depreciation (in
the month following capitalization) in accordance with generally accepted accounting principles
(GAAP):
Computer equipment
Other equipment
Furniture and fixtures
Three years
Five years
Seven years
Contributed assets are valued at the Fair Value of the asset at the time of contribution.
3.46
Revised:
Created:
Category:
Subject:
October 12, 2006, January 20, 2006, April 16, 2005, March 28, 2004
May 22, 2000
Finance
Gift Pledges Establishment, Collection, Enforcement, and Write Off
Policy: It is the policy of the Michigan Tech Fund to establish pledges in accordance with
applicable laws and regulations; execute appropriate pledge agreements; aggressively pursue
collecting the pledge; and write off pledges that will not be collected.
Purpose: The purpose of this policy is to establish uniform procedures for pledge establishment,
collection of pledges, and write off of uncollectible pledges.
Establishment
All pledges must be documented before they are considered a pledge. The preferred method is
the formal pledge card used by the Tech Fund. However, an initial pledge can be in the form of
a letter, email, or gift agreement from the donor. To be considered a pledge, the documentation
must indicate date of the pledge, amount, form of payment (cash, stock, etc.), time period of the
pledge (one, two, five years, etc.), the designation at the time of the pledge, if determined, and
the signature of the donor.
The prospect manager, soliciting pledges for a new initiative, will obtain written direction from
the donor regarding any prior established pledges. The written direction should state the donor’s
intent regarding fulfillment of the established pledge. Telefund pledges are not included in this
process.
The Tech Fund’s finance staff will be responsible for maintaining all information with respect to
each pledge, in a safe and secure location.
Collection
Regular pledges that are over $1,000 are sent pledge acknowledgment letters indicating the
designation, amount, and term of the pledge, and the month that reminder letters will be sent.
Reminder letters are promptly sent as Telefund pledge payments become due and for other
pledges at the donor’s request. Telefund pledges are sent a pledge letter by the Telefund
Director at the time the pledge is made.
Monthly, a pledge report is created:
•
•
For Telefund pledges–the report indicates past-due amounts.
For all other pledges–the report indicates the installments due in the following month.
Letters are then sent to the donors:
•
•
Telefund pledge reminder letters are sent monthly.
All other pledge reminder letters are sent according to the terms of the pledge, which may
be monthly, but usually annually, on all other outstanding pledges.
3.47
Annually, a copy of delinquent pledges will be given to the appropriate Major Gifts Officer who
will contact the donor. Copies of all delinquent pledges over $10,000 will be given to the
President of the Michigan Tech Fund for review.
At fiscal year end, Information Services staff prepare reports of pledges past due for twelve
months or more, which are then addressed as to collection or write off. A finance staff member
researches the regular pledges on these reports, and if a moves manager has been assigned to the
donor, he/she will be notified and given the details of the pledge and the outstanding amount.
The moves manager will contact the donor and give a written update to the Michigan Tech Fund
finance staff member.
Enforcement
Enforcement of a pledge may be pursued when fraud has been committed or when Michigan
Tech has committed and expended funds to a project based on the pledge.
When enforcement of a pledge is being considered, careful consideration should be given to the
following:
•
•
•
Whether the donor has expressed a desire to revoke entirely his/her pledge.
If it is prudent to file litigation against a donor who has expressed his/her intent to
continue support of Michigan Tech and the Michigan Tech Fund.
Whether potentially negative public relations have an impact on other donors and
prospective donors.
Write Off
Delinquent annual pledges: Uncollected annual pledges are written off two months after the end
of the fiscal year. A reserve account is established at the end of the fiscal year recognizing the
potential amount to be uncollected.
Delinquent long-term pledges (defined as pledges of two- to five-year durations) for which no
payment has been received for two years will be reviewed by management to determine the need
for a write off, using the chart below, and a determination made regarding their write off. A
reserve account is established at the end of the fiscal year recognizing the potential amount to be
uncollected.
Amount
Reviewed and Approved By
Pledges up to $25,000
Michigan Tech Fund Management
Pledges $25,000 up to $50,000
Audit Committee
Pledges $50,000 up to $100,000
Investment and Finance Committee
Pledges of $100,000 and above
Executive Committee
3.48
Date:
May 22, 2000
Category: Finance
Subject: Principle Financial Reports
Policy: It is the policy of the Michigan Tech Fund to produce and distribute monthly, quarterly,
and annual financial statements.
Purpose: The purpose of this policy is to establish the type and frequency of distribution of the
principle financial reports for the Michigan Tech Fund.
Procedure:
Types of reports: Management shall prepare the following reports on a monthly basis:
•
Statements of Operation (Budget to Actual) for the Operating Fund.
This report shall be distributed to the President of the Michigan Tech Fund, and to the Audit
Committee and the Treasurer of the Board of Directors.
•
•
•
•
•
Detail reports of giving to department by alumni and other donors.
Detail reports of giving to other designations by alumni.
Summary of giving reports to departments by alumni and other donors.
Summary of giving reports to other designations by alumni.
Summary and detail Demand Fund reports.
These reports shall be distributed to the Vice President for Advancement, and to the Deans
and Department Heads.
Management shall prepare the following reports on a quarterly basis:
•
•
•
Statement of Operations (Budget to Actual) for the Operating Fund
Statement of Financial Position
Statement of Operations for the entire Fund
Annually, the Michigan Tech Fund books shall be audited by an independent accounting firm.
Management shall prepare the following reports:
•
•
•
•
•
Statement of Financial Position
Statement of Activities
Statement of Cash Flows
Statement of Functional Expenses
Notes to the Financial Statements
These reports shall be distributed to the President of the Michigan Tech Fund, and to the Fund
Board of Directors.
3.49
Date:
March 30, 2001
Category: Finance
Subject: Petty Cash
Policy: It is the policy of the Michigan Tech Fund that funds will be provided to certain
personnel to make change or to pay expenses that are impractical to make through the normal
disbursement process or that must be paid in cash. Such funds shall be provided through and
maintained in a petty cash account.
Purpose: The purpose of this policy is to establish the process of creation and maintenance of a
petty cash account.
Guidelines: A custodian shall maintain sufficient documentation to allow the determination of
the nature and amount of the expenditure, the department or cost center and budget line-item to
which it should be charged, and its validity. Measures shall be taken by the individual
responsible for such funds in order to ensure their security.
Procedure: A petty cash account may be established by the authorization of the Chief Financial
Officer of the Michigan Tech Fund. The account may be in the form of currency.
A petty cash voucher (Form F27.0) shall be completed for every expenditure of petty cash. Any
supporting documentation, such as sales slips, invoices, and cash register tapes, must be attached
to the petty cash voucher to which it pertains. If no documentation is available, such as for
postage, a vendor signature should be obtained for the petty cash voucher.
Petty cash funds may NOT be used for the following:
• Items/receipts in excess of $200.00.
• Cashing of personal checks or providing personal loans.
• Purchases that are required to be reported in a specific manner such as, but not limited to,
personnel services and travel expenses.
• Payment for professional services of any kind.
• Purchase of items that are prohibited under petty cash procedures:
• Advertising for employment
• Controlled substances
• Leases
• Maintenance agreements
• Michigan Tech Fund letterhead, business cards, and envelopes
• Seminars and memberships
When the fund is sufficiently depleted, a petty cash reconciliation worksheet (Form F28.0 )
should be completed and signed by the custodian and submitted to the Director of Finance
together with all unreimbursed petty cash vouchers and any available documentation, sales slips,
cash register tapes, etc. Between the time the invoices are submitted for reimbursement and the
time the reimbursement check is received by the custodian, a copy of the petty cash
reconciliation worksheet should be kept with the remaining funds to verify the balance of the
fund for audit purposes. The custodian is responsible for the proper safeguarding of petty cash
3.50
monies. At all times, all currency and unreplenished receipts shall be kept together in a locked
drawer or cabinet to which only the current custodian has the key.
Petty cash is limited to $300.00.
Petty cash will be audited once yearly. Upon audit, both the custodian and the auditor should be
present during the entire time that the auditor is counting and verifying the fund.
3.51
Date:
October 13, 2001
Category: Finance
Subject: Michigan Tech Fund Purchasing Card (Form F31.0 – Credit Card Purchase/Service
Request)
Policy: It is the policy of the Michigan Tech Fund that reasonable and appropriate expenditures
for the day-to-day operation of the Michigan Tech Fund have a means of procurement and
payment.
Purpose: The purpose of this policy is to establish a mechanism for ordering equipment or
securing services on behalf of the Michigan Tech Fund and to provide a means of payment or
reimbursement.
Procedure: The purchasing card was secured to provide staff with an accepted method of
securing certain items for use by the Michigan Tech Fund. Permissible items include:
C Equipment
C Supplies
C Hotel rooms, food, beverages, and transportation for events
C Computers/equipment/software
C Internet hook-up
C Online research resources
Making purchases with the purchasing card requires the following:
C Fill out a Credit Card Purchase/Service Request Form (Form F31.0 – Credit Card
Purchase/Service Request), obtaining supervisor permission.
C Place the order, via telephone, fax, Internet, or in person.
C Present the credit card if it’s an in-person purchase, or give credit card number and
expiration date if telephone, Internet, or fax order/purchase.
C Give receipt and form to the Finance Assistant.
C Give correct shipping and delivery address, which is Michigan Tech Fund, Attn:
(requester’s name), 1400 Townsend Drive, Houghton, MI 49931-1295.
Direct Bill
Employees will have vendor or service provider direct bill where possible.
Accountability and Bill Payment
The Michigan Tech Fund, upon receiving the monthly billing statement, will reconcile items to
ensure that amounts charged on the original invoices, sales slips, or receipts match the monthly
statement. The original invoices, sales slips, or receipts, which are usually given to the buyer,
arrive with the shipment, or are mailed to the shipping address, must include a descriptive
itemization listing items purchased, quantities, prices, and vendors’ names. Monthly charges
will automatically be paid by Accounts Payable and charged to the appropriate Tech Fund
account. An internal audit will be conducted periodically to audit the charges and will review
monthly summaries.
Personal Purchases
The cardholder may not make personal purchases on the card and then reimburse the Michigan
Tech Fund.
3.52
Revised:
Created:
Category:
Subject:
May 6, 2010, October 11, 2003
October 13, 2001
Planned Giving
Gift Annuities
Policy: It is the policy of the Michigan Tech Fund (MTF) to solicit the transfers of cash,
securities, or real estate in exchange for a gift annuity.
Purpose: The purpose of this policy is to establish general guidelines for accepting and
administering annuity gifts.
1. MTF will accept current gift annuities, which begin payments within one year of the gift
date, as well as deferred payment gift annuities, whose initial payment is at least one year
after the gift date. The deferral period will be at the discretion of the donor.
2. MTF will accept annuity gifts for one life, two lives in succession, or joint and survivor
annuity agreements. Gift annuity agreements will be limited to one life or two lives in being
at the time of the gift.
3. MTF gift assets will be limited to cash, securities for which a ready market exists (unlisted
stock will not be accepted), and real estate that will be accepted and managed in accordance
with the provisions of MTF’s Real Estate Policy. With respect to the acceptance of real
estate that will be used to fund a gift annuity, the following additional factors will be taken
into consideration to properly quantify the risks involved with the need to sell the property in
a timely manner in order to support the required annuity payments:
•
•
•
•
•
An appropriate selling discount to represent market risk.
Estimated selling expenses which shall include the real estate commission, title report,
title insurance, attorney fees, real estate transfer fees, environmental inspection, property
inspection, and other closing costs normally associated with the transfer of the deed.
Estimated carrying expenses of owning the property prior to the sale which shall include
property taxes, insurance, maintenance, management fees, assessments, promotional and
selling expenses, and other costs normally associated with owning land or buildings.
Generally limiting the acceptance of real estate to deferred payment gift annuities unless
there are special circumstances, such as the annuitant’s age, that should be considered in
allowing a current gift annuity to be funded by real estate.
Whether the real estate is subject to a mortgage that will trigger debt-financed income to
MTF under IRC Section 514 (i.e., taxable income).
The selling discount and other factors listed above will be established for each real estate gift
annuity by the Director of Major Gifts and Gift Planning along with any one of the officers
named in paragraph 9 of this policy.
4. The gift annuity will be effective on the postmark date of the envelope that brings it to MTF,
or the date it is given to MTF’s representative, or the date the securities are received into an
MTF account.
3.53
5. The minimum acceptable gift to establish a gift annuity is $10,000.
6. The minimum age of an annuitant on the date the payments start is 60.
7. MTF’s maximum annuity rates offered will be the current Uniform Gift Annuity rates and in
the case of deferred payment gift annuities, the current Uniform Interest Factors, both
adopted by the American Council on Gift Annuities, 233 McCrea Street, Suite 400,
Indianapolis, Indiana 46225. MTF may establish a maximum annuity rate that is lower, but
never higher, than the Uniform Gift Annuity Rates of the American Council on Gift
Annuities. To conform to the federally mandated “Clay-Brown Rule,” the annuity rate
offered will generate a charitable deduction of more than 10 percent of the fair market value
of the assets given, or the annuity rate will be reduced to qualify for the deduction. (MTF
realizes that the monthly changing Applicable Federal Rate [AFR] affects the calculated
deduction.)
8. To conform to various state laws, MTF will always offer the maximum annuity rate to each
potential donor/annuitant, based on the actuarial age of the annuitants, but MTF may suggest
that if the person is willing to accept a lower rate, a larger charitable deduction would be
obtained for the same size gift.
9. All gift annuity agreements will be approved and signed by any one of the following officers:
President of the Michigan Tech Fund, or any successor position(s), or the Chief Financial
Officer and Director of Operations.
10. A methodology (e.g., gift annuity administration software) has been established and will be
maintained to identify the changing market value of each agreement, so that an appropriate
amount may be withdrawn from the gift annuity fund at the termination of the agreement,
and distributed to the designated department or area of Michigan Technological University.
11. MTF will maintain separate investment and administrative records of its gift annuity fund
and program. To conform to various state laws, MTF will operate a segregated gift annuity
fund, in which identifiably separate investments will be maintained and which is not part of
any other investment or endowment fund of MTF. The full annuity gift will be admitted to
the gift annuity fund of MTF and will be maintained until the demise of the last annuitant in
the agreement.
12. MTF will make an effort to be aware of the investment and reporting requirements of its own
state of domicile as well as those states that have statutes regulating gift annuity funds, and
will be guided by input from its own legal counsel and staff as to the necessity of filing for a
permit to write annuity agreements in those states.
13. While MTF will cooperate with the donor and the donor’s advisors, it will be the donor’s
responsibility to consult with his or her independent advisors regarding the tax and legal
consequences of the gift annuity.
14. Annuities may be paid quarterly, semiannually, or annually, and in the case of annuity gifts
of $50,000 and more, monthly, if requested by the donor. Annuity payment amounts will be
3.54
rounded upward to the next penny to ensure that each payment will be exactly the same
amount. MTF will never round downward to ensure same payment amounts. Annuity
payments will be transferred by the Automated Clearing House electronically or mailed in
time to arrive on the payment due date.
15. MTF will maintain a membership with the American Council on Gift Annuities to be kept
aware of changes in rulings, and regulatory and administrative issues, connected with
administering a gift annuity fund and program.
16. If required in order to conform to various state insurance laws, MTF will reinsure any
annuity agreement at the minimum (or above, with Board of Directors’ approval) Required
Legal Reserve amount with an “A” rated commercial insurance company registered to do
business in MTF’s state of domicile. The cost of such reinsurance will be paid by MTF.
MTF will be aware that New York State permits reinsurance only through a “treaty”
(negotiated) agreement with a registered insurance company. If the insurance company fails,
MTF realizes that it is liable for the payments.
17. MTF will maintain a separate Automated Clearing House module for its gift annuity fund, so
that appropriate fund records can be maintained to permit appropriate reporting of gift
annuity fund activity to those states that require it by statute, should MTF later obtain a
permit in any state that requires it.
3.55
Date:
April 6, 2002
Category: Finance
Subject: University Payment Requests to the Michigan Tech Fund
Policy: It is the policy of the Michigan Tech Fund to disburse funds to the University for
individual services, employee awards, and scholarship and award payments to students.
Purpose: The purpose of this policy is to establish uniform procedures for disbursing Michigan
Tech Fund monies to the University.
Procedure: It is necessary to maintain complete and accurate records and proper internal
controls for disbursement of funds.
The Michigan Tech Fund will retain documentation relating the intent of the donor for the life of
the gift. While documentation resides at the Tech Fund, a copy of that documentation may be
requested and retained by the on-campus department recipient of those funds, if they choose. If
no documentation currently exists on the intent of the gift or donation, it should be requested
from the donor and retained by the Tech Fund. The MTF will retain this documentation for the
life of the gift or donation.
In order to comply with employment laws, IRS rules, NCAA rules on student athletes, and
federal financial aid requirements, the University must maintain complete and accurate records
of certain payments to individuals. Fund custodians shall request funds from the Michigan Tech
Fund to be transferred to the University, and the University shall make and confirm the ultimate
distribution to the appropriate recipient of the funds. This procedure applies to all payments to
individuals for services, payments for employee awards, and scholarship and award payments to
students.
Payments for the above services, awards, and financial aid will not be disbursed directly from
the Michigan Tech Fund.
Cross reference: Cash Disbursements
3.56
Date:
Category:
Subject:
January 20, 2006
Finance
Credit Card
Policy: It is the policy of the Michigan Tech Fund that employees whose positions require
frequent travel and/or entertainment be assisted in acquiring a credit card.
Purpose: The purpose of this policy is to establish a guideline for obtaining and using the
Michigan Tech Fund credit card use and reimbursement.
All staff and the management team who travel or host functions on behalf of the Michigan
Tech Fund are eligible to apply for the corporate credit card. This card is intended
primarily for Michigan Tech Fund business, but may also be used for personal expenditures.
The credit card company is solely responsible for credit approval and issuance of the card.
Nonpayment of charges may result in revocation of card privileges. Once a card has been
revoked for late/nonpayment, the employee will be unable to continue to participate in the
program. Late payment fees are the responsibility of the cardholder.
Card privileges will be withdrawn upon termination of employment with the Michigan Tech
Fund. The employee must return the card to the Tech Fund finance department before the last
day of work.
To enroll an employee, the receptionist will:
1. Prepare a letter for the Chief Financial Officer’s signature, verifying the applicant’s
employment with the Michigan Tech Fund.
2. Complete the application and forward the letter and application to the credit card
company for review and approval. The card should be received in about four weeks.
As a holder of a corporate credit card, the employee will do the following:
1. Charge Tech Fund-related travel and entertainment expenses (meals, lodging,
transportation, etc.) on the corporate card.
2. File for reimbursement of Tech Fund-related travel and entertainment expenses on the
travel and entertainment expense vouchers.
3. Receive a monthly bill from the credit card company.
4. Promptly pay all charges directly to the credit card company.
Note: Any discrepancies on the credit card billing should be resolved by the cardholder.
3.57
Date:
January 20, 2006
Category: Finance
Subject: Complaint Procedures for Financial, Accounting, and Audit Matters
Policy: The Michigan Tech Fund is committed to fair, accurate, and transparent accounting of
financial matters of the Tech Fund and expects all employees, officers, directors, and volunteers
to act in accordance with the highest ethical standards in the performance of their responsibilities
for the Tech Fund.
Purpose: The purpose of this policy is to provide a complaint procedure for reporting financial,
accounting, and audit matters.
Any employee who has complaints or concerns about
• the Tech Fund’s accounting
• internal accounting
• financial controls
• auditing matters
• questionable financial practices
should report such concerns to his/her supervisor or manager. If for any reason an employee
finds it difficult to report concerns to a manager or supervisor, the employee can report it directly
to the Human Resources Coordinator, the Chief Financial Officer, the President of the Michigan
Tech Fund, the Chair of the Audit Committee, or the President of the Board of Directors.
In order to facilitate a complete investigation, employees should be prepared to provide as many
details as possible, including a description of the questionable practice or behavior, the names of
any persons involved, the names of possible witnesses, dates, times, places, and any other
available details. The Tech Fund encourages all employees with complaints or concerns to come
forward with information and prohibits retaliation against employees raising concerns.
Nonetheless, if an employee feels more comfortable doing so, reports may be made
anonymously in the manner described above.
Investigation and Response:
The Audit Committee will oversee the receipt and handling of allegations of
questionable financial practices or accounting or auditing matters, including directing an
appropriate investigation and response. Based on its investigation, the Committee will
recommend that the Tech Fund take prompt and appropriate corrective action in response to
the complaint or concern if necessary to ensure compliance with legal and ethical requirements.
If the Committee determines that a particular complaint or concern is not covered by this policy,
it will refer the complaint or concern to the President of the Michigan Tech Fund for appropriate
handling and response. If the complaint or concern involves the President of the MTF, the
Committee will forward the issue to the then-current Chair of the Board of Directors.
3.58
Confidentiality and Non-retaliation:
Reports of questionable financial practices, accounting, or audit practices will be kept
confidential to the extent possible consistent with the Committee’s obligation to investigate and
correct unlawful or unethical accounting or audit practices. The Tech Fund cannot, however,
guarantee that the identity of the report will remain confidential.
The Tech Fund will not retaliate or take any form of reprisal against any person who makes a
good faith report pursuant to this policy. Any employee who retaliates against another employee
or a witness as described above will be subject to discipline, up to and including termination.
Employees who believe they are subject to retaliation because they have made a report or
participated in an investigation should report such suspected retaliation to the Audit
Committee in the same manner as described above for the reporting of questionable practices.
Cross Reference:
Conflict of Interests
Code of Ethics
Speaking to the Media
3.59
PERSONNEL
Date:
May 20, 1999
Category: Personnel
Subject: New Employee Orientation (Form F11.0, Form F12.0, Form F12.5, Form F13.0, and
Form F13.5)
Policy: It is the policy of the Michigan Tech Fund that new employees will undergo an
orientation to acquaint them with the Michigan Tech Fund’s policies and procedures, their jobs,
and their internal and external working relationships.
Purpose: The purpose of this policy is to establish a uniform orientation procedure for all new
regular full- and part-time employees.
The orientation will consist of two parts:
Orientation to the organization: The Human Resources Coordinator generally will coordinate
orientation to the Fund, to compensation and benefits, and the expectations of staff. As part of
the orientation, the employee will be shown how to access the online Policy Manual, which
contains the Fund’s personnel policies. The employee will be asked to sign a document (Form
F14.0) stating he or she has been made aware of and understands the material in the manual.
Orientation to the job: The new employee’s immediate supervisor generally will orient the
staffer to the job, and the internal and external working relationships. The purposes of this
orientation are to give staff a level of success to aim for, to assist them in succeeding, and to give
feedback to them on performance.
4.2
Date:
May 20, 1999
Category: Personnel
Subject: Personnel Files
Policy: It is the policy of the Michigan Tech Fund to maintain a personnel file on each of the
employees.
Purpose: The purpose of this policy is to establish guidelines for personnel files.
An employee may inspect the contents of her/his personnel file during normal business hours by
completing a request form (Form F15.0). The employee has a right to submit a response to any
document placed in her/his file. Such a response shall be attached to and filed with the
document placed in her/his file. Each employee shall have the right to place in her/his personnel
file materials which attest to her/his proficiency and experience. The Human Resources
Coordinator and the Accounting Manager have access to the locked file cabinet.
4.3
Date:
May 20, 1999
Category: Personnel
Subject: Sick Leave Allowances – Exempt and Nonexempt employees
Policy: It is the policy of the Michigan Tech Fund to provide all regular full-time and regular
part-time employees with the opportunity to accrue sick leave within the guidelines established
in this policy.
Purpose: The purpose of this policy is to provide for earned sick time, the use of which will
avoid the interruption of income resulting from an employee’s temporary illness. A further
purpose is to set out guidelines for sick leave accrual and usage.
Sick leave begins to accumulate with the first date of employment but does not become available
to employees until completion of two weeks of employment.
Accrual of sick leave: Sick leave accrues biweekly at the rate of four hours for each two weeks
of employment except that,
C
C
C
C
Maximum sick leave accrual is 132 days.
Part-time employees shall accrue sick leave in proportion to straight-time hours
employed each pay period.
Full-time employees must have 40 hours of paid employment each pay period to accrue
any sick leave.
Part-time employees who become full-time without a break in service, will retain their
previously accrued sick leave.
Availability of sick leave: Sick leave is available for the following purposes and covers
employees and members of the employee’s immediate family, who, in this instance, shall include
the following: spouse, children, parents, foster parents, parents-in-law, brothers, sisters,
grandparents, grandchildren, legal guardianship, or other direct dependents. In addition, this list
shall include an individual with whom an employee has a continuing personal living
arrangement which has existed over an extended period of time.
C
C
C
C
Personal illness, injury, quarantine, or disability
Medical appointments and dental appointments
Time for the employee to serve as pallbearer or to attend a funeral
To compensate an employee for the difference between payments received under the
Worker’s Disability Act and the employee’s regular wages.
Employees on leaves of absence without pay will not accrue sick leave during such period.
However, employees returning from an approved leave will have credited to them any unused
sick leave previously earned. This provision will not apply to rehires.
Student positions are considered temporary, and persons holding them are not eligible for
employment benefits including sick leave accrual.
4.4
Date:
May 20, 1999
Category: Personnel
Subject: Vacation Leave
Policy: It shall be the policy of the Michigan Tech Fund to provide for the accrual of vacation
leave for all exempt and nonexempt employees.
Purpose: The purpose of this policy is to provide guidelines for vacation leave usage.
In an effort to maintain a smooth-running operation with minimal disruption, some departments
may establish certain limitations on the length of vacation, the number of employees who can be
on vacation at one time, or time periods when vacations can be scheduled. Within these
limitations, the supervisor will endeavor to meet requested time off for vacation periods.
Vacation is not allowed in advance of being earned. When earned vacation time is exhausted the
employee must return to work or request a leave of absence.
Pay in lieu of vacation is not allowed except as terminal pay when leaving the Michigan Tech
Fund.
In case of the death of an eligible employee, payment of unused vacation is made to the
designated beneficiary at the employee’s regular rate of pay.
Student positions are considered temporary, and persons holding them are not eligible for
employment benefits.
4.5
Revised:
Created:
Category:
Subject:
April 6, 2002
May 20, 1999
Personnel
Vacation Accrual – Nonexempt
Policy: It shall be the policy of the Michigan Tech Fund to provide for the accrual of vacation
leave for all nonexempt employees.
Purpose: The purpose of this policy is to provide for an established schedule of vacation leave
accrual and provide guidelines for vacation leave usage.
Vacation time: Vacation begins to accumulate with the first day of eligible employment but does
not become available until the completion of 90 days of employment.
Employees will accrue vacation time biweekly at the following annual rates with a maximum
accrual of unused vacation of 30 days:
First year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Five days
Second year through fourth year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Ten days
Fifth year through seventh year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fifteen days
Eighth year through twelfth year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Eighteen days
Thirteenth year through seventeenth year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Twenty-one days
Eighteenth year and subsequent years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Twenty-four days
Accrued vacation time over the stated maximum will be lost.
Full-time employees must have 40 hours of paid employment each pay period to accrue any
vacation time.
All payment for vacation time shall be made at the employee’s current rate of pay.
Student positions are considered temporary, and persons holding them are not eligible for
employment benefits.
4.6
Date:
May 20, 1999
Category: Personnel
Subject: Vacation Accrual – Exempt
Policy: It shall be the policy of the Michigan Tech Fund to provide for the accrual of vacation
for all exempt employees.
Purpose: The purpose of this policy is to provide for an established schedule of vacation leave
accrual and provide guidelines for vacation leave usage.
Vacation time: Vacation begins to accumulate with the first day of eligible employment but does
not become available for use until after completion of one calendar month of employment.
Exempt staff accrues vacation at a rate of 7.4 hours per pay period with a maximum accrual of
unused vacation of 36 days.
4.7
Date:
May 20, 1999
Category: Personnel
Subject: Longevity pay
Policy: It shall be the policy of the Michigan Tech Fund to provide for longevity pay for eligible
employees.
Purpose: The purpose of this policy is to provide for an established schedule of longevity pay
and provide guidelines for usage.
Regular, full-time, nonexempt employees are eligible to receive longevity pay, which is based on
the length of continuous full-time, nonexempt status with the Michigan Tech Fund. Longevity
amounts will be added to the employee’s base salary. Eligible employees who are actively
employed or on approved leave of absence as of October 1 of any year will receive longevity pay
according to the following schedule. On October 1 of any subsequent year, the employee will
receive the differential longevity amounts added to the base salary.
Continuous Nonexempt Status
7 or more and less than 11 years
11 or more and less than 15 years
15 or more and less than 19 years
19 or more and less than 23 years
23 or more and less than 26 years
26 or more years
4.8
Annual Longevity
$140.00
$210.00
$280.00
$350.00
$420.00
$630.00
Date:
October 11, 2003
Category: Personnel
Subject: New Employees
Policy: It is the policy of the Michigan Tech Fund to treat all employees in a consistent and fair
manner.
Purpose: The purpose of this policy is to provide guidance to supervisors and new employees as
to initial evaluations, fringe benefits, and employment status with the Michigan Tech Fund.
Evaluations: Using the Periodic Progress Report (Form F13.5), a supervisor will review each
new, regular employee two weeks post hire, followed by reviews at three, six, and nine months.
The reports ensure the supervisor will monitor training, coach and correct the employee, and
assess the employee’s acclimation to the new position. The reports will become part of the
employee’s personnel record.
Fringe Benefits: Newly hired regular employees will receive fringe benefits according to the
policies and procedures in this manual.
Status: At all times during their employment, all Michigan Tech Fund employees are at-will
employees, and as such, may be terminated with or without cause, with or without notice, at the
option of the Michigan Tech Fund as recommended by the supervisor and approved by the Chief
Financial Officer. Completion of the initial nine months of employment and the progress report
process does not change the status of the employee: he or she remains an at-will employee.
Definition: Employment “at will” is for an indefinite or unspecified time period and continues at
the will of either the employer or the employee. Either party can terminate the agreement
without reason, notice, explanation, or cause, at any time.
Cross reference: Performance
Sick Leave Allowances – Exempt and Nonexempt Employees
Vacation Accrual – Nonexempt
Vacation Accrual – Exempt
4.9
Revised:
Date:
Category:
Subject:
April 16, 2005
May 20, 1999
Personnel
Termination
Policy: It shall be the policy of the Michigan Tech Fund that the termination of employment,
whether voluntary or involuntary, be conducted in a professional manner and consistent with
legal guidelines. All employees of the Michigan Tech Fund are at will. Either party, therefore,
can sever the work relationship without reason, notice, explanation, or cause. Further, this
policy provides that the Michigan Tech Fund management has the right to establish rules of
conduct, implement disciplinary measures, and to terminate staff due to insufficient Tech Fund
work load.
Purpose: The purpose of this policy is to define types of termination.
Discharge
The Michigan Tech Fund expects its employees to maintain certain standards of performance,
safety, and conduct. The Tech Fund does not tolerate such behavior as stealing, dishonesty,
insubordination, drinking alcoholic beverages on the job, or use of drugs in violation of the
Controlled Substance Act. In addition, the inability to perform one’s job, repeated tardiness,
excessive absenteeism, and failure to comply with Tech Fund policies are not acceptable. These
examples are not all-inclusive and do not modify the at-will relationship.
Generally, these standards are recognized and observed by staff members without any need for
action by supervisors. When these standards are not observed, the Tech Fund may discipline
and/or discharge.
C
C
Discipline may be in the form of an oral warning, a written reprimand, or suspension.
Any one or a combination of these actions may be used, depending on the circumstances
of the case. Termination does not necessarily require progressive discipline.
Termination of employees for lack of satisfactory performance normally shall come
through progressive disciplinary procedures. The Michigan Tech Fund reserves the right
to end any program or service, which may include the necessity of laying off employees
for appropriate business or economic reasons.
Reduction in Force
The Michigan Tech Fund endeavors to provide stable employment for its staff members.
However, situations such as a lack of funds, lack of work, or reorganization may require a
reduction in the work force. The employee to be terminated will receive notice as soon as
practical.
Resignation
When a staff member plans to sever the employment relationship, the Michigan Tech Fund
requests a minimum of two-weeks’ written notice in advance of the intended final day of
4.10
employment. At the option of the Tech Fund, such employees may be required to discontinue
work immediately, in lieu of working during the two-week-notice period.
Cross reference:
Personnel/Discipline
4.11
Date:
May 20, 1999
Category: Personnel
Subject: Discipline (Form F17.0 – Corrective Action Notice)
Policy: It is the policy of the Michigan Tech Fund that all employees are expected to comply
with the Fund’s standards of behavior and performance and that any noncompliance with these
standards must be remedied. Employees may be terminated with or without cause.
Purpose: The purpose of this policy is to provide a uniform procedure for supervisors to follow
when disciplining an employee.
Disciplinary Philosophy
Disciplinary actions are of several levels, including oral and written warnings, disciplinary
probation, suspension, and dismissal. Progressive discipline is not required for all offenses. The
Michigan Tech Fund reserves the right to terminate an employee with or without cause,
regardless of progressive discipline guidelines or counseling. Failure to comply with the
standards of behavior and performance will, however, more likely lead to termination.
Warnings
Documentation of both oral and written warnings will be signed by the supervisor and the
employee and kept in the employee’s personnel file. If an employee refuses to sign, the
supervisor should have a witness sign that a copy was given to the employee. The employee’s
signature indicates receipt of the document, but not necessarily his or her agreement with it.
This document should include identification of the date, violation, indication of necessary
improvement, and information concerning further disciplinary action that could result from
failure to show improvement.
Disciplinary Probation
An employee may be placed on disciplinary probation by the supervisor to allow the employee to
show improvement on the problem(s) specified at the time of probation.
The disciplinary probation period begins when the supervisor provides the employee with a
written – and signed – document that:
C identifies the problem(s);
C indicates the necessary improvement;
C specifies length of probation period;
C informs the employee of further disciplinary action that could result from failure to show
satisfactory improvement within the specified probation period.
Procedures for Writing Disciplinary Memos
The format for written warnings has three main sections:
C Introduction – describes what action is being taken and why
4.12
C
C
Supporting Paragraph – documents the reason for discipline, focuses on most recent
offense, cites the appropriate rule from the Fund’s policy
Conclusion – focuses on the future, notes any review period imposed, notes how employee
will be dealt with if misconduct continues
Other important ideas to remember:
Supervisors should also review disciplinary situations with the President of the Michigan Tech
Fund.
Use vocabulary that employees will understand.
The tone should be factual, avoiding exaggerations and eliminating judgmental statements.
Suspension
The President of the Michigan Tech Fund may suspend an employee for disciplinary reasons
without pay. An employee who is suspended will be given written notice of the reasons for the
action, and a copy will be made a part of the employee’s personnel record.
Employees can be suspended for incidents that merit termination if the employee’s participation
is suspected, but unclear. Under these circumstances, the President of the Michigan Tech Fund
can suspend the employee with pay while an investigation is conducted.
Supervisors will meet formally with suspended employees upon their return to work, and define
clearly and specifically the improvements in job-related behaviors required as a condition of the
employee’s continued employment. This meeting will be documented and records of it
submitted to the President of the Michigan Tech Fund. A copy of the suspension records will
also be added to the employee’s personnel file.
Definition: Employment “at will” is for an indefinite or unspecified time period and continues at
the will of either the employer or the employee. Either party can terminate the agreement
without reason, notice, explanation, or cause. Schwartz v. Michigan Sugar Co., 106 Mich App
471; 308NW 2d 459 (1991).
4.13
Revised:
Created:
Category:
Subject:
April 16, 2005, April 6, 2002
May 20, 1999
Personnel
Final Pay (Form F19.0 – Final Pay Agreement)
Policy: It is the policy of the Michigan Tech Fund that all employees receive their final pay
upon leaving the Michigan Tech Fund.
Purpose: The purpose of this policy is to provide a uniform procedure for disbursement of an
employee’s final pay.
Employees who leave the service of the Michigan Tech Fund for any reason shall receive all pay
which may be due them, with the following qualifications:
C
C
C
C
Regular employees will be paid for all unused vacation days only up to the maximum
allowable accrual amount. Payment will be made on the next regularly scheduled pay day.
Separation date for all employees is the last day of actual work or approved leave. Final
pay received by an employee will not be construed to extend his or her employment with
the Tech Fund beyond the separation date.
Michigan Tech Fund employees must return the building keys to the Tech Fund
receptionist.
Employees will be advised of their rights under the Consolidated Omnibus Budget
Reconciliation Act of 1986 (COBRA). Under this Act, qualified employees and their
dependents may be eligible to continue their existing coverage under the Michigan Tech
Fund’s health insurance plan—at their own expense, but at group rates—for a period
defined by the Act.
4.14
Date:
May 20, 1999
Category: Personnel
Subject: Exit Interview
Policy: It is the policy of the Michigan Tech Fund to conduct an exit interview upon
termination/resignation of an employee.
Purpose: The purpose of this policy is to provide a uniform procedure and to establish
guidelines for conducting an exit interview.
The Michigan Tech Fund has a considerable investment in its employees. Therefore, it is of
interest to the organization to evaluate the circumstances surrounding the separation of a staff
member, whether voluntary or involuntary. Exploring an employee’s reasons for resigning, or
the factors resulting in termination, enables the Michigan Tech Fund to better evaluate whether
the work environment is conducive to staff satisfaction or whether changes can or should be
made.
Guidelines:
Exit interviews should be conducted by the employee’s immediate supervisor in a private area
during the staff member’s regular work hours on the last date of employment.
The employee has the option of requesting or declining to discuss reasons for the separation.
In conducting an exit interview, the Fund will use an exit interview checklist (Form F20.0) to
provide structure for the discussion. The following items may be included on the exit interview
survey form:
C equipment/key return
C reasons for the separation
C plans for the immediate future and contact information
C benefits of employment with the Michigan Tech Fund
C verification of final pay and reimbursements
C COBRA information (continuing health insurance coverage)
C limitations of employment with the Michigan Tech Fund
C interest in re-employment
C employee suggestions and comments
4.15
Date:
May 20, 1999
Category: Personnel
Subject: Grievance Procedure (Form F21.0 – Grievance Report)
Policy: It shall be the policy of the Michigan Tech Fund to provide a meaningful employment
grievance procedure whereby an employee may file a grievance, without restraint, interference,
coercion, discrimination, or fear of reprisal, and to ensure that all grievances filed will be
handled with dignity in a professional and confidential manner.
Purpose: The purpose of this policy is to provide a process for grievances to be brought forward
in an orderly manner, so that such matters may be resolved in a timely manner.
Employees should attempt to resolve the problem informally with their supervisor as soon as
possible. If a solution cannot be reached, the employee may present a formal grievance, in
writing, to the President of the Michigan Tech Fund.
All complaints will be handled in a timely manner. As a goal, the Michigan Tech Fund attempts
to resolve a complaint within 20 working days from the time of its initiation. If an extension of
the time limit becomes necessary, all involved parties will be notified.
Employees may not file grievance procedures challenging the substance of a performance
appraisal.
4.16
Date:
May 20, 1999
Category: Personnel
Subject: Fraternization
Policy: It is the policy of the Michigan Tech Fund that staff maintain a professional relationship
with donors.
Purpose: The purpose of this policy is to ensure that staff maintains a professional relationship
with donors of the Michigan Tech Fund and do not receive any personal monetary benefit from
that relationship.
There will be no transferring of money or goods between staff members and donors.
If evidence of unprofessional or unethical interaction between any employee(s) and any
person(s) served is found, the President of the Michigan Tech Fund will conduct an investigation
of the charges to determine if a policy violation has occurred.
If a violation is established, the employee(s) may be dismissed, and a report will be filed with the
appropriate authorities if vulnerable adults are also involved.
Cross reference: Organization/Conflict of Interests
4.17
Date:
May 20, 1999
Category: Personnel
Subject: Performance
Policy: It shall be the policy of the Michigan Tech Fund to expect employees to meet and
exceed high standards and continuously strive for optimal levels of performance. Managers are
to support these expectations by providing performance management that promotes a productive
and rewarding experience.
Purpose: The purpose of this policy is to establish uniform procedures and set guidelines for
staff performance.
Guideline:
Performance management provides a consistent, general approach which is individualized based
on the person and nature of the work performed. Performance management occurs in three
overlapping phases:
C Performance Planning – establishing a clear understanding of performance expectations
C Ongoing Supervision – providing ongoing feedback, development, correction and
coaching
C Performance Evaluation – evaluating subordinates in writing using the Staff Performance
Appraisal Form (Form F22.0)
Procedure:
C Performance Planning means setting standards in advance. The starting point for
performance management is the job description. This contains expectations for job
positions. The key to the planning process is to provide the manager with a flexible
framework for developing specific goals. The employee is to be empowered to achieve
realistic and achievable goals through the process.
C Through ongoing supervision, the managers have a responsibility for continual feedback
and coaching to their subordinates, and the employees have a mutual responsibility for
continual conversation as to their performance with their supervisor.
C Performance Evaluations shall be performed in writing on an annual basis. The written
evaluation shall be discussed with the employee, shall contain a written acknowledgment
by the employee and supervisor that the evaluation was reviewed, and shall be filed in the
employee’s personnel file. The employee may elect to write a response to the evaluation
in the space provided on the evaluation form.
4.18
Revised:
Created:
Category:
Subject:
March 28, 2004, October 11, 2003
May 20, 1999
Personnel
Promotions/Transfers/Demotions
Policy: It is the policy of the Michigan Tech Fund to have appropriate staff in all positions.
Purpose: The purpose of this policy is to establish guidelines for promoting, transferring, or
demoting staff.
Staff member promotions, demotions, and transfers are made on the basis of several factors,
including but not limited to the needs of the Michigan Tech Fund, individual skills, abilities, and
demonstrated performance. When making such decisions, the Michigan Tech Fund observes the
following guidelines.
The Michigan Tech Fund strives to provide maximum advancement potential for current
employees and to make employment with the Michigan Tech Fund attractive to qualified
individuals. When a position vacancy occurs below manager level, or such new position is
created, there will be an internal advertisement for that position. To apply for an opening, staff
members should notify the appropriate supervisor and submit a letter of interest and resume by
the designated date. The interview committee and the HR Coordinator will review the
applications and determine if the applicants are qualified for the position. If none of the
applicants meets the requirements (on paper or in interviews), the position will be advertised
externally. When a position vacancy occurs at the manager level or above (including fundraising
staff), the process to fill it will begin with internal and external advertising, simultaneously. In
all cases, the Michigan Tech Fund will hire the candidate it deems best suited.
Promotions and Transfers:
To be eligible for a transfer, staff members must be performing at a satisfactory level in their
present job, and not be at the warning stage for any progressive disciplinary action. To be
eligible for a promotion, staff members must be performing at a level exceeding “satisfactory.”
Eligibility for a promotion or transfer, however, does not mean the staff member will be
promoted or transferred. Promotions and transfers may take effect as soon as possible, without
undue disruption of departmental operation.
Additionally, promotions and transfers at the director level and above require the written
approval of the President of the Michigan Tech Fund and the Chair of the Michigan Tech Fund
Board of Directors.
All employees receive the rights, privileges, benefits, and responsibilities attendant to the
position to which they are promoted or transferred.
4.19
Demotions:
A demotion may occur any time a staff member fails to satisfactorily meet performance
standards established for his or her current position.
All employees receive the rights, privileges, benefits, and responsibilities attendant to the
position to which they are demoted.
4.20
Date:
May 20, 1999
Category: Personnel
Subject: Excessive Absenteeism
Policy: It is the policy of the Michigan Tech Fund that all staff will work the designated amount
of hours commensurate with their position.
Purpose: The purpose of this policy is to establish procedures and guidelines for dealing with
staff with excessive absenteeism.
The Michigan Tech Fund expects every employee to report promptly to work each regularly
scheduled workday unless the employee is unable to report because of personal or family illness
or injury, is absent with prior supervisory approval, or is on an approved leave of absence.
Employees who miss too much work without approval or excuse will be disciplined. The
Michigan Tech Fund expects its supervisors to monitor the attendance of their employees and to
discipline them if their absenteeism becomes excessive.
The Human Resources Coordinator, on request, provides supervisors a monthly absence report to
help them monitor employee attendance. The report lists absences for their employees for the
most recent month. The schedule excludes absences resulting from vacation time, bereavement
time, and extended illness, defined as an illness of three or more consecutive days, which will be
dealt with individually. Excessive absenteeism may result in disciplinary action that could
include termination.
4.21
Date:
May 20, 1999
Category: Personnel
Subject: Bereavement
Policy: The policy of the Michigan Tech Fund is to allow an employee time off with pay for
bereavement leave.
Purpose: The purpose of this policy is to provide a uniform procedure for bereavement leave.
When an employee’s spouse, child, mother, father, sister, brother, grandmother, grandfather,
grandchild, great-grandchild, step-parent, step-child, father-in-law, mother-in-law, sister-in-law,
brother-in-law, son-in-law, daughter-in-law, legal guardian, aunt, uncle, niece, nephew, or
significant other (an individual with whom the employee has had a continuing personal living
arrangement which existed over an extended period of time) dies, the employee will be allowed
three (3) days bereavement leave to attend the funeral or service, and/or to make arrangements
without loss of pay. If additional time off is needed, the employee may request the use of sick
time, accrued vacation, compensatory time, or leave of absence without pay.
4.22
Revised:
Created:
Category:
Subject:
March 29, 2003
May 20, 1999
Personnel
Voluntary Sick Leave Pool
Policy: It is the policy of the Michigan Tech Fund to establish a Voluntary Sick Leave Pool.
Purpose: The purpose of this policy is to establish guidelines and procedures for use of the
Voluntary Sick Leave Pool.
Guidelines and Procedures
The purpose of the Voluntary Sick Leave Pool is to alleviate hardship caused to all regular
employees (30+ hours per week) who are unable to work because of a catastrophic illness or
injury to themselves or a qualified immediate family member and who have not met the
eligibility requirements for long-term disability.
Qualified immediate family members shall include spouse, children, and step-children.
Use of Voluntary Sick Leave Pool
• Catastrophic illness or injury is an illness/injury which would render the individual disabled
for a long period of time or possibly for life. The following will be considered catastrophic:
severe traumatic injury, degenerative neurological disease, cancer, cardiovascular disease,
stroke, long-term psychiatric care, and AIDS.
•
Eligibility: all eligible employees wishing to participate in the Voluntary Sick Leave Pool
must donate three days (24 hours) of their accrued sick leave. Donations can only be made
during the open enrollment month (September) held once a year (Form F24.0). Employees
may not designate a particular employee to receive their donated time.
•
There is a three-month waiting period before new employees become eligible to participate
in the Voluntary Sick Leave Pool.
•
There will be a 30-business-day waiting period for each catastrophic illness/injury before an
employee can use the Voluntary Sick Leave Pool. An employee does not have to exhaust all
his/her sick leave.
•
If the Voluntary Sick Leave Pool becomes exhausted, an additional donation will be required
to continue eligibility.
•
No employee can receive more than 100 days from the Voluntary Sick Leave Pool in any 12month period.
•
The Voluntary Sick Leave Pool can also be used after accrued sick leave is used up to care
for: parents, parent-in-laws, brothers, sisters, grandparents, or grandchildren. This use is
limited to 30 days in any 12-month period.
•
All requests for the Voluntary Sick Leave Pool time (Form F25.0) must be accompanied by a
physician's statement (Form F26.0) which states:
4.23
•
•
•
•
•
a description of the illness/injury
the beginning date of the condition
a prognosis for recovery
the anticipated return to work date
If the time being requested is to care for a family member, the request must ALSO include:
•
•
the relationship
a statement concerning to what extent the family member is dependent on the employee
for continuing care
•
Those employees who are claiming a work-related injury under workers’ compensation are
not eligible for the Voluntary Sick Leave Pool.
•
All benefits (health, life, long-term disability, retirement) will be continued by the Michigan
Tech Fund during the usage of the Voluntary Sick Leave Pool. Sick leave and vacation time
are not accrued while drawing from the Voluntary Sick Leave Pool. Employees using
Voluntary Sick Leave Pool time are not eligible to collect holiday pay. Employees will be
responsible for their share of the insurance costs.
•
All Voluntary Sick Leave Pool requests will be reviewed by a committee consisting of the
Human Resources Coordinator and Tech Fund management. The committee will have five
working days in which to approve all or part of the request, or to deny the request.
4.24
Revised:
Created:
Category:
Subject:
May 2006
May 20, 1999
Personnel
Dress Code
Policy: It is the policy of the Michigan Tech Fund that all staff be dressed in an appropriate and
professional manner.
Purpose: The purpose of this policy it to establish basic guidelines for proper attire.
As representatives of the Michigan Tech Fund, staff is expected to exhibit a neat, well-groomed
appearance. During regular business hours, all regular employees are expected to dress in a
professional manner. The style, color, etc., of an employee’s clothing are the individual
employee’s choice. However, an overall appearance that tends to attract undue attention to the
wearer is unsuitable for office wear. A list of currently acceptable clothing standards is available
from the Human Resources Coordinator.
4.25
Date:
May 20, 1999
Category: Personnel
Subject: Telephone Calls
Policy: It is the policy of the Michigan Tech Fund that phone calls are to be made for business
purposes.
Purpose: The purpose of this policy is to establish basic guidelines for use of the telephone.
Staff members are discouraged from making personal calls. The Fund realizes that an occasional
personal call may be necessary. Number of calls and duration should be kept to a minimum and
preferably any calls should be taken during the employee’s break or lunch period. Personal use
of telephones for long-distance calls by staff members is not allowed, except in the case of
emergency. For this reason, staff is encouraged to obtain and use a personal telephone calling
card to bill calls to a home telephone number.
4.26
Revised:
Created:
Category:
Subject:
March 29, 2003
May 20, 1999
Personnel
Request for Information About Staff Members
Policy: It is the policy of the Michigan Tech Fund that all requests for information concerning
staff members be communicated in a consistent manner.
Purpose: The purpose of this policy is to establish guidelines for communicating personnel
information regarding staff members.
The Michigan Tech Fund recognizes the individual staff member’s right to privacy. Therefore,
all requests for information about a current, retired, or terminated employee must be transferred
to the Human Resources Coordinator, who may disclose to prospective employers dates of
employment, final title or position, and job location. No other employee shall release any
personnel information concerning staff members.
In the case of an MTU employee, all requests are made through the University’s Human
Resources Department.
The Michigan Tech Fund will require all staff members, including those involved in record
keeping, to adhere to this policy and practice, and violations may result in disciplinary action up
to and including termination.
4.27
Date:
May 20, 1999
Category: Personnel
Subject: Use of Michigan Tech Fund Property
Policy: It is the policy of the Michigan Tech Fund that property and equipment be used in a
manner consistent with its intended purpose and for agency business only.
Purpose: The purpose of this policy to establish guidelines and procedures for use of the Fund’s
property.
Staff members will not directly or indirectly use or allow the use of property, equipment, or
supplies belonging to the Michigan Tech Fund or located on the Fund’s premises for any
purpose other than business, unless special permission is obtained from the President of the
Michigan Tech Fund.
Furthermore, no staff member shall willfully alter, mutilate, abuse, or waste any property,
equipment, or supplies belonging to the Fund or located on the Fund’s property. The improper,
careless, negligent, destructive, or unsafe use or operation of equipment or vehicles can result in
disciplinary action, up to and including termination.
If, in the course of normal business use, staff notices that any equipment, machines, tools, or
vehicles appear to be damaged, defective, or in need of repair, he or she should notify the
supervisor in writing as soon as possible. Prompt reporting of damages, defects, and the need for
repairs could prevent deterioration of equipment and possible injury to staff or the people we
serve.
Employees are discouraged from using the photocopying equipment for personal use. If an
employee needs to make excessive personal copies, he or she will be required to pay 10 cents per
copy for all copies over a five-page limit per day.
4.28
Date:
October 13, 2001
Category: Personnel
Subject: Workplace Violence
Policy: It is the policy of the Michigan Tech Fund that no workplace violence will be tolerated.
Purpose: The purpose of this policy is to provide a procedure for employees and supervisors to
follow in dealing with workplace violence.
In an effort to foster an environment where employees honor and respect one another, the
Michigan Tech Fund supports a “zero tolerance for acts/threats of violence” in the work setting.
Zero tolerance for acts/threats of violence includes but is not limited to:
•
•
•
•
•
any act of physical violence
any actual, implied, or veiled threat made seriously or in jest
any type of vulgar or derogatory language
any type of intimidating behavior that could lead to a hostile workplace
carrying of firearms or other weapons anywhere on Michigan Tech Fund premises
Any employee who engages in threatening, intimidating, and/or violent behavior shall be subject
to discipline up to and including discharge. Incidents that violate legal parameters will be
reported to and handled by the appropriate legal authorities.
Procedure:
Any employee who feels that he/she is a victim of threatening and/or violent behavior, or any
employee who witnesses such an incident, should immediately report the matter to his/her
supervisor or to any Michigan Tech Fund supervisor or director.
The supervisor or director should address the situation, unless it’s too volatile, in which case,
help should be solicited from the Chief Financial Officer or the police immediately.
The supervisor or director should document the discussion and resolution of the situation.
The supervisor or director should inform the employee who reported the incident, that the
situation has been addressed, and how the incident has been resolved.
All documented complaints of threatening and/or violent behavior will be forwarded to Michigan
Tech Fund Human Resources immediately. HR should also be informed of
protective/restraining orders that list the Michigan Tech Fund location.
If the employee does not feel the complaint has been satisfactorily resolved, the employee should
then bring his/her complaints to the Chief Financial Officer and Director of Operations. If he/she
still has not received satisfaction, the complaint may be taken to the President of the Michigan
Tech Fund.
4.29
Date:
October 13, 2001
Category: Personnel
Subject: Anti-discrimination (Form F32.0 – Complaint of Discrimination)
Policy: It shall be the policy of the Michigan Tech Fund to abide by the federal and state laws
prohibiting discrimination against an employee or applicant.
Purpose: The purpose of this policy is to provide guidelines to ensure that there will be no
illegal discrimination against employees and applicants.
The Michigan Tech Fund is an equal opportunity employer that supports and subscribes to a
policy of nondiscrimination in all aspects of employment. The Michigan Tech Fund will not
discriminate on the basis of race, color, religion, national origin, sex, age, height, weight, marital
status, familial status, disability, or any other reason prohibited by applicable laws.
Under Michigan law, an employee may not be discriminated against in employment because of a
disability that can be reasonably accommodated to enable that employee to perform the job.
Disabled employees who feel accommodation is needed to perform a job must notify his/her
supervisor in writing of the need for accommodation within 182 days after the date the employee
knew or reasonably should have known that an accommodation was needed.
4.30
Date:
October 13, 2001
Category: Personnel
Subject: Family and Medical Leave Policy (Form F30.0 – Request for Leave under the Family
and Medical Leave Act)
Policy: It shall be the policy of the Michigan Tech Fund to abide by the Family and Medical
Leave Act and allow eligible employees up to twelve weeks of unpaid leave annually for specific
circumstances outlined in this policy.
Purpose: The purpose of this policy is to provide guidelines to supervisors and employees on the
terms of the Family and Medical Leave Act.
Eligibility
Eligible employees who have completed at least twelve months of service and worked 1,250
hours or more during the preceding twelve months are eligible to take leave under the Federal
Family and Medical Leave Act (FMLA). Eligible employees may take up to twelve weeks of
unpaid leave annually for the birth or adoption of a child; the placement of a foster child; the
physical or psychological care for a seriously ill parent, spouse, or child; or the care of the
employee’s own serious physical or mental condition.
For purposes of FMLA, employees are entitled to twelve weeks of leave in a rolling twelvemonth period looking back from the first day of the new leave period being requested. In other
words, anytime an employee requests FMLA leave, his/her entitlement would be any remaining
balance of the twelve weeks which had not been used during the immediately preceding twelve
months.
Eligible spouses both employed by MTF are only entitled to a combined total of twelve weeks of
FMLA leave, as calculated above, for the birth and care of a newborn child; for placement of a
child for adoption or foster care; or to care for a parent with a serious health condition. If either
spouse or his or her child suffers from a serious health condition, both spouses are entitled to
twelve weeks of unpaid FMLA leave, calculated on a rolling twelve-month period measured
backward.
An eligible employee may take an intermittent leave to care for an immediate family member
with a serious health condition or that employee’s own serious health condition.
•
•
•
Eligible employees seeking to take intermittent leave must give the Michigan Tech
Fund as much notice as practicable of the need for the leave.
When an eligible employee is taking intermittent leave in order to undergo treatment
or to care for an immediate family member undergoing treatment, he/she must make a
reasonable effort to schedule the treatment so as not to unduly disrupt the Michigan
Tech Fund’s operations.
The Michigan Tech Fund may require that an eligible employee taking intermittent
leave transfer temporarily to an alternate position or a part-time schedule with the
4.31
•
same pay and benefits, which better accommodates the employee’s recurring periods
of absence.
The Michigan Tech Fund will not permit an eligible employee to take intermittent
leave for the birth and care of a newborn or the placement of a child for adoption or
foster care.
FMLA leave for child birth, newborn care, or adoption or foster care placement, must be
concluded within twelve months from the birth or placement of the eligible employee’s child.
A seriously ill family member is defined as a parent, child, or spouse who has a physical or
mental condition that warrants the participation of the employee during the period of medical
treatment. A health care provider’s certification is required in cases of serious health conditions,
whether the employee’s or that of the employee’s spouse, child, or parent. The Michigan Tech
Fund also reserves the right to require, at its own cost, a second, or even third, medical opinion.
Forms can be obtained from the Human Resource department.
Substitution of vacation leave
The family and medical leave of absence is an unpaid leave. However, the Michigan Tech Fund
requires the employee to substitute accumulated, unused vacation for any FMLA leave
requested. By substituting leave, the employee continues to receive pay, but the unpaid FMLA
leave available is reduced.
Benefits
During an approved family or medical leave, the employee’s health benefits will be provided as
though he/she had continued to work. If he/she has family coverage, the employee must arrange
with the payroll department to submit timely monthly payment for his/her portion, if any, of the
health insurance premiums. To the full extent allowed under the FMLA, the Michigan Tech
Fund reserves the right to recover health insurance premiums from employees who fail to return
to work at the end of an FMLA-qualifying leave.
Benefits that operate on an accumulation basis (such as vacation and sick time) on the basis of
actual hours worked will not accumulate during an FMLA leave, nor will the employee be
entitled to paid holidays and “miscellaneous absences” during the leave.
Reinstatement
At the end of an FMLA leave, the employee will be restored to the same position or to an
equivalent position, with equivalent pay, benefits, and other employment terms and conditions.
However, the employee is subject to the business circumstances or conditions (such as layoffs)
that would have applied to him/her had he/she been working. Under limited conditions, certain
key employees as defined by Federal law may not be reinstated.
Procedures for requesting leave
As soon as the employee knows that he/she will need time off for a family or medical leave of
absence, he/she must submit to the employee’s supervisor a completed Leave Request form.
4.32
When possible, thirty days’ notice is required. In the event of any emergency, the request should
be submitted to the supervisor not later than forty-eight hours following the commencement of
the injury, illness, or disability. If the employee cannot contact the supervisor personally, he or
she must have someone contact the supervisor on the employee’s behalf.
During the leave of absence, the employee is responsible for keeping the supervisor informed of
the employee’s status. He or she is required to report that status, current location, intent to
return, and expected date of return to the supervisor every thirty days. The Michigan Tech Fund
has the right to require recertification of the serious health condition.
Failure to return to work on schedule will be considered a voluntary termination of employment,
effective 5:00 p.m. on the third day the employee fails to report to work. To protect the status of
the employee with the Michigan Tech Fund, the employee will follow all procedures for
reporting back to work after the family or medical leave of absence.
Upon returning to work after a family or medical leave of absence of more than one week
because of his or her own serious health condition, the employee must submit a physician’s
certification stating that he or she is physically able to return to work. Failure to submit such
documentation may delay or prevent his or her return to work.
4.33
Date:
April 6, 2002
Category: Personnel
Subject: Student Employment
Policy: It is the policy of the Michigan Tech Fund to employ students in various areas of the
Fund operation.
Purpose: The purpose of this policy is to provide general information about student employment
with the Michigan Tech Fund.
Status and Benefits
Student positions are considered temporary, and persons holding them are not eligible for
employment benefits including retirement contributions, health insurance, life insurance, paid
holidays, and vacation and sick leave accrual. Student employees are covered by worker’s
compensation insurance.
FICA Exception
During the fall and spring semesters, students employed by the Michigan Tech Fund, and who
are enrolled half-time or more at Michigan Tech, are exempt from FICA in accordance with the
Internal Revenue Service Procedure 98-16. High school students and students enrolled at other
universities are not FICA-exempt.
The FICA exception does not apply if the student is not enrolled in classes during school breaks
of more than five weeks (including summer breaks of more than five weeks). During the
summer sessions, an undergraduate student must be enrolled for at least three credit hours, and a
graduate student must be enrolled for at least one credit hour to qualify for the FICA exception.
The determination of student status will be made at the end of the drop-add period.
The student who qualifies for the exception will be eligible with respect to all work done during
all payroll periods that fall wholly or partially within the academic term. (If the academic term
begins or ends during on the payroll period, the student will be eligible for the FICA exception
for the entire payroll period.)
4.34
Date:
April 6, 2002
Category: Personnel
Subject: Sexual Harassment (Form F32.0 – Complaint of Discrimination)
Policy: It is the policy of the Michigan Tech Fund to provide a working environment free of
sexual harassment for its employees.
Purpose: The purpose of this policy is to define sexual harassment and emphasize the
seriousness with which violations of this policy will be treated.
The Michigan Tech Fund will not tolerate sexual harassment among its employees. The
Michigan Tech Fund is committed to providing a work environment where women and men can
work together comfortably and productively, free from sexual harassment. Such behavior is
illegal under both Michigan and federal law and will not be tolerated in the Fund.
Prohibited Behavior
Prohibited sexual harassment includes unsolicited and unwelcome contact that has sexual
overtones. This includes, but is not limited to:
•
•
•
•
written contact, such as sexually suggestive or obscene letters, notes, invitations
verbal contact, such as sexually suggestive or obscene comments, threats, slurs, epithets,
jokes about gender-specific traits, sexual propositions
physical contact, such as intentional touching, pinching, brushing against another’s body,
impeding or blocking movement, assault, coercing sexual intercourse, and
visual contact, such as leering or staring at another’s body, gesturing, displaying sexually
suggestive objects or pictures, cartons, posters, or magazines.
Sexual harassment also includes continuing to express sexual or social interest after being
informed directly that the interest is unwelcome, and using sexual behavior to control,
influence, or affect the career, salary, or work environment of another employee.
It is impermissible to suggest, threaten, or imply that failure to accept a request for a date or
sexual intimacy will affect an employee’s job prospects. For example, it is forbidden either to
imply or actually withhold support for an appointment, promotion, or change of assignment, or
suggest that a poor performance report will be given because an employee has declined a
personal proposition.
Also, offering benefits, such as promotions, favorable performance evaluations, favorable
assigned duties, recommendations, or reclassifications in exchange for sexual favors is
forbidden.
Harassment by Nonemployees
In addition, the Michigan Tech Fund will take all reasonable steps to prevent or eliminate sexual
harassment by nonemployees including donors, customers, clients, suppliers, and others who are
likely to have workplace contact with the Fund’s employees.
4.35
Monitoring
The Michigan Tech Fund shall take all reasonable steps to see that this policy prohibiting sexual
harassment is followed by all employees, supervisors, and others who have contact with the
Fund’s employees. This prevention plan will include training sessions, ongoing monitoring of
the work site, and a confidential employee survey to be conducted and evaluated every six
months.
Discipline
Any employee found to have violated this policy shall be subject to appropriate disciplinary
action, including warnings, reprimand, suspension or discharge, according to the findings of the
complaint investigation.
If an investigation reveals that sexual harassment has occurred, the harasser may also be held
legally liable for his or her actions under state or federal anti-discrimination laws or in separate
legal actions.
Retaliation
Any employee bringing a sexual harassment complaint or assisting in investigating such a
complaint will not be adversely affected in terms and conditions of employment, or
discriminated against or discharged because of the complaint. Complaints of such retaliation
will be promptly investigated and punishment administered.
Complaint Procedure and Investigation
All complaints of sexual harassment and retaliation for reporting or participating in an
investigation shall be directed to the employee’s supervisor, either in writing, by filling out the
complaint form, or by requesting an individual interview. If the supervisor is the subject of the
complaint, then the President of the Michigan Tech Fund shall receive the complaint. All
complaints shall be handled as confidentially as possible and be promptly investigated.
4.36
Date:
April 6, 2002
Category: Personnel
Subject: Public Service Absence
Policy: It is the policy of the Michigan Tech Fund to allow its employees to fulfill requirements
of jury duty, military duty, and court subpoenae.
Purpose: The purpose of this policy is to provide guidelines to employees who are called to
service and require time away from work.
Emergency Duty: If you must lose time from work because of volunteer emergency duty (such
as fire department or Red Cross), you will be paid the difference between the pay for these duties
and your regular pay.
In order to be eligible, you must have your fire chief or Red Cross supervisor confirm your
membership and time served by completing forms available from the Michigan Tech Fund
Human Resource Coordinator prior to being available for such duty.
Service Absence: A service absence entails military training (reservist or national guardsman)
not exceeding twenty work days per year, or jury duty, or testifying due to a subpoena. Regular
employees are paid the difference between military base pay, jury pay, or witness fees, and
regular pay for work time lost during the employee’s schedule of hours.
Jury/Witness Service: If you are called for jury duty or to testify at the order of a court, you
will be excused from your job without loss of pay or benefits for a period not to exceed thirty
work days with pay in any calendar year. However, your regular wages will be reduced by the
amount of any compensation you receive for such service.
When you report for jury duty but are not selected to serve for that day or session you must
return to work for completion of the normal work schedule or until your next scheduled duty.
Upon verification from court personnel (i.e., letter from prosecutor/attorney, etc.), victims of a
crime may submit a written request for “court attendance” to their immediate supervisor. The
request must be approved by the supervisor and President of the Michigan Tech Fund. Time off
will be charged to accrued vacation time or the employee may opt for time off without pay.
Employees must provide verification of attendance from court personnel.
Military Service: A leave of absence for military service shall be granted upon written request
through the employee’s immediate supervisor and upon approval of the President of the
Michigan Tech Fund, and Tech Fund Human Resources, for a normal tour of duty.
4.37
Date:
March 28, 2004
Category: Personnel
Subject: Hiring
Policy: It is the policy of the Michigan Tech Fund to be consistent, fair, and law abiding in its
hiring practices.
Purpose: The purpose of this policy is to establish the standards the Michigan Tech Fund will
use in hiring employees.
The Michigan Tech Fund will adhere to federal and state laws in regard to hiring employees. To
be eligible for employment, the applicant must meet the minimum hiring specifications for the
position, and be capable of performing the essential functions of the job, with a reasonable
accommodation, as necessary.
To assure that applicants are treated fairly and consistently, the Tech Fund will document the
hiring process.
4.38
Created: April 16, 2005
Category: Personnel
Subject: Approved Leaves of Absence without Pay
Policy: It is the policy of the Michigan Tech Fund to consider granting leaves of absence
without pay.
Purpose: The purpose of this policy is to define leaves of absence without pay and establish a
protocol for their administration.
During a leave of absence without pay, an employee will not accrue vacation or sick leave, nor
be eligible for any payments for time off work provided by this policy. During a leave of
absence without pay, employees will not be entitled to paid holidays. Subject to, and consistent
with, the Group Life Insurance Plan, the Group Hospitalization Plan, and other group insurance
plans, coverage may be continued during the leave of absence provided direct payment of the
total premium is made through and as prescribed by the Michigan Tech Fund. During a leave of
absence, the Tech Fund’s contribution to the relevant retirement system is discontinued and
benefits do not accrue, are not forfeited, and cannot be withdrawn.
Informal Leave of Absence
A leave of absence may be granted for personal reasons for a period not to exceed fourteen days.
Application: Written application must be made to the immediate supervisor, and approved by
the department director. Such a leave may not be extended.
Formal Leave of Absence, Personal Reasons
A formal leave of absence may be granted for personal reasons for a period not to exceed 180
calendar days.
Application: Written application must be made to the immediate supervisor and approved by the
department director. Such a leave may be extended for an additional period not to exceed 180
calendar days, upon approval of the department director. In no event shall leave be granted to
enable an employee to work for another employer or in self-employment.
Family and Medical Leave Act of 1993 (FMLA)
Under the Family and Medical Leave Act of 1993, employees may qualify for an FMLA leave of
absence to care for the employee’s serious health condition or that of a qualified spouse, parent,
or child. These leaves maintain current health insurance coverage during the leave, are without
pay, and may have a duration of twelve weeks within a twelve-month period. Arrangements for
leaves are to be made with the supervisor, the department director, and the human resources
coordinator.
Cross reference: Family and Medical Leave Policy
4.39
INFORMATION TECHNOLOGY
Date:
May 20, 1999
Category: Information Technology
Subject: Security – Computing Access – Local and Remote
Policy: It is the policy of the Michigan Tech Fund to support and comply with security
requirements and guidelines as instituted and practiced by the University for campus, local and
remote access, and computing.
Purpose: The purpose of this policy is to establish guidelines and procedures for the use of
computing equipment.
Access to Computing
Local campus or off-campus business computing is supplied to each employee as needed via the
University network. Local campus access is deemed secure for Fund computing purposes.
Such access is provided to employees as needed for their employment and performance of
expected job requirements.
Remote Access:
Remote access in the local geography or from a distant geographical location is provided to the
Fund employee as needed by Merit. Merit access is not considered to be secure by the
University for remote access.
In order for the employee to make use of the remote connection, access permission and a
password must be obtained. Both are available to an employee with a Tech Express Card and a
remote computing need. Appropriate software must be installed and activated on the equipment
that will be used for remote computing. A test is performed to demonstrate that the remote
access works once necessary software is installed and configured.
Obtaining Remote Access:
At the time an employee determines that they need remote computing access to perform their job
these steps are followed:
•
•
•
•
•
Obtain approval from direct manager for the need for remote access.
Notify the Manager of Information Services for Development or designee of the need for
remote access.
Obtain a password for remote access by going to the basement of the EERC and using the
Tech Express card.
Notify the Manager of Information Services for Development or designee when the
password has been obtained.
Make arrangements with the Manager of Information Services for Development for
software installation and testing.
5.2
Software Installation and Test:
The Development Computer Specialist will arrange to have the necessary software installed
on the laptop or other computing device to be used for remote computing.
The Development Computer Specialist will observe a test of the remote access capability by
the user in the Fund offices. If any problems are observed, the Development Computer
Specialist or the user, as appropriate, will correct them.
5.3
Date:
May 20, 1999
Category: Information Technology
Subject: Information Access
Policy: It is the policy of the Michigan Tech Fund that all employees have appropriate computer
access commensurate with their position.
Purpose: The purpose of this policy is to establish procedures and guidelines for employee
access to computerized information.
Regular access to the computing capability utilized by the Fund is managed at the point of hire,
during employment, and at termination of employment.
Only those employees who have legitimate access needs to the network, email, and to various
Advancement data and information as required by their position and job function within the
Fund are provided with such access privileges. Such access is initially evaluated at the time of
employment. It is the responsibility of the employee and the supervisor to advise when such
conditions change.
The first step in gaining systems access for the new employee is initiated by the Manager of
Information Services for Development (“the Manager”) upon request by the supervisor. The
Human Resources Coordinator provides the Manager with the employee’s full name (first,
middle, last), date of birth, and social security number. Such information is needed at least five
business days prior to expected use. The hiring manager also provides the expected interaction
with the Banner Advancement System that will be required by the employee. Access to the
Banner Advancement System is initiated by the Manager and follows the initial provision of
access to the network and email by the Development Computer Specialist. Such access
provides or limits the employee in seeing, updating, or using the Advancement system data.
Day-to-day computing problems are managed by the Development Computer Specialist and
on an as-needed basis by the Manager.
The data custodian role for the Banner Advancement System is fulfilled by the Manager.
At the time that information about an employee termination date becomes known, the
employee’s supervisor advises the Manager of the expected date of termination. The Manager
ensures that all access to the Advancement system is revoked at the close of business on the date
of termination. Other system access privileges are also revoked as appropriate at that time.
5.4
Date:
October 11, 2003
Category: Information Technology
Subject: Computing Resources Usage
Policy: It is the policy of the Michigan Tech Fund to utilize computing resources.
Purpose: The purpose of this policy is to establish guidelines for computer resource use.
As a condition of use of the Michigan Tech Fund computing resources, the user agrees:
1. To respect the intended uses of the computer access accounts
Users shall use only their assigned access logins/accounts as authorized by Information Services
(IS) for the purposes specified by the requester. Users shall not disclose logins/accounts to any
other person.
2. To respect the privacy of other users
Users shall not intentionally seek information on, obtain copies of, or modify data files,
programs, or passwords belonging to other users of the system.
3. To respect the integrity of the system
Users shall not intentionally develop and/or use programs, transactions, or processes which
harass other users of the system. This includes harassment and offensive language through
email. Users shall not attempt to infiltrate the systems and/or damage components thereof.
Installation of programs on any Michigan Tech Fund machine by non-IS staff is expressly
forbidden. Any modifications which may fall under this heading are strictly forbidden.
Violation of any of the above conditions is unethical and possibly criminal. Therefore,
when management of IS becomes aware of a possible violation of these conditions, an
investigation will be initiated. During the investigation, suspension of any and all accounts
may be warranted to prevent further possible unauthorized activity. Confirmation of
unauthorized use may result in disciplinary review, termination of employment, and/or
legal action. IS shall observe users whenever misconduct is suspected. Furthermore, email
may be monitored and users have no expectation of privacy with respect to email accessed
through the Michigan Tech Fund computing resources. Any messages regarding illegal
activities may be reported to the appropriate authorities.
4. All uses of the system must be in accord with the basic usages described below.
a. Appropriate Action
Computing resources shall be used in a manner consistent with the specific objectives of
the project or task for which such use was authorized. All uses of the facilities
inconsistent with these objectives, even if authorized, are considered to be inappropriate
use, and may jeopardize further authorization.
b. Responsible Use
Users are urged and expected to use the facilities in a responsible and efficient manner
consistent with the goals and objectives for which the access was authorized. All users
are expected to refrain from engaging in deliberately wasteful practices. For example,
printing large amounts of unnecessary listings, using computers for frivolous activities
5.5
(i.e., games), or unnecessarily holding dial-up telephone lines for long periods of time.
The pertinent consideration is the recognition that computing resources are finite. Users
are expected to cooperate to the greatest extent possible in making these resources
available to others.
5.6
Date:
May 20, 1999
Category: Information Technology
Subject: Email
Policy: An email policy is in effect at Michigan Tech. The Fund follows the established
Michigan Tech policy. A full description of the Michigan Tech policy is located at
www.dcs.mtu.edu.
Purpose: The purpose of this policy is to establish guidelines for email messages.
An excerpt from the Michigan Tech email policy follows:
Email is a strategic service which must be carefully managed to ensure prompt and accurate
delivery of information. To ensure that everyone in the Michigan Tech community can rely on
prompt, private, consistent, and accurate delivery of email messages, the policies below were
developed. They are derived from existing University and MichNet Acceptable Use policies.
For more information, refer to the links below or contact IT Services and Security at 487-0010.
Michigan Tech’s email system is for the use of University-affiliated faculty, staff, and students.
Central email lists are to be used for University functions and in accordance with the purpose
stated in their description. Refer to Central Email List Procedures for more information. Also
refer to Michigan Tech’s Conflict of Interest Policy for use of MTU resources for activities other
than for University purposes.
Abusing the campus email system is prohibited. This includes, but is not limited to, sending
spam mail, pyramid and chain letters, spoofed-identity mail, and harassing mail. Attempting to
connect to campus email and related servers using methods not outlined in campus email
standards is prohibited. Refer to Email Abuse for more information.
Unsolicited mass mailings to off-campus email addresses are not allowed.
For large, on-campus, unsolicited mailings, written approval by a dean or director must be
forwarded to the Manager of Distributed Computing Services before the message is sent. Refer
to Procedures on Emailing Mass Mailings at Michigan Tech for more information.
Student organizations are not permitted to initiate mass mailings on the University’s email
system unless approved by the Office of Student Affairs. The procedures are outlined in Emailing
Mass Mailings by Recognized Student Organizations documented at the Office of Student
Affairs.
Email Abuse
Below are examples of email abuse activities not allowed at Michigan Tech. This is not a
complete listing of possible violations. Official University policies for students can be found in
the Michigan Tech Student Computer Use Policy in the Student Handbook. For faculty and staff,
policies regarding use of Michigan Tech facilities are described in the Michigan Tech Conflict of
5.7
Interest Policy. Copies are available from the Conflict of Interest Coordinator or Research
Services (contact at 487-2225). Email abuse violations are subject to University disciplinary
action.
Spam
Spam is broadly defined as unsolicited, email sent to a large number of recipients, and its
content is not University related. Michigan Tech’s email accounts are not allowed to be used
for the purpose of sending spam messages. Not only is this a misuse of University resources,
but it can also result in external sites “black listing” Michigan Tech, prohibiting delivery of any
future Michigan Tech emailings to that location.
Chain letters and Pyramid schemes
These email messages are sent to a specific number of people, usually professing a “get rich
quick” scheme. The recipients are then asked to forward the message on to the same number of
people. These types of messages are illegal and not allowed on the Michigan Tech network.
Accounts found associated with chain letters or pyramid schemes may be turned off without
warning.
Spoofing
Spoofing refers to someone sending mail that “appears” to be from someone else. This is the
same as forging someone else’s identity.
Harassment
Harassment via email, as with other avenues of communication, is prohibited.
5.8
FORMS
FORM F2.0 – Confidentiality Acknowledgment
CONFIDENTIALITY ACKNOWLEDGMENT
I shall respect the privacy concerns of the people we serve, and I shall hold in confidence all
information obtained in the course of professional service, whether that information is obtained
through written records or daily interaction with the person. Therefore, I will not disclose an
individual’s confidences to anyone, except: 1) as mandated by law; 2) to prevent a clear and
immediate danger to a person or persons; 3) where I am compelled to do so by a court or
pursuant to the rules of a court.
I shall store or dispose of professional records in ways that maintain confidentiality.
I shall possess a professional attitude which upholds confidentiality toward the people we serve,
colleagues, applicants, and any sensitive situations arising within the nonprofit.
I, upon my termination, shall maintain client and co-worker confidentiality, and I shall hold
confidential any information about sensitive situations within this nonprofit.
I understand that violation of this confidentiality statement may be grounds for immediate
dismissal.
__________________________________________________
Signature
________________________
Date
__________________________________________________
Supervisor signature
________________________
Date
6.1
FORM F3.0 – Chronological Report of Serious or Fatal Accident
CHRONOLOGICAL REPORT OF SERIOUS OR FATAL ACCIDENT
In the event of a serious or fatal accident, you’ll want to make sure you’ve documented the
incident and all follow-up steps. This form will help you do this.
Name of victim: _______________________________________________________________
Time and date of incident: _______________________________________________________
Location of the incident: _________________________________________________________
1. Describe each step of the incident, giving the exact time of each occurrence.
2. Describe each step taken and by whom. Attach additional sheets, if necessary.
3. List the names and addresses of all witnesses.
4. List exact statements of witnesses. Attach additional sheets, if necessary.
5. Make a sketch of the accident scene. Include pertinent physical objects and placement of
people involved.
6. Attach all consent forms, medical records and other pertinent data to this report.
_______________________________________________
President of the Michigan Tech Fund’s signature
6.2
___________________________
Date
FORM F4.0 – Airline Ticket Request
Accounting Services
224 Administration Building
1300 Townsend Drive
Houghton, MI 49931-2521
906/487-2242 Fax 906/487-2521
Michigan Technological University
Request for Advance of Funds
Name of Traveler:
__________________________________________
MTU ID Number:
__________________________________________
Department:
______________________________________________
G
If the traveler is not an
MTU employee, please
check this box.
TYPE OF ADVANCE BEING REQUESTED
G Airline Ticket
G Check
GDirect Deposit
In the amount of: ______________________
Airline Tickets for me, charged to MTU through:
I would like the ticket/check to be:
G Superior Travel
G Held for Pickup
G Sent to my Department
DESTINATION: _____________________________________________________________________________
DATE OF DEPARTURE:
___________________________
DATE OF RETURN:
___________________________
PURPOSE OF TRAVEL:
BENEFITS DERIVED FROM TRAVEL:
INDEX TO BE CHARGED: ____________________________
In consideration and certification of the advance funds, I will submit an employee travel expense voucher and
repay any excess funds within ten (10) days of my return unless otherwise authorized in writing by the controller.
I hereby certify that the advances requested are for reimbursable expenses expected to be actually incurred on
University business in accordance with University policies and procedures and not to be reimbursed by any third
party. If repayment is not made within the allotted time, funds may be deducted from a future paycheck.
Date:
_____________________
Signature: ____________________________________________
APPROVED BY: (Department head or higher)
Date:
_____________________
Signature: ____________________________________________
APPROVED BY: (President/Vice President/Provost)
Date:
_____________________
Signature: ____________________________________________
6.3
FORM F5.0 – Travel Expense Voucher
MICHIGAN TECH FUND
TRAVEL EXPENSE VOUCHER
TRAVELER’S NAME:
DEPARTMENT:
DESTINATION(S):
DATE / TIME OF DEPARTURE:
ADDRESS TO WHICH CHECK IS TO BE SENT:
DATE / TIME OF RETURN:
NAMES OF OTHERS ON TRIP:
PURPOSE OF TRIP:
NO. OF POOL CAR, IF USED:
ACCOUNT NUMBER:
ITEM
SUNDAY
MONDAY
TUESDAY
WEDNESDAY THURSDAY
SATURDAY
FRIDAY
TOTAL
Date >>
City for lodging >>
Daily meal per diem for city >>
BREAKFAST
LUNCH
DINNER
LODGING
COMMON CARRIER
TAXIS AND LIMOUSINES
ENTERTAINMENT*
PERSONAL CAR
REGISTRATION FEES
OTHERS - EXPLAIN
TIPS
TOTAL EXPENSES
EXPENSE OF PERSONAL CAR
FROM
TO
CASH SUMMARY
MILES
NO. MILES
TOTAL EXPENSES
RATE - c/mi
ADVANCES REC'D**
AMOUNT
DUE TRAVELER
TOTAL IS ABOVE
DUE MT FUND
VICINITY MILEAGE:
*attach supporting sheet
**include costs of airline tickets, registration fees, and other items paid for by the Fund and car rentals charged to the Fund.
CERTIFICATION FOR APPROVAL
I, the undersigned, hereby certify that the above listed expenses were actually incurred by me for
Michigan Tech Fund purposes as allowed by Tech Fund policies and procedures. No
reimbursement has been received or is anticipated from any third party and if received, will be
immediately forwarded directly to the Tech Fund.
Approved by dept. head or higher authority.
_________________________________________________
SIGNATURE OF TRAVELER
_____________________________________
DATE
_______________
DATE
_____________________________________
SIGNATURE
ACCOUNTING OFFICE USE ONLY
FUND
ORG
ACCOUNT
7300
INVOICE NO.:
CHECK NO.:
DATE:
_____________________
_______________________
_____________________________
AUTHORIZATION:
FORM F6.0 – Entertainment Form
6.4
_________________
FORM F6.0 – Entertainment Form
MICHIGAN TECH FUND
Entertainment Expense Voucher
Name of MTF host:
Name and location of facility:
Title:
Type of event:
G Breakfast
G Dinner
G Lunch
G Other
Date of event:
Describe event:
List the name(s) and affiliation(s) of those persons for whom expenses are being claimed. Attach additional sheets, if necessary.
Name
Affiliation
Account number
Number of persons served per receipt
Total
$
_______________________________________
Approval (Supervisor)
___________
Date
_______________________________________
Signature of employee/host
___________
Date
Instructions:
• All claims for reimbursements to an employee must be approved by the host’s supervisor.
• Receipts are to be obtained for all such expenses and are to be attached to this report if the employee/host paid for the cost of the event.
• The receipt is to show the date, the name of the facility where the event took place, the total charge, and the number of persons
represented in the charge.
ACCOUNTING OFFICE USE ONLY
FUND
ORG
ACCOUNT
INVOICE NO.:
___________________________
7300
CHECK NO.:
7325
AUTHORIZATION:
6.5
____________________________
______________________
FORM F7.0 – Day Travel Expense Voucher
MICHIGAN TECH FUND
TRAVELER
____________________________________________
DAY TRAVEL
DESTINATION(S):
____________________________________
____________________________________
DEPARTMENT:
___________________________________________
ADDRESS IN WHICH CHECK IS TO BE SENT:
DATE/TIME OF DEPARTURE
____________________________________
DATE & TIME OF RETURN:
____________________________________
NAMES OF OTHERS ON TRIP: ____________________________________
PURPOSE OF TRIP:________________________________________________
ACCOUNT NUMBER:
ITEM
SUNDAY
MONDAY
TUESDAY
WEDNESDAY
THURSDAY
FRIDAY
SATURDAY
TOTAL
INSERT DATE ===>
BREAKFAST
LUNCH
DINNER
Per Diem SUBTOTAL
COMMON CARRIER
TAXIS
ENTERTAINMENT*
PERSONAL CAR
REGISTRATION FEES
OTHERS - EXPLAIN
TOTAL EXPENSES
EXPENSE OF PERSONAL CAR (enter above where indicated)
FROM________________________________TO________________________________MILES_______________
TOTAL EXPENSES THIS TRIP:
FROM________________________________TO________________________________MILES_______________
$______________
TOTAL MILES_______________________ X _____ per mile =$ ____________________________
CERTIFICATION FOR APPROVAL
APPROVED BY SUPERVISOR OR HIGHER
I, the undersigned, hereby certify that the above listed expenses were actually incurred by me for University
AUTHORITY
purposes as allowed by University policies and procedures. No reimbursement has been received or is
anticipated from any third party and if received, will be immediately forwarded directly to the University. I
UNDERSTAND THAT CERTAIN EXPENSES MAY BE TAXABLE AND THAT THE APPLICABLE FICA,
FEDERAL, AND STATE TAXES WILL BE WITHHELD FROM A FUTURE PAYCHECK.
__________________________________
SIGNATURE
________________________________________________________
________________________
__________________________________
SIGNATURE OF TRAVELER
DATE
DATE
ACCOUNTING OFFICE USE ONLY
[
] PAY
AUDITED BY:________________________________________
6.6
DISTRIBUTION AND FUNDING OK: ________________
FORM F8.0 – Michigan Tech Fund Check Request
Michigan Tech Fund Use
Michigan Tech Fund – Check Request
Payee
________________________________________
Date
__________________________
________________________________________
________________________________________
Amount
________________________
Purpose:
Organization Number ____________
Account Number ___________
________________________________________
Requester
________________________________________
Supervisor (all requests)
________________________________________
Chief Financial Officer or designee
(requests greater than $5,000 but less than $25,000)
_______________________________________
President, Michigan Tech Fund or designee
(requests equal to or greater than $25,000)
(Accounting Use Only)
Date
___________________________________
Invoice #
________________________________
Balance
_________________________________
Check #
_______________________________
Authorization
6.7
___________________________
FORM F9.0 – Department Check Request
Michigan Tech Department Use
Michigan Tech Fund – Check Request
Payee
________________________________________
Date
__________________________
________________________________________
________________________________________
Amount
________________________
Purpose:
Fund Number:
_______________________________________
Fund Manager or designee (all requests)
_______________________________________
Department Head or higher (Chair, Dean, Director,
Vice President, or President, depending on the
reporting level of the Fund Manager) (requests equal
to or greater than $5,000 but less than $25,000)
_______________________________________
Vice President in charge of requesting area
(requests equal to or greater than $25,000 but
less than $100,000; group requests totaling
$25,000 or greater)
_______________________________________
MTU President (requests equal to or greater
than $100,000)
(Accounting Use Only)
Date ________________________________________
Coding ___________________________________
Invoice # _____________________________________
Check # __________________________________
Balance ______________________________________
Authorization ______________________________
6.8
FORM F10.0 – Michigan Tech Fund Fund Authorization Form
Michigan Tech Fund
Fund Authorization Form
The University employee(s) whose name(s) and signature(s) appear below have been delegated authority to
authorize documents and/or access information and check requests or transfer on the funds listed below:
Fund # _____________________________
Fund Name ______________________________________
Date _______________________________
Department ______________________________________
Purpose of Fund _____________________________________________________________________________
__________________________________________________________________________________________
Is the Fund designated for research-related donations? If so, check this box.
• Change of Fund Manager (complete this box only if a fund manager is being replaced)
Full name of outgoing fund manager __________________________________________________________
Signature of outgoing fund manager or supervisor ________________________________________________
• Fund Manager
Full name of fund manager __________________________________________________________________
Signature of fund manager_________________________________
M # ___________________________
Limitations, restrictions (if any) ______________________________________________________________
• Designee(s) (List one or more designees, as necessary)
Full name of designee ______________________________________________________________________
Signature of designee_____________________________________
M # ___________________________
Limitations, restrictions (if any) ______________________________________________________________
Full name of designee ______________________________________________________________________
Signature of designee_____________________________________
M # ___________________________
Limitations, restrictions (if any) ______________________________________________________________
Full name of designee ______________________________________________________________________
Signature of designee_____________________________________
M # ___________________________
Limitations, restrictions (if any) ______________________________________________________________
Please return completed form to the Michigan Tech Fund Finance Department.
For Michigan Tech Fund Use
Approved by
_______________________________________________________________________________________
Designated Michigan Tech Fund Employee for Interdepartmental Charges
Full name of designee _________________________________________________________________________________
Signature of designee ___________________________________________
M # ______________________________
Limitations, restrictions (if any) _________________________________________________________________________
6.9
FORM F11.0 – New Employee Orientation
NEW EMPLOYEE ORIENTATION
____
Welcome new employee
____
Explain history and purpose of the Fund
____
Introduce new employee to co-workers during tour of facility
____
Show new employee his/her work area (explain supplies, give keys to building)
____
Explain the purpose of the new employee’s department and his/her role
____
Show employee the site of the online policy manual and have employee sign the receipt of manual form to
acknowledge his/her intention to become familiar with the manual’s contents (Form F14.0)
Section II—General Information
____
Tell location of rest rooms
____
Tell location of lunch and break rooms
____
Explain work hours (define workweek, state overtime policy)
____
Explain break policy
____
Explain lunch hour (tell about restaurants in area)
____
Explain telephone policy
____
Explain smoking policy
____
Explain rules of dress, personal grooming
____
Explain housekeeping rules
____
Explain the Fund’s rules about absenteeism, tardiness
____
Explain safety procedures
____
Explain introductory period and progress reports (Form F13.5) at 3/6/9 months for new employee
____
Explain performance reviews (date for first review, frequency thereafter) (Form F22.0)
____
Explain pay procedures (time sheet, date of the first check)
____
Explain steps in discipline procedure (verbal warning, written warning, etc.) and specify actions that will
result in discipline
6.10
Section III – Benefits, policies
____
Complete Form I-9 (required by the Immigration Reform and Control Act of 1986)
____
Complete W-4 form for staff to claim payroll deductions
____
Send employee to Benefits Office for insurance information
____
Send employee to Tech Express Office for MTU ID card, if pertinent
____
Explain holidays
____
Explain vacation days
____
Explain sick-leave policy
____
Explain direct payroll deposit option
____
Complete Emergency Contact Form (Form F12.5)
Section IV – Question/review
____
Answer any questions employee has
____
Review necessary information (hours, paydays, sick-leave procedure)
I acknowledge that I have discussed the items checked above.
_________________________________________
_____________________________
Employee’s signature
Date
_________________________________________
_____________________________
Supervisor’s signature
Date
6.11
FORM F12.0 – New Hire Information
MICHIGAN TECH FUND
NEW HIRE INFORMATION
Employee name:
Street address:
City/State/Zip:
Social Security Number:
Telephone:
Gender:
Cell phone:
Birth Date:
Email:
Students:
Local street address:
City/State/Zip:
For Finance Use:
Hire date:
Employee number:
Hourly rate: $
Annual salary: $
In QuickBooks®:
Michigan New Hire Form sent:
6.12
FORM F12.5 – Emergency Contact Form
MICHIGAN TECH FUND
Emergency Contact Form
Employee name: ___________________________________________________________________________
I have designated the people below to be contacted in the event of my serious injury or illness. I
understand he/she will be informed as to the nature of the emergency and my condition, and asked, if
necessary, about my wishes regarding medical treatment, hospitalization, and transportation.
Emergency contact: ________________________________________________________________________
Relationship to employee: ___________________________________________________________________
Phone Number: ____________________________________________________________________________
Address: __________________________________________________________________________________
City, State, Zip: ____________________________________________________________________________
Alternate contact: __________________________________________________________________________
Relationship to employee: ___________________________________________________________________
Phone number: ____________________________________________________________________________
Address: __________________________________________________________________________________
City, State, Zip: ____________________________________________________________________________
* At least one of the individuals named above MUST BE LOCAL.
__________________________________________
Employee’s signature
_________________________________
Date
6.13
FORM F13.0 – Direct Deposit
MICHIGAN TECH FUND
DIRECT DEPOSIT
I hereby authorize the Michigan Tech Fund to initiate credit entries to my checking/savings account and
financial institution indicated below. I also authorize any necessary debit entries and adjustments for errors
to the same account.
This authority will remain in effect until the Michigan Tech Fund has received written notification from me
of its termination in sufficient time as to give MTF and the financial institution reasonable opportunity to act
on it.
I understand that my direct deposit will take effect no later than the second payday following receipt of this
form by the payroll office in order to allow verification of my account.
Name: _________________________________________
Date ________________________________
Signature _______________________________________
1 Financial Institution: ______________________________________
9 Savings
9 Checking
START
Account Number
Amount / Percent
A VOIDED CHECK (FOR CHECKING) OR DEPOSIT SLIP (FOR SAVINGS) IS REQUIRED!
2 Financial Institution: ______________________________________
9 Savings
9 Checking
START
Account Number
Amount / Percent
A VOIDED CHECK (FOR CHECKING) OR DEPOSIT SLIP (FOR SAVINGS) IS REQUIRED!
PLEASE STOP DIRECT DEPOSIT
Financial Institution: ______________________________________
9 Savings
STOP
Account Number
Effective Date
6.14
9 Checking
FORM F13.5 – Progress Report
MICHIGAN TECH FUND
NEW HIRE PROGRESS REPORT
PRELIMINARY ORIENTATION DATE
PERIODIC REVIEW DATES
(Within 2 weeks of start date)
(3/6/9 months)
Î
Ï
Ð
Name:__________________________________________ Position:_______________________________________
Department:_____________________________________ Date assigned to position: _________________________
The first months in a position represent a valuable learning period for all new employees. It is important all reports are
completed in a timely and thorough manner. If you have any questions or concerns, please contact the President of the
Michigan Tech Fund.
Excellent
Good
Satisfactory
Less than
satisfactory
Unacceptable
Job knowledge
Demonstrated commitment to
position (i.e., time, attendance)
Quality of work
Quantity of work
Flexibility and adaptability
Communication skills
Demonstrate ability to understand
and perform the job
Employee’s progress to date
Please answer all questions. All ratings below “Satisfactory” shall be supported with factual comments and/or
documentation in the space below. Please return within 20 days to the Fund’s Human Resources department where
all reports will be retained.
Comments: ____________________________________________________________________________________
______________________________________________________________________________________________
______________________________________________________________________________________________
Do you recommend this employee be retained?________________________________________________________
Supervisor’s signature:___________________________________________ Date:___________________________
This report has been discussed with me. My signature does not necessarily imply my agreement.
Employee’s signature:____________________________________________ Date:___________________________
6.15
FORM F14.0 – Receipt of Policy Manual
RECEIPT OF POLICY MANUAL
(found online at http://www.mtu.edu/giving/information/faculty-staff/pdfs/manual.pdf)
I have been shown how to access the Personnel Policies and Procedures Manual online and have either read it or
have had it read to me carefully. I agree that my employment is terminable-at-will, so that both the Michigan Tech
Fund and I remain free to end our work relationship. I understand that this manual has been prepared for the
information and guidance of employees working at the Fund. It is intended to cover the procedures, rules and
policies most often applied to our day-to-day work activities. Some of the information will change from time to
time since our policies are under constant review and are revised when appropriate. I understand that I will be
notified in writing of such changes.
I understand that there is no guarantee of employment made to any staff member, either expressly or
implied, in this manual.
_______________________________________________
Employee’s signature
__________________________
Date
_______________________________________________
Employee’s name (printed)
_______________________________________________
Supervisor’s signature
___________________________
Date
Receipt of Addendums
Title of Addendum
Date Received
Employee Signature
______________________________
______________
____________________________________
______________________________
______________
____________________________________
______________________________
______________
____________________________________
______________________________
______________
____________________________________
______________________________
______________
____________________________________
______________________________
______________
____________________________________
6.16
FORM F15.0 – Record Request
REQUEST TO EXAMINE PERSONNEL RECORDS
Under the Michigan “Employee’s Right to Know” Act
(Act 398, Public Acts of 1978)
Please fill out completely:
Date of request: ___________________________
Printed name of person requesting information: ______________________________________________________
Detailed description of personnel records requested (attach extra paper if necessary):
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
I request the right to: (check appropriate box)
Inspect
Make a memo, abstract, or handwritten copy
Receive a copy
I understand that the Fund has the right to charge a fee for the costs incurred in responding to my request for production
pursuant to its published guidelines on fees ($9.03/hour for labor and $.15/each for copies).
Signature of Requesting Person: __________________________________________________________________
Address: _____________________________________________________________________________________
Phone: ____________________________
6.17
This Side for Office Use Only
Will the copies of the personnel records be picked up by the requesting person?
(Note: Copies will not be mailed if the requesting person owes a fee for actual costs.)
Yes
No
If NO, state the address to which the records should be mailed:
Date by which the request must be responded to:
(Note: No more than five (5) business days after request is
made.)
Date by which the request must be responded to if there
is a written agreement to extend the time:
Request was made:
Orally
In writing
Estimated cost: $ ______________________________
Actual Cost: $ _______________________________
Payment received: $ ____________________________
Date payment received: ________________________
Date request filled: _____________________________
Date request denied:___________________________
If the request is not denied or fulfilled in total, explain those parts that were fulfilled:
Certified copy requested:
Yes
No
Date received: _______________________________
Signature of person requesting records
6.18
FORM F17.0 – Corrective Action Notice
CORRECTIVE ACTION NOTICE
Should an incident that requires disciplinary action take place, the form below should be completed.
Date:__________________________
Employee: ___________________________________________________________________________________
Department: _________________________________________________________________________________
First written warning: _________________________
Final written warning: ____________________________
Statement of problem (violation of rules, policies, standards, practices or unsatisfactory performance):
Prior discussion or warnings on this subject (oral, written, dates):
Statement of necessary corrective action to be taken:
Consequences of failure to improve performance or correct behavior:
Supervisor’s signature: _______________________________________
Date: ___________________________
Staff person’s comments (continue on reverse if necessary):
Staff signature:______________________________________________
Date: __________________________
MTF President’s signature_____________________________________
Date: __________________________
6.19
FORM F19.0 – Final Pay Agreement
FINAL PAY AGREEMENT
I understand that upon my separation from the Michigan Tech Fund, I am responsible for returning any equipment
or property issued to me, including keys. If I fail to return any such items, I agree that the Michigan Tech Fund may
withhold from my final paycheck an amount equal to the value of the unreturned items.
The following items have been issued to ___________________________________________________________
(Print employee’s name)
Item
Date of Issue
Date of Return
_______________________________________________
_________________
_______________
_______________________________________________
_________________
_______________
_______________________________________________
_________________
_______________
_______________________________________________
_________________
_______________
_______________________________________________
_________________
_______________
_______________________________________________
_________________
_______________
_______________________________________________
_________________
_______________
_______________________________________________
_________________
_______________
_______________________________________________
_________________
_______________
_______________________________________________
Employee’s signature
____________________________________
Date
6.20
FORM F20.0 – Exit Interview Checklist
EXIT INTERVIEW CHECKLIST
Use this combination checklist and interview form whenever an employee leaves employment at the Michigan Tech
Fund.
Employee:_____________________________________________
To be obtained from employee, if applicable:
___
Keys to building(s)
___
Copy of personnel policies
___
New address and telephone number
___
New employment information
___
___
___
Position:______________________________
Resignation statement
Credit cards
Other
To be discussed at MTU Benefits Office:
Extended medical coverage insurance plan (for COBRA requirements)
Life insurance
To give to employee:
___
Record of employment (sheet with dates of employment and position(s) held)
___
Expected date of final paycheck (including vacation pay, if applicable)
___
Other
Feedback:
What is your reason for leaving?
What did you like and dislike about the Michigan Tech Fund?
What did you like or dislike about your job?
Were you treated fairly? If no, please explain.
What suggestions could you offer to make this a better place to work?
Permission to release reference information:
___ I do ___ I do not give permission to release reference information regarding my employment with the
Michigan Tech Fund.
__________________________________________________________________
Interviewer’s signature and title
_______________________
Date
__________________________________________________________________
Employee’s signature
_______________________
Date
6.21
FORM F21.0 – Grievance Report
GRIEVANCE REPORT
Date:___________________________
Name: ______________________________________________________________________________________
Position/Title: ________________________________________________________________________________
Supervisor: __________________________________________________________________________________
Description of the problem:
I first reported this problem on: __________________________________________________________________
Steps I have taken to solve the problem:
________________________________________________________
Employee’s signature
_______________________________
Date
________________________________________________________
Michigan Tech Fund President’s signature
______________________________
Date
6.22
MICHIGAN TECH FUND
Performance Evaluation Form
Based on a review of goals, objectives, and the self evaluation, provide a summary performance rating.
Comments: ___________________________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________________________
The Performance Evaluation Form is undergoing revision.
Select one of the following:
o
o
o
o
o
Outstanding: Performance consistently and significantly above standards in virtually all areas; far exceeds normal expectations.
Exceeds Expectations: Performance well above standards in many important aspects; usually exceeds normal expectations.
Meets Expectations: Performance meets standards in all important aspects; good contributor.
Improvement Needed: Performance slightly below standards in some important aspects, but meets standards in others; performance generally acceptable but
improvement needed to fully achieve functional performance level.
Unacceptable: Performance below standards in a number of critical aspects; substantial improvement needed.
Note: An overall performance rating of “Unacceptable” or “Outstanding” must be supported with a written, attached justification.
_____________________________________ _____________________
Supervisor’s Signature
Date
I have read this evaluation, and it has been discussed with me. I understand that signing this evaluation does not necessarily mean I agree with all the information
in it or that I forfeit my right for review.
_____________________________________ _____________________
Employee’s Signature
Date
6.23
FORM F24.0 – Authorization to Transfer Sick Leave to the Voluntary Sick Leave Pool
AUTHORIZATION TO TRANSFER SICK LEAVE
TO THE
VOLUNTARY SICK LEAVE POOL
Employee: __________________________________________
Date: ____________________________
M #: ________________________________
I elect to transfer three days (24 hours) of my accrued sick leave to the MTF Voluntary Sick Leave Pool. I
understand that:
•
•
•
•
My election to transfer sick leave must be made only during the open enrollment period.
My total accrued sick leave balance will be reduced by three days (24 hours).
I cannot revoke or cancel my transfer.
I understand this donation has no tax consequences and is not deductible as a charitable
contribution.
I acknowledge that I have received a copy of the Voluntary Sick Leave Pool guideline procedures and
understand its provisions.
___________________________________________________
Employee’s signature
6.24
_________________________________
Date
FORM F25.0 – Request for Sick Leave from the Voluntary Sick Leave Pool
REQUEST FOR SICK LEAVE
FROM THE
VOLUNTARY SICK LEAVE POOL
(Must be accompanied by a physician’s statement)
Employee: _____________________________________________
Date: __________________________
I hereby request use of the Voluntary Sick Leave Pool for the following reason:
_____ Leave requested is a result of a catastrophic illness or injury suffered by me.
_____ Leave requested is a result of a catastrophic illness or injury suffered by a family member:
Name ________________________________________
_____
_____
Relationship ____________________
Resides in my household
Does not reside in my household, but is totally dependent upon me for personal care of
services on a continuing basis.
Date beginning Sick Leave from Pool ________________________________________________________
______
_____________________________________________________
Employee’s Signature
______________________________
Date
_____ Request approved
_____ Request denied
_____ Required documentation by a physician not provided
_____ Condition not considered catastrophic
_____ All earned sick leave not used
_____ Not a member of the Voluntary Sick Leave Pool
_____ Not a qualified family member
_____ 30-day waiting period has not elapsed
_____________________________________________________
Human Resources Coordinator’s signature
6.25
______________________________
Date
FORM F26.0 – Physician’s Statement
PHYSICIAN’S STATEMENT
I am applying for sick leave from Michigan Tech’s Voluntary Sick Leave Pool. In order to be considered eligible, I ask
that you complete the following:
Employee: _______________________________________________
Date: _______________________________
Family member name: ______________________________________
Relationship: _________________________
1. Description of illness/injury ______________________________________________________________________
________________________________________________________________________________________________
________________________________________________________________________________________________
_________
________________________________________________________________________________________________
2. Beginning date of condition ______________________________________________________________________
3. Prognosis for recovery___________________________________________________________________________
________________________________________________________________________________________________
4. Anticipated date of return to work _________________________________________________________________
5. Hours per day able to work_______________________________________________________________________
6. Other remarks _________________________________________________________________________________
________________________________________________________________________________________________
________________________________________________________________________________________________
________________________________________________________________________________________________
If this is a family member of the MTF employee, please note the extent to which the family member is dependent on the
employee for care. _________________________________________________________________________________
________________________________________________________________________________________________
________________________________________________________________________________________________
________________________________________________________________________________________________
_________________________________________________________
Employee’s signature
____________________________________
Date
_________________________________________________________
Physician’s signature
____________________________________
Date
6.26
FORM F27.0 – Petty Cash Voucher
6.27
FORM F28.0 – Petty Cash Reconciliation Worksheet
MICHIGAN TECH FUND
Petty Cash Form for (date): ______________________
FUND
ORG
ACCOUNT
PROGRAM
Starting Balance
AMOUNT
$
300.00
Total Expenditures
Cash on Hand
6.28
300.00
DESCRIPTION
FORM F29.0 – Scanned Signatures
MICHIGAN TECH FUND
Scanned Signature Authorization Form
Name: _____________________________________________________________________________________
Title:______________________________________________________________________________________
I hereby grant to the Michigan Tech Fund permission to use my scanned signature in the situations listed below:
_________________________________________
Signature
_____________________
Beginning Date
______________________
Ending Date
Authorized Uses of Scanned Signature: _________
____________________________________________________
___________________________________________________________________________________________
Exceptions for Use: __________________________________________________________________________
___________________________________________________________________________________________
Signer: Using a black pen, please sign your name three times below. If you use a shortened form of your name for
different types of correspondence, please give three examples of that form as well.
(Administrative Use Only)
Current Custodian
Beginning Date
Ending Date
____________________________________________
__________________
__________________
____________________________________________
__________________
__________________
____________________________________________
__________________
__________________
6.29
FORM F30.0 – Request for Leave under the Family and Medical Leave Act
MICHIGAN TECH FUND
Request for Leave
under the
Family and Medical Leave Act
Employee Name: ____________________________________________
Date: ______________________________
For what circumstance are you requesting this leave? (check one)
Birth or adoption of a child
Physical or psychological care for a seriously ill parent, spouse, or child
Placement of a foster child
Care of the employee’s own serious physical or mental condition
When do you expect leave to begin?____________________________________________________________________
Will this leave be intermittent? ____________ If yes, what do you anticipate the schedule for your leave to be?
__________________________________________________________________________________________________
__________________________________________________________________________________________________
Is your spouse an employee of the Michigan Tech Fund? ___________________________________________________
_____________________________________________
_____________________________________________
Employee’s signature
Supervisor’s signature
(Human Resources Use Only)
FMLA leave used in previous twelve months: ______________________
(weeks, days, or hours)
Balance of FMLA leave as of the first day of this leave period: ____________________ (weeks, days, or hours)
Medical certification?
_______________________
Third opinion?
_______________________
Second opinion? ______________________________
Date FMLA leave began: _______________________
Date to end: __________________________________
Comments: ________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
Authorization: ________________________________________________ Date: _______________________________
6.30
FORM F31.0 – Credit Card Purchase/Service Request
MICHIGAN TECH FUND
Credit Card Purchase/Service Request
Requester:__________________________________________________
Date: _______________________________
Amount: $ _________________________________________________
Items (attach additional sheets, if necessary): _____________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
Source: _____________________________________
Purpose: ______________________________________
_____________________________________
______________________________________
_____________________________________
______________________________________
_____________________________________
______________________________________
Charge to:
Operating Fund 7300
Fixed Assets 0999
Organization Number(s):
Account Number(s)
________________________
_________________________
(No organization number
necessary)
Account Number
150
_____________________________________________
Requester
_____________________________________________
Supervisor (all requests)
_____________________________________________
Chief Financial Officer or Designee
(requests greater than $5,000 but less than $25,000)
_________________________________________________
President of the Michigan Tech Fund or Designee
(requests equal to or greater than $25,000)
6.31
FORM F32.0 – Complaint of Discrimination
MICHIGAN TECH FUND
Complaint of Discrimination or Harassment
Name:__________________________________________________
Date: ____________________________
Address: ________________________________________________
Phone:___________________________
City: ______________________________________
State:____________
Zip: ______________________
Type of alleged discrimination or harassment:
_____ Race or Color
_____ Religion
_____ Age
_____ Height
_____ National Origin
_____ Disability
_____ Gender
_____ Weight
_____ Marital Status
_____ Familial Status
_____ Other (please specify) ____________________________________________________________
Summary of alleged incident: ___________________________________________________________________
___________________________________________________________________________________________
___________________________________________________________________________________________
Date(s) on which alleged incident(s) occurred: _____________________________________________________
Names of other employees who were involved: _____________________________________________________
___________________________________________________________________________________________
Who harassed or discriminated against you?
Name: _______________________________________________
Job Title: _____________________________________________________
Phone: ____________________
What action, if any, has been taken so far? ________________________________________________________
___________________________________________________________________________________________
What action, if any, do you suggest we take at this time?______________________________________________
___________________________________________________________________________________________
___________________________________________________________________________________________
Have you filed a complaint / grievance with any other agency? _________________________________________
If yes, with whom? ___________________________________________________________________________
If additional writing space is needed, write on the back of this form, or attach additional sheets.
___________________________________________
Signature of complainant
6.32