Proper Usage of Internal Awards-Reminder

Internal Awards are a method to award funds to employees, or sometimes departments, for a specific purpose and time frame. The approved list of internal awards can be found in the Internal Awards How to Guide found on the Finance Training website under the Internal Awards header. The following internal awards are approved:

OUF Internal Awards, Departmental Awards, or Internal Awards are not intended and should not be used as a reserve or a holding account to avoid having funds swept at fiscal year end. The Budget Office and General Accounting will be reviewing all internal awards to ensure that they each have a purpose in keeping with the spirit of internal award use. If awards are found, we will reach out with any questions and to discuss. Any internal awards that were set up for a less than legitimate purpose will be closed. As a reminder, there is a designated source set up for repair & replacement reserves, so internal awards should not be used for this purpose.