NJIT Finance Policies

Travel Policy
This policy pertains to faculty, staff and students who incur travel expenses while on university approved business. The university will reimburse travelers for reasonable, necessary, appropriate and approved travel expenses, as defined, while performing university business consistent with full compliance of applicable Federal and State regulations, grant and contractual obligations, and other university policies... more

Employee Business Expense Reimbursement Policy
This policy pertains to employees who incur business expenses on behalf of the University and require reimbursement for those expenses. It is designed to be fair and equitable to both the purchaser and the University, and is subject to all other College/Department policies. This policy applies to all business expense reimbursements regardless of the method of disbursement... more

Fiduciary Responsibility Policy
The Fiduciary Responsibilities policy pertains to all employees who are responsible for committing University funds, regardless of the funding source, and defines their responsibilities for encumbering, reviewing and approving the expenditure of University funds and business transactions. This policy provides further guidance regarding the delegation and assignment of authority to review and approve University expenditures. As such, the University relies on the integrity and sound judgment of its employees who have financial management responsibilities... more

Gift Card Policy
NJIT is a public research university and as stewards of public funds, ensures that all financial transactions meet the applicable State standards and University guidelines. These guidelines and procedures outline the process under which Gift Cards may be purchased and distributed using University funds. Due to the cash-equivalent nature of Gift Cards, appropriate administrative and fiscal controls are required... more

Pooled Endowment Fund Investment Policy
The goal of the long-term Pooled Endowment Fund of New Jersey Institute of Technology and the Foundation at New Jersey Institute of Technology is to provide funds for annual support of student scholarships and other donor designated purposes. The Board of Trustees of New Jersey Institute of Technology and the Board of Overseers of the Foundation at New Jersey Institute of Technology (collectively “the Boards” or “Boards”) seek to continue to grow the Pooled Endowment Fund through gifts and capital appreciation in order to fulfill its goal... more

Purchasing Policy
This policy pertains to University faculty, staff, and students who are responsible for the procurement of construction, goods and/or services required to conduct University business. The purpose of this policy is to ensure sound business practices, prudent use of University funds, and compliance with University policies while adhering to all applicable State (N.J.S.A. 18A:64E) and Federal Guidelines (OMB 2CFR200)... more

Timekeeping and Reporting Policy
Timekeeping records constitute the basis for the payment of wages as well as recording of University recognized sick, vacation, personal or other sanctioned leave usage. The purpose of this policy is to clarify the roles and responsibilities of all employees as it relates to timekeeping and reporting. This policy addresses compliance with applicable Federal and State laws related to accurate and timely reporting of time worked or leave taken in the University's official timekeeping system within Banner Self Service... more