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Policies and Procedures

Policy 706 – Student Service Awards

Effective
August 1, 2010
Last Updated
October 6, 2014
Last Reviewed
October 6, 2014
Responsible University Officer
Director of Systems and Operations
Responsible Unit
Systems and Operations

Policy Statement

These awards are to provide financial assistance to students during a period of training. They require the student to perform some type of service as determined by the awarding agency. These stipends will be paid on accounts 568710, 569720, 568740 and 568760.

Payment for these awards is generated by a Campus Voucher and processed by Disbursement Services. A federal tax form 1099MISC will be issued to the student for this award.

The service awards data from the campus voucher will be uploaded to GradStar as "read only" for purposes of processing tuition awards. GradStar is a comprehensive system to collect and report all funds, especially departmental awards, given to a student in support of their attendance at the University.

Reason for Policy

The policy defines the responsible parties for distributing payment and tax reporting.

Exclusions

None

Special Situations

None

Procedures

  • 706.1 - Paying Student Service Awards

Additional Information

Frequently Asked Questions

Q: Is it possible to issue service award payments through electronic deposit?
A: Yes. This is the preferred payment method for all individuals paid by the University.

Q: If a student receives a service award from my department and another department, will these payments be issued separately or as one check/deposit?
A: All payments to one vendor/individual are combined as a single payment.

Q: Is my student service award something I have to report to the IRS and pay taxes on?
A: You will receive a 1099MISC for the amount you have been paid in a calendar year. You and your tax accountant will have to determine if any taxes are owed.

Related Data

Internal Revenue Service, Tax Benefits for Education publication
GradStar (including training information, User Guide and Frequently Asked questions)

Contacts

SUBJECT CONTACT TELEPHONE FAX E-MAIL
Student Service Awards Systems & Operations 919-843-5098 919-962-2356 operations_team@unc.edu

History

Revised:
October 1, 2014: Updated Starlight to GradStar; updated campus voucher references and account numbers in Policy Statement.
August 1, 2010