Release Time


Table of Contents


Guidelines

Release time is a procedure typically associated with a research grant whereby a faculty· member is "released" from regular duties to work on the grant. Release time can be either cost sharing or "sponsor release time. Cost sharing is a non-financial transaction representing contributed time or materials to a grant. Sponsor release time represents a financial transaction that charges the grant for a percent of salary and benefits and credits the salary-paying fund. These guidelines address sponsor release time.

Reason For The Guidelines

The purpose of these guidelines is to assist departments in processing and accounting for release time appointments.

Release Time Guidelines

  • Release time credits should be applied to the appropriate fund within the General Fund (017XXX), or in the case of faculty paid from non-General funds, to the fund where the faculty is appointed.
  • The credit will be for both salary and benefits.
  • The faculty member's department is responsible for initiating the release time appointment.
  • The department and college approve release time appointments.
  • The OSU Research Foundation is responsible for processing the release time appointment and charging the grant and crediting the department's fund.
  • Each college can establish its own guidelines for the internal distribution of release time dollars.

Accounting for Sponsor Release Time

Appointments:

  • Release time credits for faculty appointed to main campus general funds, 011000-014999, should be accounted for in the university-wide release time fund, 017000. Use of the department's five-digit organization number with the release time fund number will result in a financial statement for that chartfield combination.
  • Release time credits for faculty appointed to one of the extended campuses should be accounted for in the release time fund assigned to that campus: Lima - 017006; Mansfield -017007; Marion - 017008: Newark - 017009; ATI - 017010.
  • Release time credits for faculty appointed to non-general funds should be accounted for in the fund from which the faculty member is paid.
  • Appropriate personnel accounts should be used for each appointment type, i.e.,
  • Nine month faculty - Account 60101
  • Twelve month faculty - Account 60102
  • Unclassified staff - Account 60103
  • Classified staff - Account 60104
  • Graduate students - Account 60105
  • Undergraduate students - Account 60106
  • Release time appointments require the use of one of the funds cited above. The other chartfield segments such as program and user defined can be used at the discretion of the department.
  • If the faculty member has a split appointment, release time credits can be distributed at the discretion of the department.
  • If the faculty has appointments in several colleges, the deans must agree on the assignment of release time credits.
  • OSURF form, "Release Time Appointment," should be used for release time appointments.

Budgets

Budgets for release time cannot be established in the GFSA ledger. If a department wishes to establish a release time budget, the Plan ledger must be used. (Additional information concerning budgeting for release time should be directed to Resource Planning and Institutional Analysis.)

Release Time Financial Reports
  • Release time credits for salary and benefits and release time debits (supplies, personnel, etc.) will be accounted for in the departments release time fund and appear on report GLU 0004OS-91 .
  • The name of the released faculty member(s) and the months released are included in the journal line description field on the GL detail report GLU0004OS-91.
  • Year-end budget balances in release time funds (positive and negative) carry forward to the following fiscal year.
  • Release time credits plus carryforward should be greater than expenditures to avoid a deficit in the fund.

Gifts and Gift Processing Introduction

Gifts and donations are received throughout the year either by a department or directly by the Office of University Development. Gift receipt and gift processing follow very specific guidelines as outlined below.

Reason For The Policy

All departments have an obligation to process gifts in accordance with university policy for the purpose of ensuring good donor relations and to comply with current tax laws.

Gifts Policies

Gifts: The Office of University Development has the responsibility for soliciting and administering all gifts and grants from individuals as well as gifts to the University's endowment. Gifts and donations are voluntary and irrevocable transfers of money or property made by a donor without expectation of or receipt of direct economic benefit or any other tangible compensation from the donor. All funds acquired according to the terms of this definition must be deposited with the Office of University Development so that the donor can receive the appropriate acknowledgement and tax receipt.

Donor Relations: The Office of University Development processes and acknowledges all gifts to the Ohio State University and the Ohio State University Foundation. Certain gift levels qualify donors for the Presidents Club or other forms of recognition. The university must maintain centralized gift records to ensure that this recognition is provided to all eligible donors. Such records are also necessary to provide accurate information for tax purposes.

Tax Compliance: Recent changes in the tax laws underscore the need for centralized gift processing. According to the tax codes, the university must provide written acknowledgements for all gifts that are $250.00 or more. Donors must maintain these acknowledgements in their files to claim tax deductions for their contributions. Other changes in the tax laws impose reporting requirements on fundraising events such as dinners and golf outings. When departments process gifts outside the Office of University Development, there is no assurance that these requirements have been met.

Penalties

Penalties: Administrators who do not follow university policies on gift processing may be subject to various penalties. According to the Office of Legal Affairs:

" Failure to follow established university policies for the handling of funds may result in personal or criminal liability for those funds should loss occur. In addition, university employees who intentionally circumvent established university gift processing policies may be subject to university discipline for those actions."

Questions concerning gifts and gift processing should be directed to the Office of University Development. Questions concerning tax implications should be directed to the Division of Accounting, tax coordinator.


Revised: November 23, 2006