Finance & Administration
Undergraduate Student PrizesLast updated: May 12, 2015
Procedures for Payments
The Lump Sum Payment Form is used to deliver monetary prizes awarded to students for recognition of achievement and excellence such as the most original honors thesis or an outstanding creative writing award. Payments for such prizes require approval of the Dean of Finance and Administration. The completed form should be mailed or hand-delivered to the Office of Finance and Administration.
These prizes are considered income and the appropriate taxes will be withheld from the award payment. To disburse the full amount of the prize to the student complete the section for Grossed Up Awards. The department will incur the cost of the prize plus applicable taxes.
Students receiving payroll payments through direct deposit will receive their prize the same way. An email notification will be sent when the funds have been deposited into their bank account. Student checks may be picked up at the University Cashier's Office.
Note: These prizes are different from awards for scholarships and fellowships. Scholarship and fellowship payments are made via the Non-compensatory form. Downloading Corporate Payroll forms now requires the use of your NetID.
See also: Non-compensatory Payments