Honorariums and Royalties
Policy Number: FINA 2.13
Section: Administration and Finance
Title: Honorariums and Royalties
Date (Original): 08/30/2024
Date (Date of Draft version): 08/30/2024
Policy For: USC System
Procedures For: USC System
Authorized By: Executive Vice President for Administration and Finance and Chief Financial Officer
Issued By: University Finance - Controller's Office
Policy Description and/or Reason for Revision:
Updated to standard template. Under Purpose: • Provides a clearer explanation of honorariums and royalties. Definitions: • Defines "Payment Request." Under Policy Statement: • Offers more details on acceptable honorarium activities. • Explicitly states that honorariums cannot be paid with sponsored project funds (unless allowed). • Explains the rationale behind royalty payments. Under Payment: • Introduces Payment Request as the primary payment method. • Mentions the Payment Request Matrix for specific guidelines. • Explains the supplier registration process and required documentation. • Emphasizes tax reporting requirements for recipients. • Highlights the need for international payment consultation. Under Procedures: • Refers users to the Payment Request Matrix and Controller's Office for questions.
Deadline for Comments: 09/16/2024
Comment Contact Name: Kelly Epting
Comment Email: eptingk@mailbox.sc.edu