Housing Allowance and President's Residence
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Effective Date: June 2012 |
Policy Contact: Jim Fish |
Purpose
Clarkson University has established the following procedure to provide a clear understanding of housing costs and to ensure sound fiscal responsibility with University funds related to housing allowance and President's Residence.
Procedure
In general, the University does not provide housing allowances to its employees. If, however, these are provided for in an employee contract or agreement, these amounts are considered taxable income to the employee in most cases. These agreements must be approved by the Chief Financial Officer. If reimbursement is to University Cabinet level staff would require approval by the President.
The Foster House is an on-campus residence provided to the President of the University. It is furnished for the convenience of the University and the President is required to accept this housing as a condition of his/her cvmnployment. The value of this residence furnished to the President is excluded from gross income.