Payments and Reimbursements

Independent Contractor Checklist

The Internal Revenue Service and the Maine Department of Labor requires the College to classify each worker as an employee or and independent contractor.

The Contractor Checklist form isrequired and needs to be complete and submitted along with the Colby Contract.

If you have questions about the checklist or questionnaire please contact Ruben Rivera x4127 or Richard Nale x5506

Independent Contractor Checklist

Independent Contractor Questionnaire

 
Employee Recognition Award Policy
On occasion, departments may issue gift cards to employees in recognition of special events. The value of any gift an employee receives above $25 must be reported on an employee’s W-2. The Employee Recognition Award Form will need to be completed in full and approved before a gift card can be issued. The completed form must accompany any request for reimbursement to Accounts Payable and be submitted to Payroll (if gift is >$25).
 
Faculty and Staff Reimbursements

Reimbursement under $75.00 will be given in cash at the cashiers window.  A check will not be processed.  Please download the following form, complete it and bring to the cashiers window with the appropriate documentation (if necessary).  Make sure the form is filled out with a detailed description of the reimbursement and full account number.

FORM - REIMBURSEMENTS UNDER $75.00 (3 forms per page)

Reimbursements totaling $75.00 or more are normally processed through ACH direct deposit. 

ACH Direct Deposits are processed on Monday's and Wednesday's.  A confirmation email will be sent from the Accounts Payable Office once the ACH Direct Deposit has been initiated.

Reimbursements must have a Check Requisition or a Travel and Entertainment Voucher EXCEL version attached with all hotel receipts and all other receipts over $75.00, detailed description of reimbursement (Colby business purpose) along with approval signature and full account number (fund, center, object code and project code -if necessary).

Enrollment form for  ACH Direct Deposit - please download the form and send to Accounts Payable.

***Note - ACH Direct Deposit is different than Payroll Direct Deposit**

 

 
Employee Spouse Reimbursment Information

 Expenses incurred for any accompanying spouse are generally considered personal in nature except on those occasions when the attendance of a spouse at an event furthers the business interests of the College. In these cases, the travel is to be authorized, in advance by completing the Spouse Reimbursement Form and approved by the President or the appropriate Vice President prior to the travel date.

Current IRS regulations require that amounts paid by an employer for spousal travel expenses be included in the employee’s taxable income and reported on Form W-2 unless the spouse’s presence on the trip serves a bona fide business purpose. Departments should consult with the Office of Financial Services prior to making commitments to reimburse for spousal travel as the reimbursement may be taxable to the employee. Expenses incurred for other individuals or dependents (such as children) that accompany a traveler will be included on the employees Form W-2.
 
Paying an Outside Source (Vendor, Guest Speaker, Service Provider)

The Accounts Payable office processes checks on Thursdays.  All invoices and requests for payments must be received by Tuesday 12:00 p.m.  These must have an approval signature along with the complete account number. 

The Check Requisition form is available - DOWNLOAD 

 

For all new vendors please download  IRS FORM W-9  to be completed by the vendor.  We must have this completed form before payment can be processed. 

INDEPENDENT CONTRACT FORM-  payment for services $4999.00 and under

INDEPENDENT CONTRACT FORM -  payment for services $5000.00 and up