Glossary | Business Affairs

Glossary

a | b | c | d | e | f | g | h | i | j | k | l | m | n | o | p | q | r | s | t | u | v | w | x | y | z | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9

Manual Payment: Out of cycle payroll processing to accommodate adjustments of a payroll payment or final pay.
Matching: A type of cost sharing, wherein a contribution to a sponsored project or program is pledged to match some portion of funds provided by the primary sponsor.

Matching contributions may be in any form acceptable to the sponsor, including cash and third party in-kind contributions.
Materiality Threshold: The value at which a transaction is considered to be significant to the financial records. OSU's materiality level is $300.
Matriculation Fee: New undergraduates are charged a one-time fee at the start of their first term at OSU. This fee provides access to a variety of OSU programs and services at no additional charge. Programs and services included in the fee include, but are not limited to, open house programs, START, CONNECT, Odyssey, pre-enrollment advising, course drop/add/withdrawal, and official transcripts.
Memorandum Of Agreement (MOU): An agreement sometimes used between public agencies.
Menu (FIS): A list of choices displayed on the screen to allow Banner FIS users to select a module, menu or form.
Merchandise For Resale: Businesses such as Housing, MU, Student Health Services, Printing & Mailing, and Physical Plant purchase materials that are inventoried and then charged out to University customers as services/products are provided.
Mid-Month Cutoff: The date specified as the last working day of the month for employees paid from mid-month to mid-month. Currently, the mid-month cutoff is the 15th of the month.
Minor Equipment (FASOM 08.04 A2): Equipment that is valued at less than $5,000 and will not be consumed in the course of business and lasts a year or more. Exceptions include books, periodicals and reference materials that are part of The Valley Library holdings or Potts Guin Library holdings, and property held for resale (e.g. bookstore merchandise).
Modified Total Direct Cost (MTDC): Total Direct Cost less exemptions. Exemptions are usually GRA Tuition Remission, capitalized equipment, land and building rentals, subcontracts in excess of $25,000 and participant support costs. MTDC is defined by the federal government.
Module: A BANNER term for a series of related functions or processes.
Monies: Money in any form: currency (coins and bills), check, wire transfer, credit card charge, ACH (direct deposit), other electronic funds transfers, etc.
Moving Expense Reimbursement: Expenses incurred for travel and moving when reimbursement is necessary to employ qualified new personnel. New employees teaching summer session only may be reimbursed for travel expenses associated with one round trip when reimbursement is necessary to employ qualified personnel. Advance approval by authorized campus personnel is required for new employees.
Moving Expenses: New employees may be reimbursed for house hunting and moving expenses when reimbursement is necessary to employ qualified personnel. The agreement to pay house hunting and moving expenses should be indicated in the new employee's letter of offer. New employees teaching summer session only, may be reimbursed for travel expenses associated with one round trip when reimbursement is necessary to employ qualified personnel. See OSU Travel Manual (pdf format) and FASOM section on Compensation -- Fringe Benefits -- Moving Expenses for details of allowable costs and account codes.