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Scope

This policy outlines the process for authorization, documentation, and physical security over Gift Cards.

Reason for Policy

To ensure proper controls are in place for the appropriate authorization, documentation, and safe keeping of Gift Cards.

Policy Statement

Gift Card purchases are allowed to the extent they are governed by an established program and the expense is reasonable and necessary to carry out the mission of the University. Gift Cards may only be purchased, received, and distributed through an established program.  The use of Gift Cards outside of the below programs is prohibited unless approved by the campus accounting office.

• Employee awards
• Payments to research subjects
• Awards and prizes

Gift Card purchases must be approved by the Program Administrator with a purchase plan.  All Gift Card purchases will be routed and fulfilled through the Show-Me Shop or made through a campus bookstore.  Gift Cards may not be purchased by any other method, unless approved by Supply Chain (in advance of the purchase).  Each program will maintain up to a maximum Gift Card inventory sufficient to fund a 60 day cycle of payments or $500, whichever is greater.  When purchasing through a campus bookstore, documentation must be provided to the bookstore of the approved Gift Card program.  The campus accounting office shall be notified of any purchases of Gift Cards on a Gift Card program.

Each program maintaining cards should designate a Gift Card Custodian responsible for the card’s safekeeping.  Cards should be treated as cash, and kept in a locked and secure location until they are distributed.  The Custodian should only distribute cards upon request of the Program Administrator for within the guidelines established for the applicable program. 

A separate person from the Program Administrator and card Custodian should keep a record of all card purchases and distributions by individual card.  The log should have a separate line for each card.  Once purchased and received, the cards should be logged with the following information:

• Date received or purchased
• Vendor
• Amount of card
• Card serial number or other unique identifying number

If the Gift Cards are mailed to the recipient, the Record Keeper and Custodian (separate individuals) should verify the card is mailed to the proper address for the recipient. 

Once distributed, the following information should be logged for employees:

• Employee ID
• Name
• Dollar amount of card
• Date of distribution
• Card serial number or other unique identifying number

Upon distribution, the following should be logged for non-employees (unless confidentiality is required): 

• Tax ID number
• Name of Recipient
• Permanent Mailing Address
• Date of distribution
• Dollar amount of card

An exception is made for confidential payments.  The confidentiality exception only applies to Institutional Research and Planning (IRB) approved programs where confidentiality is necessary for the study, and the total value of the Gift Card must be below the IRS reportable income, which is currently set at $600.  Exceptions are only granted by the campus accounting office.  Upon distribution of Gift Cards given for confidential research, the following should be logged:

• An assigned unique identifying number for the participant
• Date of distribution
• Dollar amount of card

The Gift Card Log & Receipts Form can be used to assist with the documentation requirements.  All logs should follow University security policy related to retention of Tax ID number and other