Prizes, Awards and Gifts (including gift cards)
For any prize, award or gift, including gift card purchased on a Pcard, the following information/documentation is required to be included in the audit package, regardless of the amount:
- Name of recipient and whether the recipient is a University employee or student. If the recipient is a University student you will need to determine if the student is also a University employee.
- Business purpose of the item
IF the prize, award or gift is over $40 or a GIFT CARD for any AMOUNT is purchased on a Pcard, then the following documentation is required:
- For University employees (including students employed by the University) a PAF indicating the amount of the item in section 4. The individual will then be taxed on the value of the item received.
- For individuals not employed by the University the recipient's name, home mailing address and social security number must be provided.