Gift Cards

Gift cards are considered as cash equivalents; as a result, it is important that units and departments within UCCS handle and track gift cards appropriately. Procedures regarding gift cards have been developed by the Procurement Service Center to be used by all campuses of the University of Colorado. To determine if your proposed use of a gift card is allowable, please review the PSC Finance Procedural Statement: Gift Cards.

In order to purchase a gift card, you must complete the following steps.

1. Complete the Gift Card Authorization Request Form
2. Attach additional documentation (if required per procedures, e.g. Recognition & Training)
3. Submit the completed form and documentation to the UCCS Controller's Office through email to AcctFund@uccs.edu.

Approval for purchase of gift cards must be granted by the UCCS Controller's Office prior to the purchase. Once approval has been granted, gift cards may be purchased using either a P-Card or a PO in CU Marketplace.

Expenses for the purchase of gift cards should be recorded in an account based on their intended use and/or purpose. 

To initiate a gift card program, the Gift Card Authorization Form must be completed in accordance with all relevant policies and procedures. All fields in the section titled “To Establish a New Gift Card Program” must be filled out. If any field is not applicable, please indicate “N/A” in the respective box.

• The SpeedType and account number provided must align with the intended purpose of the program. A program will not be closed until all associated charges have been properly allocated to the approved SpeedType and account code.
• Program end dates cannot exceed six months. If an extension is necessary, the appropriate documentation and rationale must be submitted for approval. Requests for extensions should be sent to acctfinc@uccs.edu and must include completion of the “To Modify an Existing Program” section of the Gift Card Authorization Form. All parties involved must sign the updated form.
• Gift card programs cannot extend beyond fiscal year end, unless they are initiated in June. At fiscal year-end, a modification form can be submitted for approval to extend the program.

The following individuals must provide their signatures on the Gift Card Authorization Form:

• The custodian who will oversee the gift card distribution.
• The fiscal manager at the organizational level, or the principal (if the fiscal manager position is vacant). These signatures may be delegated to another individual with email approval from the appropriate organizational level staff.
• A representative from the Controller’s Office.

Additional signature requirements include:

• If the program is using a SpeedType associated with funds 30, 31, or 32, approval from the Sponsored Projects Division (SPA) is required.
• If the program uses a SpeedType from a fund 34, the Campus Controller must also sign.

A completed W9 form is required for any gift card issued, regardless of the amount. However, exceptions are made for recognition and study subject programs where gift cards totaling under $100 per person per calendar year may be exempt. Please refer to the relevant policies for further details.

Throughout the duration of the gift card program, proper documentation must be maintained. Upon the program’s conclusion, all records must be submitted to close the program. Required documentation includes:

• Receipts for gift card purchases.
• A log detailing the distribution of the gift cards. A sample log will be provided. Include the information for each recipient including names, dates, signatures, and other relevant information.
  • Recipients must sign upon receiving their gift cards.
  • E-cards may substitute signatures with an email confirmation from the gift card provider indicating distribution.
  • If a signature is missed, two UCCS staff members may provide signatures, confirming that the recipient received the gift card.
• Record of the transaction entered in the appropriate SpeedType and account. Acceptable documentation includes a PDF of the financial detail report, or the journal entry number associated with the transaction. The Controller’s Office can assist in locating this information if needed.
• Any other relevant supporting documentation, such as emails, spreadsheets, or records related to the program.
• Reconciliation signatures: The final page of the log includes a reconciliation of distributed cards, which must be signed by the custodian and the organizational manager to confirm accuracy and completeness.

If there are any unused gift cards remaining at the conclusion of the program, and they cannot be returned, please contact the Controller’s Office for guidance on how to properly manage them.

Due to their cash equivalencies, Gift Cards should be handled in compliance with PSC procedures. The minimum requirements for internal controls are as follows:

Custody: All gift cards must have a designated custodian (a single individual) who maintains responsibility for purchase, security, dispensing, tracking, and replenishment.

Security: Gift Cards must be secured at all times (e.g. in a locked box inside a locked cabinet or drawer that is accessible only by the designated custodian).

Receipts: A receipt book must be maintained to provide a log of gift card issuances. Required information includes Recipient Name/ID Number, Date, Purpose of Gift Card, Serial Number, Payment Amount, and Signature of Recipient.

Audit Log: This log must tie the above receipt log (either by receipt number or gift card serial number) to the purchase of gift cards recorded in PeopleSoft Financials-the General Ledger (e.g. by Journal ID). This log will be used to audit the accuracy and adequacy of recordkeeping for gift cards.  

Reconciliation should occur either when gift cards are purchased or (at minimum) on a quarterly basis. Additional details regarding the process reconciliation may be found in the PSC Finance Procedural Statement: Gift Cards. The Controller's Office will periodically audit the records associated with gift cards to ensure compliance with PSC procedures. Inventory, receipts, and audit logs must be available for an unannounced audit.  

*Note, minimum safeguarding requirements for gift cards are subject to changes made to PSC Procedures.