Prepaid Card Program Updates and Reminders

BoA Replacement Options

The University is working swiftly to implement a new prepaid card program to ensure that researchers have options available to continue their compensation of study subjects. Some of the vendors currently in consideration are Greenphire, National Gift Cards, and Tango Cards.

Coming Soon: Gift Card Procurement via University Purchasing Cards

The Office of Sponsored Programs (OSP) and UNC Finance and Operations (Finance) are currently working on a procedure that would allow, for a limited time, the purchase of gift cards on University Purchasing Cards (P-Cards). In the coming week, guidance will be provided to campus on how to apply for a University P-card designated to purchase gift cards for study subject incentives.

Gift Card Procurement via Cash Advance

Departments can obtain cash advances to purchase gift cards to provide to study subjects. To ensure the continuity of research activities, please submit cash advance requests with enough time for processing, considering fiscal year-end deadlines.

• Advances funded on sponsored projects, follow OSP Operating Standard and Procedure 500.14 and use the forms located on the OSP Forms and Tools webpage.

Departments do not immediately need to begin the reconsent process through the UNC Institutional Review Board (IRB) to allow study subjects to accept gift cards purchased using cash advances. Reconsent should be planned during modifications or renewals of IRB protocols.

Deadlines for BoA Prepaid Card Closure

Friday, April 21

• Last day to submit Prepaid Card requests to add funds to projects in the PAT.
• Departments should only request amounts that can be reconciled before the end of the fiscal year.

Wednesday, May 31

• Last day to issue remaining prepaid cards to study subjects in the PAT.
• Departments should shred their inventory of unloaded prepaid cards.

Friday, June 30

• Reconciliations must be fully completed and posted in ConnectCarolina.
• Prepaid cards issued to study subjects continue to be valid for three years from the date of issuance.

Reminder on Reconciling Prepaid Cards

Funds must be reconciled per the current prepaid card process. The FY23 deadline for department-approved journal entries for cash advance/prepaid card reconciliations is June 23, 2023.

• Prepaid cards funded on sponsored projects must be reconciled using Form 307.2.4f.

Departments can run InfoPorte or ledger inquiry reports to determine their balances on general ledger accounts on 559520. Refer to the Quick Reference Guide to Finance Reports or for additional assistance, contact Cash_Management@unc.edu.