As a reminder, the closure of the Bank of America (BoA) prepaid card program is forthcoming on June 30, 2023. Below are reminders to prepare for the transition. Please also see the April 14 Finance memo for more information.
Deadlines for BoA Prepaid Card Closure
Wednesday, May 31
- Last day to issue remaining cards to study subjects in PAT.
- Departments should shred any unloaded prepaid cards.
Friday, June 30
- Reconciliations must be fully completed and posted in ConnectCarolina.
- Cards issued to study subjects are valid for three years from issuance.
OVCR Procurement of Gift Cards
For a limited time, the Office of Sponsored Programs (OSP) and Office of the Vice Chancellor for Research (OVCR) have a process to purchase gift cards on behalf of departments. Requests for gift cards for study subject incentives may be submitted here.
Coming Soon
TANGO Prepaid Card Pilot
The pilot program has begun. More information on a campus launch will be communicated shortly.
Department P-card for Study Incentives on Sponsored Projects
Applications will open soon for this program and more details are forthcoming. This program is available only for studies funded as a sponsored project. This new P-card type will conform to all the same guidelines established in the University P-Card Handbook, with the exception that it is only allowable to purchase gift cards for study incentives reconciling to a sponsored project. Those departments or study coordinators wanting to acquire a P-card designated for purchasing gift cards for sponsored project study incentives should complete the University P-Card Application Form and P-Card Accountholder Training. If you are a current P-card holder, you do not need to retake the training to apply for this new card. For this initial application phase, the submission process will be managed solely by OSP and the online request form will be available Friday, June 2.
- Applications received between June 2 – 15 will be reviewed and processed with P-cards available to pick-up by June 30
- Applications received after June 15 will be processed after July 5.
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.
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.
Get Help
- For urgent or immediate needs to acquire gift cards for issuance to study subjects on approved IRB protocols, please contact OCT@unc.edu.
- For questions or assistance regarding the existing prepaid card program or the PAT, please contact prepaidcards@unc.edu.
- For broad questions or reporting needs on cash advances, please contact Cash_Management@unc.edu.
- For specific questions on prepaid cards or cash advances funded on sponsored projects, please contact SponsoredPrograms@unc.edu.