| As communicated in the , the closure of the Bank of America (BoA) is forthcoming on June 30, 2023. Below are updates and reminders as you prepare for this transition. Please also see the聽 for more information. |
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Coming Soon: Gift Card Procurement via University Purchasing聽Cards
The (OSP) and (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. |
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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聽submit cash advance requests with enough time for processing, considering聽fiscal year-end deadlines.听
- Advances funded on sponsored projects, follow OSP and and use the forms located on the .
Departments do not immediately need to begin the reconsent process through the (IRB) to allow study subjects to accept gift cards purchased using cash advances.听Reconsent should be planned during modifications or renewals of IRB protocols. |
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Deadlines聽for聽BoA Prepaid Card Closure
Friday, April 21
- Last day to submit 聽to add funds to projects in the聽PAT.
- Departments should only request amounts that can be reconciled before the end of the fiscal year.
Wednesday, May 31
- Last day to聽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.
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Reminder on Reconciling Prepaid Cards
Funds must be reconciled per the current prepaid card . 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聽.
Departments can run InfoPorte or ledger inquiry reports to determine their balances on general ledger accounts on 559520. Refer to the 聽or for additional assistance, contact Cash_Management@unc.edu. |
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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.
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