The Controller’s Office recently updated the “Gift Cards, Gifts, Prizes and Awards” policy number PAY910 found on the Controller website here.

These changes were made to provide better control for the issuance and distribution of incentive cards and to comply with tax reporting requirements.

Below are some of the policy requirements.

• Unless due to special circumstances, Illinois Tech no longer reimburses the purchase of gift cards and will only utilize the PNC card program administered by the Procurement Department.
• Illinois Tech employees who pick up cards from the Controller’s Office are personally liable for any lost or stolen cards or cards that are not reconciled within 30 days after pick up.
• The card recipient must sign an Understanding of Taxability (UT Form) to indicate whether or not they are an employee. For those cards given as gifts to employees, a Payroll Authorization Form (PA) must be provided to the Controller’s office by the person picking up the card.
• Cards given to a non-employee for participant support are taxable when amounts received during the calendar year total $600 or more. In this instance, a W-9 form completed and signed by the recipient must be provided to the Controller’s Office.
• Cards used for business expenses must have all transactions reconciled and all supporting documentation submitted to the Controller’s Office within 30 days of incurring the expenditure.
• Non-cash gifts with a fair market value of $50 or more will be considered taxable to Illinois Tech employees.

Contact Ali Baldwin (312.567.3334) or John Kirsits (312.567.3332) in the Controller’s Office if you have any questions.