Signatures are Required
As cash, gift certificates, or other property are distributed, the recipients must sign a Research Participation Receipt and Property Receipt Form to acknowledge receiving the distributed property.
Gift certificates are considered a cash equivalent, and must be handled and accounted for in the same method required for petty cash.
Retaining and Submitting Documentation - Property Purchased by Intramurals or Purchasing Cards
Cash, gift certificates, or other property cannot be purchased via Internal Billing (intramural). If the gift certificates, or other property were purchased by Purchasing cards, then a Research Participation Receipt and Property Receipt Form must be attached to the P-Card transaction in Workday.
Departments must keep the original form as part of the Workday transaction documentation and forward a copy to the Tax Office, taxoffice@iastate.edu or Attn: RPRF (Confidential) 2423 ASB, if the amount is $100 or more to meet IRS reporting required. Please include the Worktag, P-card transaction number, and date so that the Tax Office can trace each Form to the original Workday transaction.
Retaining and Submitting Documentation - Property Purchased by Petty Cash Advances
If the cash, gift certificates, or other property were purchased using petty cash, the Research Participation Receipt and Property Receipt Form must be attached to the electronic document used to clear the advance. Departments must keep the original form as part of the Workday transaction documentation and forward a copy to the Tax Office, taxoffice@iastate.edu or Attn: RPRF (Confidential) 2423 ASB, if the amount is $100 or more to meet IRS reporting required.
This page was last updated on May 23, 2023.