ASA uses the following guidelines when determining how to properly report cash and non-cash awards and gifts. ASA will report the details to the applicable offices outlined below:
| Recipients | *Cash Awards | Gift Cards
|
Awards of non-cash items (Plaques, Trophies, etc.) |
|---|---|---|---|
| STUDENT RECIPIENTS: |
All monetary awards to students will be posted to the recipient’s Bursar account through the Loans and Scholarships office 308 Shields Building 863-2585
Cash Award/Gift Form Required
|
Gift cards $100.00 or more are reported only if the student is a PSU employee: The dollar amount is posted as an award through the Loans and Scholarships office to the recipient’s bursar account. Check Request form is required.
|
The value of a non-cash award item valued at $425.00 or more is reported to the payroll office in the James Elliott Building (if the student is a PSU employee) OR the Loans and Scholarships office in 308 Shields Building (if the student is not a PSU employee). Check Request form is required. |
|
PENN STATE EMPLOYEE RECIPIENTS (STAFF OR FACULTY): |
All monetary awards to employees are processed and reported to the Payroll office. 101 James Elliott Bldg. 865-7621 Recipients will receive these awards with their monthly pay, with taxes already taken out. Cash Award/Gift Form Required |
Gift cards of $100.00 or more: The dollar amount is reported to the Payroll office. 101 James Elliott Building 865-7621 The appropriate taxes will be taken out of the recipients’ monthly pay. Check Request form is required.
|
The value of a non-cash award item valued at $100.00 or more is reported to the Payroll office for proper tax reporting in 101 James Elliott Bldg. Check Request form is required. |
|
NON-STUDENT/ NON-EMPLOYEE RECIPIENTS: |
Cash award between $1-$599: check is processed by the ASA office. No reporting is necessary. Cash award $600 or more: check is processed by the ASA office. The dollar amount is reported to Accounting Operations. Cash Award/Gift Form Required. |
Gift card recipient of $600.00 or more for non-PSU employees/non-student recipients: The dollar amount is reported to Accounting Operations. An NEI, W-9 and a Check Request form is required.
|
Recipient of non-cash awards of items valued at $600.00 or more for non-PSU employees/non-student recipients: The dollar amount is reported to Accounting Operations. An NEI, W-9 and a Check Request form is required.
|
*Organizations should NOT pay cash directly to recipient and then seek reimbursement.
NOTE: The recipient’s name and PSU ID# must be listed on the Check Request form for all gift cards and non-cash award items $425 or more if the recipient is a student or a Penn State employee.