Use object code 666 when entering a requisition into the computer system for student cash awards.
Cash awards may be given to students when a Department of the College holds a contest and chooses to make the prizes monetary amounts. To receive student cash awards, please follow these steps:
1. Request a purchase order for the total amount of student cash awards to vendor #11050, “Student Awards Expense Acct.” Provide the following information on the request:
- Event
- College purpose of event
- Date(s) of event
- Number of awards
- Amount of each award
Send any required documentation to the Purchasing Agent.
2. Once you have received the approved purchase order, the Budget Manager signs the purchase order in order to authorize payment.
3. The original (white) purchase order is sent to the Business Office.
4. The receiving copy (yellow copy) of the purchase order is sent to the Accounts Payable Office. This can be done well in advance in order to insure that cash is available when needed. The purchase order will be held by the Accounts Payable Office until the week before the date the cash is needed and will be paid at that time.
Accounts payable checks are written on a weekly basis, currently, every Thursday. In order to insure this deadline is met, items to be paid must be received by the Accounts Payable Office by 11:00 a.m. Wednesday. Items are paid approximately one week prior to the item’s due date. Accounts payable checks are ready by 10:00 a.m. Friday.
5. On the date the cash is needed, the employee who requested the cash can go to the Business Office to sign for the cash and receive it. The cash is counted in the Business Office for accuracy.
If the Accounts Payable Office did not receive the purchase order for student award cash by the 11:00 a.m. Wednesday deadline, the student award cash will not be available at the Business Office. The employee requesting the cash can use their own funds to provide award cash to students. The purchase order is to be submitted to the Accounts Payable Office for payment. If the purchase order is approved after the date the cash is disbursed, a completed justification form is required to be attached to the purchase order before it can be processed for payment. When the purchase order is paid, the Business Office will have the cash on the following Friday. The employee can turn in the completed Cash Award Receipt Form in order to receive the cash. This will reimburse the employee for their money which was disbursed to the students for cash awards.
6. Student signatures are to be obtained as student cash awards are made. A Cash Award Receipt Form is used to obtain student signatures. As cash is given to the students, each student signs the Cash Award Receipt Form for the amount of cash received.
Click here for a Cash Award Receipt Form
7. Once the awards have been made, the employee disbursing the cash signs the Cash Award Receipt Form in order to insure that cash is accounted for.
8. Once the awards have been made, the completed original Cash Award Receipt Form and any excess cash is given to the Business Office. A receipt is provided for any money returned.
If all cash is not accounted for, the employee who received the cash is held personally responsible for the unaccounted for amount. This may also prohibit the department from receiving cash for student awards in the future.