- Expenditure Policy - 5.2 Cash Advances
Expenditure Policy - 5.2 Cash Advances
5.2 Cash AdvancesA Cash Advance is money paid to an employee in advance of a College business trip that will be applied toward actual travel expenses. Due to the availability of the Purchasing Card to employees, cash advances should only be:
- used when necessary
- used under special circumstances as approved by the employee’s supervisor
- be issued no more than 5 days in advance of the travel event
- limited to $200 for every 5 days of business travel
o Note: The Assistant Provost may approve exceptions to the dollar limit for Cross-Cultural trips; other exceptions for unusual circumstances must be approved by the area Vice President or the President.
A Cash Advance Request Form must be completed by the employee and signed by the employee’s supervisor before funds are obtained at the Business Office AR Counter. Requests without a supervisor’s signature will be denied. All Cash Advances will be recorded in the Accounts Receivable system and must be reconciled within 15 days of the employee’s return from the business trip. Employees should complete an Expense Report Form, obtain their supervisor’s signature, and return the form with receipts and/or excess cash to the Business Office counter. Employees who do not respond to notification of failure to report a Cash Advance on a timely basis will have the advance deducted from their next pay check. New cash advances will not be issued to an employee with an existing, outstanding cash advance. Any employee who fails to settle a cash advance will not receive any future cash advances.