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Policy 5406 – Temporary Cash Advance Policy and Procedures

Effective Date: 2/20/2004

Responsible Office: Office of the Comptroller


This policy outlines the University rules and procedures for the proper handling of
temporary cash advances authorized to various University departments by the Office
of the Comptroller.

Policy:

  1. Temporary cash advances are used to provide cash to University departments for one-time,
    annual, or quarterly special events or group travel.

  2. Only University employees (full, part-time, and student) are permitted to handle the
    temporary cash advance funds.

  3. Access to the temporary cash advance should be restricted and a custodian should be
    assigned as the responsible party for the advance. The cash must be safeguarded at
    all times.

Procedures:

  1. If a department demonstrates a need for temporary cash funds, the department may request
    a temporary cash advance by submitting a written request or purchase requisition to
    the Office of the Comptroller. The request should fully explain the department’s need
    for a temporary cash advance, as well as designate an appropriate University employee
    as custodian of the advance. If the advance is required for travel, the dates of travel
    and a copy of an approved travel authorization must be included. The request must
    be approved by the department and appropriate dean or division head (if required).

  2. The written request or requisition should be submitted to the Office of the Comptroller
    no later than 10 days prior to the event or travel.

  3. The Office of the Comptroller will issue a check to the custodian of the temporary
    cash advance prior to the event or travel. A due date for repayment of the advance
    will be indicated on the paperwork accompanying the check.

  4. Within two working days of the event or travel, all remaining cash should be returned
    to the Cashiers’ Office as a partial repayment of the advance.

  5. A purchase requisition or travel expense account for reimbursement of expenses incurred
    should be submitted by the department to the Office of the Comptroller in a timely
    manner. A reimbursement check will be issued to the employee.

  6. When the reimbursement check is issued to the employee by the Office of the Comptroller,
    the remainder of the advance must be paid immediately at the Cashiers Office. The
    advance should be paid in full or a copy of the travel expense account/purchase requisition
    should be received by the Office of the Comptroller by the assigned due date. If a
    temporary cash advance is not repaid in a timely manner, subsequent requests for advances
    may be denied.

  7. A department should immediately contact the Comptroller, University Police, appropriate
    Dean or Division Head, and the Office of Internal Audit if temporary cash advance
    monies are found to be missing, or if there is suspicion of theft or diversion of
    funds.