Policy 1214: Non-Salary Cash Advances

Subject Area: Procurement/Disbursement
Responsible Office: Procurement and Payment Services
Sponsor:  Chief Financial Officer
Originally Issued: November 1998
Revised: March 31, 2003, February 2010, March 2014, December 2014
Refer Questions To: Ronald Welin, 773-702-4230

Purpose: To establish policy on advancing funds for University related business.

Policy

  1. Cash advances will only be granted, under limited circumstances as outlined below:
    • Students and post-doctoral fellows traveling on official University business
    • Student group travel
    • University employees on extended travel (more than 4 weeks) or archaeological expeditions (advances limited to three months of operation costs)
    • Human Subject payments
  2. Advances will not be issued:
    • For an amount less than $500 (with the exception of students)
    • More than 30 days prior to the planned usage begin date
  3. All extended operating advance requests over $25,000 must be signed by the appropriate Dean or Vice President.
     
  4. Any individual receiving a University advance is personally liable for any loss of the funds.  Unused advances must be returned to the University within 30 days after the need for the advance has expired.
     
  5. Any exception to this policy must be approved by the Associate Vice President for Finance.