Employees and Cash Advances
Cash advances for faculty, staff, and students of Lawrence University may be used when traveling to pay for expenditures that cannot be charged to the corporate card such as taxis, parking, tips, toll charges, etc. (If expenses will total less than $100, please use your own money instead of seeking an advance. Keep your receipts and submit them with the (green) Expense Reimbursement Form.) Instructions for form.
Advances may also be used to purchase goods from vendors that do not accept Lawrence’s corporate or purchasing credit card or a purchase order.
- An advance will be granted by first completing the Advance Request form, including signatures from the individual who will receive the advance and his/her supervisor. Please see instructions at the bottom of the Advance Request form, which is available from the accounts payable assistant. The completed form must then be submitted to the cashier for cash or to accounts payable for a check. Checks will be issued through the normal accounts payable process.
- Advances of more than $500 in cash or of specific denominations must be requested by 9 a.m. of the day prior to when the money is needed to allow the cashier to arrange for sufficient funds.
- The employee, student, and his/her supervisor will be responsible for settling the advance in accordance with this policy.
- The approval for the (green) Expense Report must have an original signature from both the employee and his/her supervisor. The Expense Report should be returned to the cashier or accounts payable clerk within 30 days following expenditure.
- If all advanced funds have not been used, they should be returned with the Expense Report to the cashier or accounts payable clerk within 30 days following expenditure.
- In the event that a balance is owed an employee, he/she should complete the expense report and the following will apply. If the amount is $250 or less, the employee may receive cash from the Cashier. Cash will not be sent through the mail. If the amount is over $250, a check will be issued through the normal accounts payable process.
- Expenses should be allocated and coded to the appropriate account numbers.
- Documentation of expenses must be attached to the completed green Expense Report form. Expenses can be documented through personal charge card statements, receipts, paid bills or in some cases, cancelled checks.
- Notification will be sent on outstanding advance balances of over 30 days to the employee and his/her supervisor as needed.
- Advances outstanding after 90 days from the date of the advance may be taken out of the employee’s pay. Student balances may be applied to individual student accounts. Should this occur, no further advances will be awarded.
- If an employee leaves Lawrence University without resolving outstanding advances, the balance may be charged to his/her final pay. Student balances may be applied to individual student accounts.
