| 2. How do I get a cash advance ? |
| Certain types of purchases may require or will be best completed with cash payments. In these situations, cash advances are available to make the purchase. This allows you to "borrow" the money from your account, incur the expense and submit the receipts and the portion of the unused cash back to the account, without having the burden of generating the cash from personal funds. When taking a cash advance for an event, you become personally responsible for this money. In the event that you cannot produce the proper receipts or do not settle the advance within the required time, your Bursar account can and will be billed for the outstanding amount. It is not our intent to deter you from taking cash advances but to alert you to the serious nature of this responsibility. |
| Generally, cash advances of $200.00 or less, need an advance request time of two to three days notice to the Organization Accounts Coordinator. Advances greater than $200.00 require notice of a least three days. It is recommended, however, that all advance requests be submitted as soon as it is known the advance will be needed. The cash will be given to the student as close to the date of the event as possible. Students are permitted one cash advance at a time. Seperate advances must be taken for each event. Advances must be settled within one week of the date the cash was received and by the person who initially signed for the advance. |
| For Non-Travel and Travel Advances up to $200, the following procedures are necessary: |
| 1. |
An On-line Cash Advance form is submitted by the appropriate officer. |
| 2. |
A confirmation of the receipt of the request and it's status is sent to the student and a mutually agreed upon time is established for pick up of the funds. |
| 3. |
The student obtains the funds from the Organization Accounts Coordinator at the agreed upon time. |
| 4. |
Expenditures take place according to the Cash Advance request and all receipts are kept. |
| 5. |
A settlement form is completed in the Student Accounts Office within one week of the date of the advance. |
|
| Travel and Non-Travel Advances over $200 - same procedures as above apply except that the student receives the funds from the Bursar's Office instead of the Student Organization Accounts Coordinator. |
| Special Notes: |
| *Advances for travel require the city and state to which the person(s) has travelled along with the names of the individuals in attendance. |
| *Advances spent on food at restaurants that serve alcohol must be settled with itemized receipts. |
| Examples of Cash Advances: |
| • |
For the purchase of food at the local grocery store |
| • |
To use for tolls and parking when traveling to a conference, athletic event. |
| • |
To take a speaker to dinner To purchase supplies from an outside |
| • |
vendor/business (ie. Office Max) |
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| !!! IMPORTANT STUFF !!! |
| *You may have only one advance outstanding and are held personally responsible for reconciling it within the week allowed. |
| *Receipts are required for all settlements of cash advances. |
| *Settlement of an advance must be completed by the person who initially signed for it. |
| UNDER NO CIRCUMSTANCES SHOULD YOU PAY FOR SERVICES RENDERED WITH CASH FROM A CASH ADVANCE. |
