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 Expense Report.)
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.
Securing the Advance
- An advance will be granted by first completing the Cash Advance Request, including signatures from the individual who will receive the advance and his/her supervisor. Please see instructions on the request form. The completed form must then be submitted in person to the cashier for cash or sent to accounts payable for a check. Checks will be issued through the normal accounts payable process.
- A request for an advance of $100 or more must be submitted to Accounts Payable one week prior to when the money is needed.
Settling the Advance
- The employee, student, and his/her supervisor will be responsible for settling the advance in accordance with this policy.
- If all advanced funds have not been used, they should be returned with the Expense Report to the cashier or accounts payable specialist 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 $50 or less, the employee may receive cash from the Cashier. Cash will not be sent through the mail.
- If the amount is over $50, 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 Expense Report form. Expenses can be documented through receipts or paid bills.
- 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.
