110B: Cash Advance

The following processes pertain to Cash Advances. Cash Advances typically relate to travel-related expenditures for situations which the employee requests a Cash Advance to pay for lodging or transportation. Cash advances are to be made only to employees.

Processes:

1. The requisition is prepared, including a vendor note stating "Advance." The requisition is approved and reserved.

2. A Limited Purchase Order (LPO) is prepared, approved, and reserved.
   (See 105; Purchasing Documents)

3. The LPO is printed and a copy is sent to Accounts Payable (A/P). A/P stamps the LPO with "Advance" and "Received," along with the date. Supporting documentation for Cash Advance LPOs is not necessary.

4. The amount to be paid is input into the CFS system by A/P with matching to the LPO and creating an invoice. The LPO is then stamped "Keyed" with the date.

5. The invoice is paid in the next check run and the LPO is stamped "Paid" with the date.

6. A/P fills out a Cash Expenditure Envelope, staples it to the check, and sends it to the College Fiscal Office using the cash bag delivery system.

7. The Cash Advance LPO is placed in the "Open Cash Advances" tickler file in A/P.

8. Each month, the College Fiscal Agent receives from A/P a form email titled "Open Cash Advances." This lists all the open Cash Advances for that college. This constitutes the only follow-up that A/P will provide. Each month's memo will include open Cash Advances that have not been closed out for the previous month.

9. Inquiries regarding open Cash Advances are forwarded to the appropriate Fiscal Agent.

10. The Fiscal Agent performs the following procedures for each Cash Advance transaction:

    • Receives and reviews for propriety, the receipts supporting the Cash Advance.

    • Reviews the account code on the cash receipts slip for accuracy for the money returned.

    • Reconciles the receipts plus any cash receipt for money returned to the Cash Advance amount.

    • Signs the Cash Expenditures Envelope indicating approval.

    • Places the receipts plus the cash receipt document in the Cash Expenditures Envelope and forwards to A/P.

11. The A/P Tech receives the Cash Expenditures Envelope, reveiws the receipts, attaches the envelope to the Cash Advance LPO from the "Open Cash Advances" tickler file, and has it filed in the Business Services file room.

7/7/98