Requesting and Reconciling a Cash Advance

Requesting a Cash Advance:

Cash advances are not allowed unless one or more of the following circumstances apply:

• Travel will extend longer than fourteen days without return to employee's campus or University location.
• Destination is such that service providers (food, lodging, auto rental, etc) do not honor the University corporate charge card, (example, cash based economy).
• Traveler will be paying for all business related expenses for a group consisting of 2 or more individuals.
• Cash for research subject payments.

Cash advances are limited to $50 per day, plus $100 per trip, per person, up to the estimated expenses. The University does NOT provide cash advances for airfare. Requests for cash advances are limited to a six- month period of time, i.e., trip from/to dates may not exceed six months. For trips of longer duration, multiple cash advance requests are required.

Process a Travel Authorization and a Cash Advance in the financial system and submit for approval(s). Print the Cash Advance Report, obtain traveler's signature and fax to Disbursement Services for approval and imaging. A cash advance constitutes a promissory note and payroll deduction authorization. Unspent cash must be returned within 15 days of the scheduled cash advance end date.

Advances will be mailed to the traveler's home address or directly deposited into designated bank account. If a cash advance is needed immediately, a Special Handling form must be completed and attached to Cash Advance Report and submitted to Disbursement Services.

Reconciling a Cash Advance:

Employees accounting for a cash advance must complete the Employee Expense Worksheet (UM 1612) to document their expenses within 15 days of the scheduled advance end date. Employee signature is required on the worksheet. Receipts and other support documentation are attached to this worksheet and submitted to the department preparer for processing. Original itemized receipts are required for all expenses of $25 or more, except for meals. Receipts should be detailed vendor receipts rather than general charge card transaction slips.

To Ensure Accurate Reconciliation of a Cash Advance:

Preparer:

• Processes an Expense Report in the financial system using the information supplied on the Employee Expense Worksheet and receipts.
• Selects Expense Report, "Travel Authorization" option, and the "Apply Cash Advance" hyperlink.
• Verifies the expenses meet University Policy as defined in the Administrative Policy: Traveling on University Business.
• Completes required fields and submits to approver(s).
• Prints Expense Report, attaches worksheet, receipts etc., and forwards to approver(s).

Final approver:

• Forwards the Expense Report and support documentation to Disbursement Services for imaging.

If the Expense Report is not processed within 30 days of the cash advance end date, collection of the advance through payroll deduction will commence.

Returning portion/all of Cash Advance:

The department enters a non-AR deposit into PS using a Departmental Deposit page and prints out a deposit report. This report along with the check payable to the University of Minnesota is brought to the campus Bursar or Cashier office for processing.

Additional Resource Information:

See the following in the appendices section of the Administrative Policy: Traveling on University Business

• Appendix D - Travel Rates
• Appendix I - Reimbursable / Non-reimbursable Travel Expenses
• Appendix K - Payment Methods