A cash advance is a request for a check made payable to a vendor or to the organization treasurer before an actual expenditure is made. Cash advances are made so that the student organization treasurer does not have to use personal funds to make purchases on behalf of the student organization. Once the expenditure is made, all receipts must be returned to the Office of Student Life within 5 days with the cash advance slip provided by the Student Comptroller. Failure to return receipts within five business days will result in the account being frozen until all receipts are received. There will be NO checks cut to “CASH”. The following procedures must be followed:
The check request form is co-signed by the Director of Student Life and must have the signature of the organizations Advisor present.
- Requests for cash advances will be made payable only to organization treasurers and may not exceed $200.00 per request. Only one cash advance request will be accepted at any given time. In order to process additional requests, receipts must be submitted for the previous request. The amount of the cash advance should be based on actual needs, and not on the $200 limit. Request only the amount actually needed. Cash advances will only be made out to members of the Executive Board.
- Receipts and other forms of documentation verifying that actual expenditures were made along with any unexpended funds must be returned within 5 days from the date of the voucher. Cash advances are subject to the same rules and regulations as other types of expenditures noted in the Financial Guidelines.
- Un-reconciled cash advances will result in suspension of all services provided to the organization by the Office of Student Life and the Student Comptroller.
- The Office of Student Life reserves the right to deny or approve check requests and cash advances of over $200 at the discretion of the Director of Student Life.