Subject Area: Procurement/Disbursement
Responsible Office: Financial Services
Sponsor: Chief Financial Officer
Originally Issued: November 1998
Revised: March 31, 2003, February 2010, March 2014, December 2014
Refer Questions To: Shared Services Help Desk, 773-702-5800
Purpose: To establish policy on advancing funds for University related business.
Cash advances will only be granted, under limited circumstances as outlined below:
- Students and post-doctoral fellows traveling on official University business
- Student group travel
- University employees on extended travel (more than 4 weeks) or archaeological expeditions (advances limited to three months of operation costs)
- Human Subject payments
Advances will not be issued:
- For an amount less than $500 (with the exception of students)
- More than 30 days prior to the planned usage begin date
All extended operating advance requests over $25,000 must be signed by the appropriate Dean or Vice President.
Any individual receiving a University advance is personally liable for any loss of the funds. Unused advances must be returned to the University within 30 days after the need for the advance has expired.
- Any exception to this policy must be approved by the Associate Vice President for Finance.