Collis in spring
Go To
OrgSync

Share

Cash Advances

You may need a cash advance to pay for travel expenses, meals in a local restaurant, out-of-town shopping for specialty items or food, alcohol for AMP-approved events, or meal buyouts for visiting performers or speakers when their contract requires it.

Your Group is not required to use a Cash Advance for the above expenses.  You can pay out of pocket and get reimbursed using a Business Expense Reimbursement Form as long as you have money budgeted for the expenses.  It is imperative that you keep all your itemized/detailed receipts showing payment was made, as well as the Tour Manager Receipt for meal buyouts, if applicable.

Cash Advances up to $500

The Cashier's Office will only permit a person to have one cash advance out at a time. You must reconcile your first advance before requesting a second advance.​

Please make your request at least five business days in advance.

  1. Treasurer submits a Cash Advance Request by 1:00 pm, five business days ahead. (Note: The treasurer should complete the request, but it needs to be in the name of the student who will actually be responsible for the cash.)
  2. We prepare a Payment Request form for the Finance Center, along with a paper copy of the Business Expense Report form (with some information already entered), as the advance will later need to be "reconciled" on this form.
  3. We will email the student when the Business Expense Report form is ready to be picked up in 301C Collis.
  4. The student picks up the Business Expense Report in 301C Collis and the Payment Request form is submitted to the Finance Center.
  5. Once the Payment Request form is approved by the Finance Center, an e-mail goes out to the Treasurer's Corner staff and the student who will be responsible for the cash, saying that the cash is ready for pick-up at the Cashier's Office.
  6. The student picks up the cash at the Cashier's Office..
  7. The student manages the cash, keeps track of all expenses on the Business Expense Report, and provides itemized/detailed receipts. Receipts should show name of vendor, itemization, and that payment was made.
  8. Within three business days after use of the funds, the student reconciles the advance by completing the Business Expense Report form and returning it to 301C Collis, along with all itemized/detailed receipts and any leftover change. The amount returned should be entered in the space for "Amount Due College".
  9. If the student needed to use personal funds for expenses higher than the cash advance amount, this additional expense should be entered in the space for "Amount Due Payee" on the Business Expense Report form. A reimbursement check will be mailed to the student, provided your group has the funds available.

Cash Advances Over $500

Please make your request at least two weeks in advance.

  1. Treasurer submits a Cash Advance Request form at least two weeks before it is needed. (Note: The Treasurer should request the advance, but it needs to be in the name of the student who will actually be responsible for the funds.)
  2. This advance will be provided in the form of a check payable to the responsible person.
  3. Our office will submit the request for the "cash advance" check. When we receive the check, we will notify the responsible person that the check is ready for pickup in 301C Collis. A copy of the Business Expense Report form needed for the cash advance reconciliation will be included with the check.
  4. The student picks up the check from 301C Collis. This check can be deposited in a personal bank account or cashed at the Bank of America branch on Main Street in Hanover.
  5. The student manages the funds, keeps track of all expenses on the Business Expense Report, and provides itemized/detailed receipts. Receipts should show name of vendor, itemization and that payment was made.
  6. Within three busienss days after use of the funds, the student reconciles the advance by completing the Business Expense Report form and returning it to 301C Collis, along with all itemized/detailed receipts and any leftover change. The amount returned should be entered in the space for "Amount Due College".
  7. If the student needed to use personal funds for expenses higher than the cash advance amount, this additional expense should be entered in the space for "Amount Due Payee" on the Business Expense Report form. A reimbursement check will be mailed to the student, provided your group has the funds available.

It will not be possible to process last minute requests for cash advances higher than $500 because of the time needed to arrange for a check to be issued.

If you find out "too late" that your expenses will exceed the $500 limit, you may need to get the $500 advance, and then also use your own personal funds to cover the additional expenses. Reimbursement will be arranged during the cash advance reconciliation process.