Cash Advances can be requested for transactions that require cash for payments (example: research subject compensation, student athletic recruiting and meal expenses, or other specialized program expenses). The department should evaluate if a check issued by Accounts Payable or a procurement card could be used before requesting an advance.
Change Funds can be requested when a department has an event where making change is necessary (example: on-site registration for camps or areas that regularly use cash registers). Change funds should be kept to a minimum. Annually, departments will be required to verify the amount of change funds still held.
Before a cash advance or change fund can be requested, the department must have a current (within the last 3 year) cash handling procedure submitted and approved. Information can be found at https://afr.fo.uiowa.edu/cash-handlling/cash-handling-deposits-policies-and-procedures. If a cash advance is being requested for research subject compensation, the procedure at https://afr.fo.uiowa.edu/cash-handlling/research-subject-compensation must be done instead.
Please note: The workflow link below is used for a Request, a Replenishment, or a Return of Cash Advance or Change Fund. The form details any additional steps you may need to take to complete submission.
Cash Advances and Change Funds are fronted from an Accounting and Financial Reporting MFK and not expensed to the department until the cash advance is closed or if the change fund come up short when balancing.
The form will route through Workflow to the Department Administrator and to Accounting and Financial Reporting for approval. Once AFR approves, the form will be marked “complete” in Workflow. An email will be sent to the Form Initiator stating the form has completed routing. This email must be attached to an eVoucher if a Request or Replenishment is being made. The Business Officer will receive an email of a view only package.
Additional information on the eVoucher process when requesting a cash advance or change fund can be found at https://afr.fo.uiowa.edu/home/accounting-and-financial-reporting-listserv-information/miscellaneous-cash-advances.