Miscellaneous Cash Advances

This information is taken from the UI Operations Manual, Additional detail procedures and information that is not included in the Operations Manual is so noted by italics.

Operations Manual V.4.6

For events that require cash payments such as freight charges, payments to research subjects, meal charges on sponsored student trips, etc., departments must submit requests for advances in writing to Accounting and Financial Reporting. Each request must provide an explanation of the need for the cash advance. Every reasonable effort should be made to identify an alternative to the use of a cash advance. Alternatives include direct payments, procurement cards, and the use of the ProTrav system for travel advances and reimbursements.

Requests for cash advances must be submitted on the Request for Approval of Change Fund or Cash Advance Template form in order to provide the information below.

  • Purpose of advance;
  • Length of time the advance will be needed;
  • Account number and class code to which reimbursements and adjustments will be charged;
  • Signatures of both the person responsible for the account and the authorized administrator; approval through the University Workflow application is acceptable in lieu of a signature.

Please note: A departmental Cash Handling procedure must be submitted and approved before the cash advance request will be approved.

Submit requests as an attachment to an E-Voucher to Accounting and Financial Reporting for approval. Requests for cash advances in excess of $1,000 shall be referred to the Associate Controller or Director of Accounting and Financial Reporting for approval.

  • Checks are printed on Wednesday and Friday of each week.
  • Plan ahead appropriately in order to allow for Workflow approvals, voucher audit, and check processing. Submitting the E-Voucher two days or greater before the next check printing day should provide sufficient lead time.
  • Instructions for completing the E-Voucher:
    • In the section "Processing Information":
      • Check the box labeled "Please rush this voucher."
      • Complete the field for date needed, using a reasonable date.
      • Check the box "Hold check for pickup."
    • In the section "Vendor Information":
      • The vendor name must be the name of the person who will be cashing the check and the address must be their home address.
      • For internal control and system maintenance reasons, departments should limit the number of people who have authority to cash checks for cash advances.
    • In the section "Line Items":
      • Enter in the box under the line item: "University of Iowa departmental cash advance."
      • This entry is required to prevent the requester from receiving a 1099-Other Income tax document at the calendar year-end.
      • This will print on the check stub and must be presented when cashing the check.

The requester will pick up the check from Accounts Payable. Wells Fargo will cash the check with no fee. The check can be cashed at other financial institutions; however, a fee will apply. The requesting department is responsible for safekeeping of the check and cash.

  • Checks are printed on Wednesday and Friday of each week.
  • A form of ID, preferably a driver license or University ID must be presented to pick up the check. A person other than the requester is allowed to pick up the check from Accounts Payable.
  • The driver license and University ID of the person whose name is on the check must be presented when cashing the check. Only the person whose name is on the check can cash the check.

When cash payments are required as a consequence of contractual arrangements, a copy of the contract must be presented with the request for an advance.

Departments delaying return of advances will not be allowed further advances without either the clearing of those in question or the approval of the Associate Controller or Director of Accounting and Financial Reporting.

When the need for the advance is complete, the department must return the unused cash, Return of Cash Advance form, and receipts to Accounting and Financial Reporting to clear the outstanding advance.

All receipts will be verified on advances being cleared. Any questionable receipts will be referred to the Associate Controller or Director of Accounting and Financial Reporting.

Receipts from student organizations will require a summary listing approved by an officer of the group and the proper official in the department administering the groups.

Change or cash advances cannot be used to cash personal checks unless approved in advance by Accounting and Financial Reporting. Requests for exceptions to this check-cashing policy should be directed to the Controller.

 

Any questions about these procedures should be directed to Jennifer Kooker at (319) 335-0630.