Travel Advance

I. Scope

This Policy is applicable to faculty and staff seeking a Travel Cash Advance as part of authorized travel on behalf of the University.

II. Purpose

The purpose of this policy is to establish the circumstances under which William & Mary may provide travel advances and the associated requirements.

III. Definitions

• Acknowledgement of Financial Responsibility Form: A document signed by a traveler indicating awareness and agreement with the financial obligations and risks associated with their trip.
• Business Purpose: A required statement adequately describing the expense as necessary, reasonable, and appropriate for the University. All expenses must align with the goals, objectives, and mission of the University.
• Travel Advance: A sum of money provided to an employee before business-related travel. These advance covers reimbursable expenses such as meals, transportation, lodging, and incidental items.

IV. Policy

Travel Advance may be issued to employees on William & Mary business. It covers out-of-pocket travel expenses expected to be reimbursed from university accounts. Students and Non-W&M Affiliates are ineligible for travel advances.

Travelers must formally request a Travel Cash Advance through the Chrome River Expense Report process within 10 days before the travel departure date. The request must include a copy of the Pre-Approval and the Acknowledgement of Financial Responsibility form.

The request undergoes a thorough approval process, considering the nature of the trip and the necessity of a cash advance. Travel Cash Advances must be greater than $100 and approval is granted by the Cashier’s office. Travelers with delinquent receivable balances or multiple advances may be denied additional travel advances. 

Once approved, the cash advance is distributed to the traveler via direct deposit or check. Travelers must adhere to responsible financial management practices during the trip.

Travelers are responsible for accurately estimating expenses, submitting well-documented requests, using funds judiciously, and complying with all relevant University policies. 

Upon completing the trip, travelers must promptly submit a detailed expense report (within 60 days), including receipts, to reconcile the cash advance. Unspent funds must be returned to the University promptly.

All travelers must comply with this policy, and any deviations should be communicated and justified through the appropriate channels.

VI. Approval and Amendment

This policy was created by the Office of Financial Operations and may be amended or terminated by the Chief Operating Officer.

Questions about the implementation of this policy or its interpretation should be directed to the Chief Financial Officer.