Cash Advances
The University issues cash advances to employees in support of official University business for a very limited number of business activities.
Types of Cash Advances
Travel Cash Advances
Travel Cash Advances may be issued to employees on official William & Mary or VIMS business to cover individual travel and group or student travel. They cover out-of-pocket travel expenses expected to be reimbursed from university accounts.
Non-Travel Cash Advances
Non-Travel Cash Advances be issued to employees only in exceptional circumstances, such as study abroad and study away support or human subject research.
| Individual Travel Advance | Group or Student Travel | Study Abroad/Study Away |
|---|---|---|
| A travel advance may be authorized for faculty and staff traveling for an extended period. | A travel advance may be requested by a group of students traveling for a university-sponsored activity, and the costs will exceed $100. The supervising faculty/staff member is responsible for completing the advance request to cover the expected cash expenses. | Study Abroad cash advances may be provided to the Program Director leading the program. |
| Process in Chrome River before travel, Pre-Approval, and Acknowledgement of Financial Responsibility. | Process in Chrome River before travel, Pre-Approval and Acknowledgement of Financial Responsibility. | Not in Chrome River; it may be processed up to 45 days before the trip's start. |
Travel Advances
Travelers must formally request a Travel Cash Advance through the Chrome River Expense Report process within 10 days before departure, including a copy of the Pre-Approval and the Acknowledgement of Financial Responsibility Form (pdf).
The request is approved based on the trip's nature and necessity. Advances over $100 require approval from the Cashier's office. Those with delinquent balances or multiple advances may be denied. Approved advances are distributed via direct deposit or check, and travelers must manage funds responsibly.
Reconciliation of Travel Cash Advances
After the trip, travelers must submit a detailed expense report in Chrome River with receipts within 60 days to reconcile the advance, promptly returning any unspent funds to the University via the Cashier's office in Blow Hall by cash or check. Once the traveler has obtained a payment receipt from the Cashier's Office, they must submit the receipt in Chrome River as a Cash Advance Return immediately to update their Chrome River balance to zero and to alleviate any discrepancies between Banner and the bank.
How to submit a Cash Advance? Requesting a Cash Advance and/or Cash Advance Return.
Non-Travel Cash Advances
A Non-Travel Advance Request Form (docx) must be completed and signed by the William & Mary employee receiving the funds. It must also be reviewed and approved by designated authorities within the organization. The completed form is then routed to the Accounts Receivable office for approval and distribution of the funds used via direct deposit or check.
Reconciliation of Non-Travel Cash Advances
After completing the trip or research, a Reimbursement/Refund Request Form must be completed and submitted to buyW&M with receipts within 60 days to reconcile the advance. Promptly return any unspent funds to the University via the Cashier's office in Blow Hall by cash or check.
Procedures for Non-Compliance
Any employees departing the University must pay back and reconcile their travel account balances before leaving. In the event of failure to repay your past due cash advance balance within 60 days of the last day of travel:
The employee will receive a final email notification from the Cashier's Office including their immediate supervisor. The employee will be given a short timeframe to pay the outstanding balance. If the balance is not paid by the end of this timeframe, the outstanding expense report will be submitted to Payroll to initiate a payroll deduction.
These procedures are in place to ensure adherence to company policies and regulatory requirements regarding expense reporting.
