Cash Management

 

A Miscellaneous Cash Advance is a purchasing tool for UA employees who require cash to make approved payments. Common examples include; research subject payments, field supplies where only cash is accepted (such as rural communities), ad hoc services by small local vendors, etc.

Miscellaneous Cash Advances are not for travel expenses or payroll.  Travel cash advances are managed and issued through Concur. Contact our travel finance team for more information on requesting a travel cash advance.

Request & Use

To Request an advance, submit to OFA the UAF Miscellaneous Cash Advance Form approved by the individual with expenditure authority. Requests over $2,500 require approval of the OFA Director or AVC for Financial Services.

For the purchase of goods using a cash advance, the vendor must provide itemized receipts including the vendor name and address.

Supporting documentation required when individuals provide a service to UAF (including research subject payments & honoraria payments):

  • Name
  • Date
  • Description of service provided
  • Amount received
  • Signature (to indicate receipt of payment)
  • W-9 form OR Date of birth, addres and  indicate if individual has / has not received over $300 this tax (calendar) year from the University of Alaska (including the current payment). The individual’s Social Security (tax ID) Number is required if they have received over $300 or if this payment is over $100.

It is the responsibility of the recipient of the cash advance to obtain the required documentation when the payment is made.  If required documentation is not obtained for payments given, the recipient of the cash advance will personally repay that amount to the Miscellaneous Cash Advance General Ledger (103010-0259, no Org).

Reconciliation

The following items are required as back up for the Miscellaneous Cash Advance. All documentation is sent to the Office of Finance and Accounting, Attention Penny Bales.

  • Original receipts
  • Supporting documentation (must be legible)
  • All back should be submitted to OFA within 60 days of completion of University of Alaska business (this will avoid the need for 60-day cost transfer memos)
  • A 60-day cost memo if submitted past 60 days and the funding source is restricted
  • Deposit any unused funds through The Office of the Bursar
    • Use fund 103010-0259 (no org)
    • Please reference recipient of the funds (UA ID and/or Last/First name) and cash advance check number (or direct deposit number)

Advances not reconciled within six months from the date of issue will be charged to the department’s fund 1.

UAF will not accept checks for deposit that are not drawn on US or Canadian banks.

  1. All checks must have the 'magnetic code' across the bottom of the check and the originating bank must be a US or Canadian bank.
  2. Payments from foreign entities need to be either drawn on US banks (the US bank must be the originating bank, not a foreign entity issuing a check that is "DRAWN ON" a US bank), make their payment with an international money order or pay via credit card.

The last check accepted from a foreign bank was from the Bank of Greenland and drawn on a Bank of America International account. Bank of America charged $120.00 to collect the funds. The original check amount was $742.80. The $120.00 had to be charged back to the department that deposited the check and it was up to them to try to collect those funds.

Canadian Checks

All Canadian checks must be placed on a separate deposit slip that is listed as 'CANADIAN' and be accompanied by a copy of the check with the deposit accounting numbers listed.

Canadian exchanges are processed by our bank on a daily basis. We work hard to process the exchange to the student/department as soon as we get the information from the bank.

The university often receives payments in the form of ACH deposits or checks that are unclear as to which department they belong. These monies are held in a general ledger account until they are claimed.

It is important to track incoming revenue to ensure the transactions process correctly and posts to the appropriate area. Otherwise, the revenue may end up in this holding place without anyone knowing of its existence.

You can review the current list of unlocated ACH deposits in the FGIGLAC Banner screen:

  • Enter 103010 for the fund and 0773 for the account code
  • You may either scroll through the list or search for a specific amount by clearing the screen and entering the value in the "Amount" box
  • Please note, amounts may vary if fees were applied