Pro.1 Cash Advance Request and Reconciliation
Corresponding with: OSR Policy 500.14 Cash Advances
The Finance Division Policies and Procedures should be followed for requesting and reconciling cash advances. In addition, the PI or the PI’s designee must authorize the request for a cash advance by signing the Application for Advancement of Contracts & Grants Funds.
Due to need to maintain the confidentiality of study subjects, detailed documentation of disbursements should maintain by the department for each disbursement, including:
- A receipt of payment (see example Uniform Receipt) with the study subject’s signature.
- A list with the following information regarding the study subjects:
- His/her name
- Identification number
- Social Security Number
3.Other supporting documentation as required by the awarding agency.
I. Requesting a Cash Advance
Follow the Finance Division Procedure 307.1 Requesting, Reconciling and Settling Cash Advance
If the advance is for a wire transfer, request no more than two months operating cash (unless accompanied by supporting documentation). Complete the Account Services form Outgoing Wire Transfer (instructions are provided on how to complete the form). Send the form to OSR for review and approval. Once approved, Accounting Services prepares a wire transfer to the foreign bank account.
II. Requesting an Increase to Existing/Replenishment Cash Advance
Outstanding cash advances should be reconciled before any new advance is increased. Only in unusual circumstances will the advance be increased without partial or total reconciliation of the original advance. The OSR Program Administrator must approve all check requests to increase advances without reconciliation.
OSR reviews and approves the check request and justification for replenishment or increasing of existing cash advances.
III. Reconciling a Cash Advance
Follow the Finance Division Procedure 307.1 Requesting, Reconciling and Settling Cash Advance and OSR Policy Guidance related to Finance Division Policy 302: General Receipts and Deposits
05/29/2013 Revised procedure to include link to OSR Guidance related to Finance Division Policy 302: General Receipts and Deposits.
01/06/2011 Revised policy to clarify authorization required by Principal Investigator.
4/30/2010 Revised procedure to conform with Finance Division policy and procedure.
9/4/2009 Changed title of policy from Requesting Payment for Study Subjects to Cash Advance Request and Reconciliation to reflect additional types of requests for advances.
The policies in the Office of Sponsored Research Policies & Procedures Manual supersede any OSR policies, procedures and appendices previously included in the University Business Manual, a publication of UNC Chapel Hill’s Division of Finance.