University of Illinois System
Policies & Procedures
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8.3.5 Close a Cash Advance

Policy Statement

Cash advances must be closed upon completion of the event or program for which the cash advance was issued.

Reason for the Policy

To close a cash advance upon completion of the event or program for which the cash advance was issued.

Applicability of the Policy

Whenever the event or program for which the cash advance was issued has reached its completion.

Procedure

Cash advances must be closed within 15 days of the established due date.

Cash advances not closed within 60 days of the established due date may be subject to formal collection activities. If collection activities are unsuccessful, the outstanding amount may be reported as taxable income to employees in accordance with IRS regulations.

To close a cash advance:

If there is CASH to be returned

  1. Return the cash or check to your campus University Bursar with a completed Department Deposit Form. For additional information, consult 10.3.1 Deposit Cash and Checks with University Bursar. Notify the cashier that a cash advance is closing. Retain the deposit receipt to submit in Chrome River. Do not send cash or checks directly to University Payables (UPAY).
  2. Log in to Chrome River. In the Expenses Ribbon select + Create. 
  3. Cash advances should be closed using the purpose “TCard and Employee Reimbursements”. 
  4. UPAY will review the expense report to ensure the funds were spent in accordance with the University of Illinois System Business and Financial Policy Manual.

If there is NO CASH to be returned

Follow the above steps #2 through #4.

8.3.1 Open a Cash Advance
8.3.2 Reconciliation of a Cash Advance
8.3.3 Replenish a Cash Advance
8.3.4 Extension of a Cash Advance Due Date
8.4 Payments to Human Subject
10.3.1 Deposit Cash and Checks with University Bursar
15.1.1 Cash Advances for Travel
19 Contracts

Chapter 6, How to Report in Publication 463 (2011), Travel, Entertainment, Gift, and Car Expenses
Chrome River Resource Page
University Payables Training Materials
University Bursar office locations and hours:
    Urbana-Champaign
    Chicago
    Springfield

Last Updated: February 14, 2022 | Approved: Senior Associate Vice President for Business and Finance | Effective: February 14, 2022