8.3.1 Open a Cash Advance

Policy Statement

A unit must open a cash advance before funds are issued.

Reason for the Policy

To open a cash advance to issue funds.

Applicability of the Policy

Whenever funds must be issued from a cash advance.

Procedure

A cash advance must specify a due date that is within 18 months of the original date of issue to satisfy IRS requirements. No single advance can exceed $10,000. Cash advance due dates will determine past due status. Replenishment actions do not affect or change cash advance due dates.

• If the advance is used for program expenses, the due date must be the completion of the program or no more than 18 months from the issue date, whichever occurs first.

Opening a Cash Advance

To open a cash advance:

1. Plan ahead. Processing a request can take up to 72 hours.
2. Consult the job aid Emburse Enterprise—Open and Close an Advance