Policy: Advances (staff, students and visitors)
To inform staff of the requirements associated with issuing advances
Requirements associated with issuing advances.
This Policy applies across the University.
- An advance is a payment made for future expenses to be incurred on approved University activities.
- Advances should only be used where there is no practical alternate payment method.
- All persons receiving an advance are required to sign an agreement, acknowledging receipt of the University funds and agreeing to the terms and conditions (including acquittal procedures).
- Acquittal is the process of providing receipts and relevant documentary evidence of the expenses incurred, to enable accounting and delegated approval of that expenditure
- Where an advance is not fully acquitted within the timeframe specified in the Advances procedure the outstanding amount will be treated as a debt owing by the person holding the advance funds. This debt may give rise to potential Fringe Benefits Tax implications in the case of staff.
|Printable version (PDF)|
|Title||Advances (staff, students and visitors)|
|Purpose||To inform staff of the requirements associated with issuing financial advances|
|Effective Date||3 Mar 2011|
|Review Date||1 Jan 2014|
|Responsible Officer||Chief Financial Officer|
|Contact Area||Finance and Business Services|