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Advances (Including Petty Cash and Accounts Receivable)

Cornell University provides advances of cash or other resources in limited circumstances to meet the business needs of the institution. This policy establishes these circumstances and the procedures for making such advances. This policy does not apply to any advance payment required by a vendor based on the terms of a purchase order.

Policy details

Contact:

Your local college or unit administrative office or University Accounting (email).

Violations of Finance Policy

Violation of a financial policy should be reported to your supervisor, your human resource representative, unit manager and/or the office responsible for the policy. Where these resources are inadequate, you may choose to make an anonymous report through the Cornell University Hotline.

Revision History:

01/09/2019: Changed "Vice President for Financial Affairs and University Treasurer" to "Executive Vice President and CFO" as Responsible Executive.

11/2/2018: Changed the per-transaction limit for petty cash to $75 from $25.

5/10/2018: Updated contacts, related resources, and hyperlinks throughout.