Financial Services news
Based on user feedback and suggestions, we are happy to announce that an improvement has been made with respect to travel advance requests. Effective March 1, all accountable advance requests payable to University faculty and staff will be made by direct deposit to the same bank account where all other personal reimbursements are deposited.
The administration of travel and other personal reimbursements is under the responsibility of the Travel Desk section of the Accounting Department. Up to 150 requests are processed daily -- that's over 3,000 advances and expense reimbursements handled each month!
An inconsistency has been identified in the Travel Policy that must be corrected immediately: Section 7.3 indicates that travel advances may be signed by the fund financial manager only, while expense reports must be signed by the fund financial manager or the fund financial manager's direct superior in the case where the claimant is also the fund financial manager.
As part of the continuous review of University policies and procedures, whose objectives are to increase processing efficiency and adherence to appropriate governance requirements as they relate to internal controls, we have identified an inconsistency in the Request for Travel Advances process.