Procedure: 301-Cash Advances
Establishing and Updating a UW Madison Bank Account
All UW Madison bank accounts and any updates must be set up and processed through UW Madison Cash Management Office. All UW Madison bank account must have UW System Board of Regents approval in order to the authorized. Contact Cash Management at cashmgt@bussvc.wisc.edu.
An account is authorized if it is established upon written authorization from the Board of Regents of the University of Wisconsin System in the form of a Certification issued by the Secretary of the Board.
Any account set up without this Certification is considered “unauthorized”. An unauthorized account may not use:
- The University of Wisconsin's Federal Taxpayer Identification Number.
- The University's name in any part of the bank account name (e.g., University of Wisconsin, University of Wisconsin-Madison, or UW, or UW System)
All UW Madison bank accounts are set up by UW Madison Cash Management Office. These Bank accounts are usually used for research study which continue for a year or more, and the payments to human subjects are $299 or less. These bank accounts cannot be used to purchase gift cards or to request cash withdrawals. Please see Temporary Cash Advance section for options. If individuals are to be paid $300 and greater, please see Procedure for PIRs: 101-Payments to Individuals. If individuals are to be paid $99 and less, please review the Policy103-Payments to Human Subjects for documentation requirements.
Cash Advances requests are based on three months of expenditures.
Any other requests for replenishable bank accounts other than use for subject study payments will requires special approval through the Cash Management Office. These accounts might be used where on-site expenses cannot be paid by purchase cards or through purchase orders. Please contact Cash Management at Cashmgt@bussvc.wisc.edu.
All Bank accounts require, at minimum, monthly reconciliations to the Bank Statement, check register, and to the authorized cash advance level. At a minimum, quarterly reporting of expenditures is required by using the Cash Advance Accounting Form.
Check signers must be a different individual than the Bank Reconciler. Banks Statements must be sent directly to the bank reconciler.
(See Opening a new Checking Account Memo | New Bank Account Information Form)
If there are changes on these bank accounts such as bank account contacts, reconcilers, signers, bank statement address changes, and bank account security updates then an Update Bank Account Information Form must be completed and sent to Cashmgt@bussvc.wisc.edu.
(See Updating a Checking Account Memo | Update Bank Account Information Form)
If additional checks need to be ordered for a current UW Madison Checking Account, please complete the following form Check Order Form. Send completed Ordering Check Form to Cashmgt@bussvc.wisc.edu.
If an increase in authorized cash advance is required based on three months of expenditures, then a new Cash Advance Request and Cash Advance Individual/Department Custodian Agreement will need to be completed for the additional cash advance. Please complete these two forms with the cash advance end date per the funding requirements. The Cash Advance Request and Cash Advance Individual/Department Custodian Agreement must be signed by the Individual Custodian, the Department, and the Dean's Office with a justification of why the increase is necessary. It is the discretion of the Department/Dean's Office to approve this request based on written justification. Forward all signed documents to Cash Management, 21 N Park St., Suite 6101, Madison, WI 53715-1218.
If a UW Bank Account will need to be closed, immediately contact Cash Management (cashmgt@bussvc.wisc.edu). Prepare and process a Cash Advance Accounting Form for all expenses processed through the bank account and any checks written on the bank account but not yet reported on. Forward the Cash Advance Accounting Form to your Department/Dean's Office for review and approval. Dean's Office with forward approved Cash Advance Accounting forms to Cash Management.
If a Custodian of a UW Bank Account is leaving UW or moving to a different department within UW Madison, please contact the Department responsible for the original Cash Advance and either close the bank account immediately or provide a new Cash Advance Individual/Department Custodian Agreement with the new custodian. If the bank account is to be closed or the custodian is changing, notify Cash Management (cashmgt@bussvc.wisc.edu) immediately. Remember: These bank accounts are authorized to the original department only and cannot be transferred into other departments within the University. Please prepare, complete, and send to the originating department a Cash Advance Accounting Form within 30 days of the either closing the bank account or notifying Cash Management of the change of the custodian. Report all expenses processed through the bank account and any checks written on the bank account but not yet reported. Complete an Updated Bank Account Information Form and a Cash Advance Individual/Department Custodian Agreement with the name and signature of the new custodian. Send all documents to your Department and then onto the Dean's Office for review and approval. All information is then forwarded onto Cash Management. (See Updating a Checking Account memo)
Procedure: 301-Cash Advances