Standards and procedures to enable appropriate stewardship of its assets, cost-effective business practices, and accurate financial reporting.

Policy Statement

Adelphi 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.

Reason for Policy

The University applies consistent standards and procedures to enable appropriate stewardship of its assets, cost-effective business practices, and accurate financial reporting. This policy establishes specific procedures for determining when and how the university will advance its financial resources and collect, or otherwise clear, these advances. This policy also establishes controls for petty cash funds and accounts receivable.

Who Is Governed by this Policy

Faculty and Staff

Policy

Refer to the “Advances Policy” of the Financial and Administrative Reference Guide (FARG).

Definitions

This policy does not have definitions associated with it at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.

Forms

Financial and Administrative Reference Guide Forms:

Related Information

This policy does not have related information at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.

Document History

  • Last Reviewed Date: April 11, 2023
  • Last Revised Date: April 11, 2023
  • Policy Origination Date: Not known

Who Approved This Policy

Michael Rhattigan, Chief Financial Officer

Policy Owner

Secondary Contact

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