Owner Department: Office of Human Resources
Approved Date/Effective Date: January 7, 2025
Approved By: Vice President, Treasurer, & Chief Operating Officer
Salary Advance Policy
I. Policy Statement & Purpose
Â鶹ӰÊÓ recognizes that extraordinary personal situations occur such that employees may have a critical need for a salary advance. In such cases, eligible employees may request a salary advance, which will be considered subject to the criteria outlined in this policy.
II. Policy Status
New
III. Scope & Key Stakeholders
Eligible Employees: Full-time faculty, regular full-time, and part-time staff employed for at least 90 days at Â鶹ӰÊÓ.
IV. Definitions
- Salary Advance: Receiving a portion of salary before the next scheduled payday.
- Eligible Employee: Full-time faculty and staff employed for a minimum of 90 days.
- Extraordinary Circumstances: Unforeseen, unplanned, and unavoidable events that could not be reasonably anticipated in normal daily life.
V. Policy Requirements
A. Restrictions & Limitations
Eligible employees may request a salary advance only in extraordinary emergency or personal situations, and under the following terms:
- The maximum allowable salary advance is limited to 50% of the employee’s total paycheck.
- The advance must be repaid in full from the employee's next regularly scheduled paycheck.
- Salary advance requests will not be considered if the employee is on a performance improvement plan.
- No more than two salary advances may be requested within a 12-month period.
- Salary advances cannot be requested in consecutive pay periods, even if they cross a calendar year.
B. Request and Approval Process
To request a salary advance, the eligible employee should complete the following steps:
- Discuss the request with the Office of Human Resources (HR) to verify if it meets the policy's criteria.
- Complete and sign the Salary Advance Request Form, acknowledging the terms and repayment agreement.
- Obtain approval from their direct supervisor, evidenced by a signature on the form.
- Obtain final approval from both the Office of Human Resources and the Office of Finance & Administration.
- Submit the fully approved form to Payroll, Payroll will process payment within 72 business hours of receipt.
VI. Responsibility for Implementation
The Office of Human Resources is responsible for implementing and overseeing this policy.
VII. Related Documents
Office Hours: 8 a.m. – 5 p.m. (by appointment only)