A field advance is, in essence, a loan from University of Washington (UW) general funds made to an individual (the custodian) to provide a temporary source of funds for conducting official UW business that cannot be paid for using traditional methods (i.e. purchase orders, check requests, UW Travel/Procurement credit cards).
The field advance:
May be for any amount of money as long as the department administrator or designee has authorized the request.
May be issued as a check or wire transfer.
Cannot be issued for more than a six-month period. If funds are needed for a longer period, an additional advance may be requested near the end date of an outstanding advance.
Must be reconciled within 30 days after the end of the field advance period.
See the Field Advances website for complete information.
Suvi Siriyanonh, Financial Accounting, 206-543-6402
Accessing cash at a foreign site
There are four options for accessing cash from a field advance at a foreign site:
Advance is deposited in personal U.S. bank account and cash is withdrawn at foreign ATM.
Advance is deposited in personal U.S. bank account and cash is withdrawn and carried abroad on person.
Advance is deposited in foreign bank account (personal or UW) and cash is withdrawn at foreign ATM.
Advance is deposited in foreign bank account (personal or UW) and cash is withdrawn at foreign bank during business hours using a withdrawal slip.
Consult the chart, How to Access Cash Abroad from an Advance (Field Advance or Per Diem Travel Advance) for detailed information about the options and possible additional budget impact.
If cash will be carried into a foreign location, find out how much cash can be carried in. If $10,000 or more in cash is being carried into or out of the U.S., ensure that the proper documentation is in place.
Foreign Bank Account
If a foreign bank account will be needed, review the procedures for opening one. Determine, in advance, if any of the following will be concerns:
Do host country laws prohibit repatriating unspent funds when the account is closed?
Does a non-citizen of the host country have to report the bank account to local authorities?
Will the account be taxed by local authorities in the host country?
Foreign Exchange Rate
Oanda.com is the recommended site to determine the appropriate foreign exchange rate.