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Policy & Procedure
Policy Title :
Cash Advances Policy
Policy Number :
IV.A-7
Responsible Party :
Financial Affairs
Effective Date :
28/11/2013
Revised Date :
_______________________

Purpose
  • To ensure that the new faculty members, Senior Staff and Administrators of the University cab support their financial needs until they received their initial salary and the reimbursement of their visa processing.
  • To ensure that the new Staff who are entitled for 6 months housing advance and the staff who are entitled for the food allowance can support their financial needs before receiving their initial salary.
Statement :
  • Upon arrival of the new faculty member, senior staff and administrators, they are eligible to receive cash advance of SR 5,000.00 (linked to a visa processing reimbursement with maximum allowed of the same amount that was stated on their employment offer).
  • New staffs that are entitled to receive housing allowance are eligible to receive to housing allowance advance for the first 6 months.
  • New staffs that are entitled for the food allowance are eligible to receive the cash advance equivalent to one month allowance.
Procedure :
  • Cash advance form should be prepared by HR Staff or the new staff or faculty member, signed by the Director of Human Resources and for the Final approval the Director of Financial Affairs.
  • Approved Cash Advance form should be forwarded to the staff handling the cash releases.
  • The cash advance should be deducted from the faculty member first pay cheque and the payment for the reimbursement of visa processing will be added in case the final approval was received on or before faculty payroll cut-off date which is every 15th of each month.
  • The food allowance advance will be deducted from the new staff first pay cheque and the housing allowance will be deducted on a monthly basis.