Advances and Foreign Currency
5.6.7 Where an individual member of staff has to incur substantial personal expenditure in relation to travel and would suffer financial hardship through a delay in reimbursement caused by the duration of the visit, the University is prepared, on request, to make an advance payment to a member of staff. Such requests must be in writing and it is a condition of making an advance payment that vouchers must be obtained to substantiate expenditure, that a detailed expense form is completed for the amount spent, and that any unspent amounts are returned immediately to the Finance Office. Allowances will normally be payable where travel exceeds one week in duration. The minimum amount that will be advanced is £500 and the maximum is £3,000.
5.6.8 Advances are not intended for small amounts of foreign currency. Staff are expected to exchange their own currency and the University will fully reimburse the exchange costs, which should be shown on the receipts provided with the claim.
5.6.9 Where staff have exchanged currency the exchange rate used is the rate to be used on the claim. Where credit or debit cards have been used the rate used by the card provider may be used. Where this does not apply the member of staff can obtain guidance on exchange rates to be used from the Accounts Payable Section of the Finance Office. Staff should provide evidence of the rate used such as an extract from a credit card bill or receipt from the transaction to exchange sterling into a foreign currency.