Policy No. 848

Area: Human Resources

Description: Salary Advance

Adopted: 04/23/96
Revisions Approved:

The college may grant a salary advance to an employee who demonstrates an emergency need. Presentation of a "good reason" for a salary advance should not necessarily constitute an emergency.

Approval for salary advances must be signed by the appropriate Senior Staff member, the Executive Director of Human Resources, and the Dean of Administration and Business Services.

Salary advances may not exceed an amount which the employee can afford to pay back over a four-month period. If the amount of the approved salary advance request requires more than four months to pay back, the College President must authorize the action.

The extent of the advance will also be limited by the amount of the employee's earned vacation, which shall serve as collateral.

Salary advances will carry a processing fee of $10 plus 1 percent of the advance.

Before pursuing a salary advance, the employee is encouraged to pursue similar options available through the Public Employees Retirement System or the ABCO Public Employees Federal Credit Union.

Procedures:

Salary Advance No. 848.1

Back to the Policies and Procedures Main Menu