FM: 2060 p.

SALARY ADVANCES

Scope:

This policy applies to all benefited employees.

Policy:

The College recognizes that employees may have a “rare or extraordinary need” to
receive a salary advance for personal reasons. Employees are, however, discouraged
from the use of salary advances.

The College will make salary advances subject to the following limitations:
1. No salary advances are available to members of the President’s Council.
2. Salary advances are not available to employees on unpaid leave or who have
applied for or been approved for upcoming unpaid leave.
3. Salary advances are only available to persons employed in benefited positions
(full time or part time)
4. No more than one advance will be granted to an employee in any fiscal year (July
1 – June 30).
5. No salary advances to an employee may exceed 50% of the amount of the net
base earnings due to the employee in the employee’s next paycheck. Salary
advances for an employee classified as “non-exempt” under the Fair Labor
Standards Act shall be limited to calculations based on the employee’s regular
schedule, exclusive of overtime, comp time or additional hours.
6. Repayment must be made at a rate of no less than $50 per pay period and must be
made in full no later than the employee’s start of unpaid leave or the last day of
employment at the college.

Except as provided herein, the College shall make no loans to employees.

Procedure:

1. Employees shall apply to the Associate Vice President Human Resources with a
written statement that describes their “rare and extraordinary need.” If the
request meets the “rare and extraordinary” qualification, the request will be
forwarded to the Vice-President of Financial and Administrative Services for
approval. The Vice President of Financial and Administrative Services reserves
the right to disapprove any request.
2. Funds shall not be disbursed before the employee has signed a promissory note
with the college for the advance.
 FM: 2060 p.2.f.

3. The salary advance must be repaid within a 6 month period.

Examples of rare or extraordinary need are:
 Unexpected Family Health Crisis (not covered by insurance)
 Damage to property from natural disaster, flood, fire or other accidents
(not covered by insurance)
 Unexpected repair to personal transportation vehicle (not covered by
insurance)
 Expenses as the result of the death of an immediate family member

Reference: FIS: 805 Salary Advances

For more information contact: Associate Vice President Human Resources,

7724.
Revised: 1/12
5/05