Section 6.3 Employee Advance

Policy Statement:

Employee Advance

Requests for pay advances may be granted if:

• An evaluation shows an ability to repay the advance with no financial risk to the school.
• The advance does not exceed the amount of pay already earned up to a maximum of 2 weeks worth of net pay.
• The CFO or Operations Manager will assess if there are sufficient accumulated wages to cover the advance in one pay period.
• Repayment can be made at the next payroll date.
• The request is reviewed and approved by both the Director and CFO or Operations Manager.

Advances of Merit Pay or Administrative Bonus may be granted if:

• The advance is equal to or less than the net amount of Merit Pay earned.
• An evaluation shows that the employee will be returning and employed by the school per the Merit Pay Policy.
• The request is reviewed and approved by both the Director and CFO or Operations Manager.

Employee loans will not be given in any form except as allowed in the school's retirement plan(s) policy.