Use of this form is mandatory for foreign projects. The recipient of a cash advance is responsible for the security of the funds. Traveler's Checks When practical, recipients of cash advances are encouraged to obtain traveler's checks. WSU or the project sponsor pays the bank charges. Bank Accounts Large cash advances should be deposited in a bank near the project location.
Bank charges are allowable expenses.
A copy of the bank statement is turned in with the periodic receipts or on the final accounting date. Foreign banking regulations should be checked. In some countries, one individual cannot write checks on an account established by another, even though they are both working on the same project. If the bank account is established in the name of Washington State University or in the name of a University department, the approval procedures in 30.65 must be followed. In Foreign Countries Dollars are exchanged in legal currency transactions, usually at a bank or government currency exchange.