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KU Endowment Loan

Policy
Purpose: 

Provide KU faculty and staff information on KU Payroll Endowment Loans.

Applies to: 

All faculty and staff employed by the University of Kansas.

Campus: 
Lawrence
Policy Statement: 

In the event that an employee would miss their regularly scheduled paycheck due to an administrative error out of their control, the KU Endowment Association will grant a payroll loan. The loan will not exceed 60% of the gross wages due to the employee for that specific paycheck.

The Payroll office is the only authorized department at the University who may initiate and sign for a payroll endowment loan. Loans will not be granted in cases where the employee themselves caused the delay due to untimely submission of documents, such as late timesheets.

Contact: 
Financial Services
1246 West Campus Road
Carruth O'Leary Hall
Lawrence, KS 66045
785-864-3066
 
Payroll
1246 West Campus Road
Carruth O'Leary Hall
Lawrence, KS
785-864-4385
payroll@ku.edu
 
Approved by: 
Director, Financial Services
Approved on: 
Wednesday, July 22, 2009
Effective on: 
Thursday, July 23, 2009
Review Cycle: 
Annual (As Needed)
Keywords: 
Endowment loan, payroll
Change History: 

06/02/2022: Updated to remove KU Endowment Loan form.
04/15/2021: Updated Contact, Approver, and owning unit sections from Comptroller to Financial Services.
01/30/2015: Uploaded policy to the Policy Library. 

Financial Categories: 
Accounting
Payroll
Personnel: Staff Categories: 
Compensation
Personnel: Student Employees Categories: 
Compensation

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