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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 using the Request for KU Endowment Loan form. 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: 

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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