Department Change Funds

Departments authorized to perform cashiering functions use Change Funds. Change Funds are cash advances that can be identified as long term (ongoing) or short term (less than 6 months). Never establish a change fund by withholding receipts from deposits to University accounts (FRS Policy 8.10 #17). Petty cash funds are not to be used for change fund purposes. Questions regarding petty cash funds can be directed to Cash Management at 621-7987 or 621-5443.

 

Departments that would like to perform cashiering functions must get approval from the Bursar Banking Services Coordinator. Departments must agree to comply with regulations outlined in FRS Policy 8.10.

 

Please contact the Bursar Banking Services Coordinator for more information, or to make arrangements, at 621-1711.

 

If you experience problems reconciling the custodial agreement (FRS Policy 8.10 #3), contact Financial Management – Cash and Clearing.