- Does the department have a change fund? If yes, review the following:
- Is the change fund authorized with Financial Services? (Note: it is often the case that unauthorized change funds are used. Money collected is held back from deposit and is used as a change fund.)
- The change fund should be kept in a secure place with access only by the custodian.
- A change fund should not be used for purchases, loans, wages or check cashing.
- The amount of the change fund should be sufficient to conduct a normal day's business.
- Conduct an unannounced count of the change fund and agree the balance to University records. Resolve any differences with the fund custodian and supervisor.
- If the fund is unauthorized, it should be deposited into the department supplies account.
An "Application for Change Fund" may be obtained from Financial Services by contacting Ralph Lassiter at B-202 ASB, at 422-7803.
