Change Funds

Temporary Change Funds

This is used for short term (no longer than one month) cash purposes.  For example change that would be needed for special events like Teacher Employment Days, Parking Services during fee payment time, Residence Life for RA's when dorms are closed.  It should not be used to purchase goods where the procurement card may be used.  No expenditures of any kind shall be authorized from a change fund.

 How to obtain a temporary change fund:

Submit a memo stating the purpose of the funds, the time frame the money will be needed for, the date to pick up the money and the dollar amount needed in specific increments. Be sure to obtain an authorized signature from a department representative who has signature authority for the department.

A cash advance form from the cashier will need to be signed by the department representative who has signature authority at the time the funds are picked up

These funds must be returned to the Cashier's Office by the time frame specified and no later than one month after the issue date.

Long Term Change Funds

This is used for departments needing cash funds to make change in doing their daily business. Change funds shall only be used for making change when cash receipts are given out for fees or fines.  No expenditures of any kind shall be authorized from a change fund.

 How to obtain a long term change fund:

Submit a check request with a memo attached stating the amount needed, the purpose, the account number to record this in, and an authorized signature to your fund accountant. A special object code will be assigned for cash on hand, and a check will be prepared to the department.

You will then need to work with the Cashier's Office to cash the check and receive the correct increments of money.  These change funds are audited yearly by the Internal Auditor's Office.