Accounting Services

Change Funds

Temporary Change Funds

Temporary change funds may be requested to meet short-term cash needs, where change is needed for an event lasting less than one month. Temporary change funds are not to be used to purchase goods or services. No expenditures of any kind may be made from temporary change funds.

How to obtain a temporary change fund

Submit a memo to the Cashier’s Office stating the purpose of the fund, the time frame the money is needed and the dollar amount needed in specific currency or coin denominations. The memo must be signed by an individual who has signature authority for the organization requesting the fund.

The Cashier’s Office will issue a cash advance for the amount of the fund. The individual picking up the cash advance must be an authorized signer for the organization and will be required to sign the cash advance form.

A temporary change fund must be returned to the Cashier’s Office by the time frame specified in the memo and no later than one month after the issue date.

Long-Term Change Funds

Long-term change funds may be requested when an organization needs cash to make change as part of its daily operations. These funds may only be used for making change and are not to be used for expenditures of any kind.

How to obtain a long-term change fund:

Submit a Check/EFT Request with a memo attached stating the purpose of the fund and the dollar amount needed. The Check/EFT Request and memo must be signed by an individual who is an authorized signer on the FOAP to be charged.

Accounts Payable will prepare a check payable to the organization and the check is to be cashed at the Cashier’s Office.

Long-term change funds are audited annually by the University’s Internal Auditor.