Use and Maintenance of a Change Fund
Change funds must be maintained in a locked, secure location at all times. Access to the fund should be limited to the fund custodian and his/her supervisor.
Cashing checks from a change fund is prohibited.
Borrowing from change funds is prohibited.
Change funds should be reconciled by the custodian on a monthly basis to ensure that cash agrees to the total of the change fund. An independent reconciliation should be performed by the custodian's supervisor on no less than an annual basis. Any discrepancies should be immediately reported to the Cashier's Office.
The Cashier's Office must be notified immediately of any changes to the custodial department's name or location, as well as, the custodian or department head assigned to the fund.
On an annual basis, the Cashier's Office will send confirmations to all change fund department heads to verify fund information. Failure to respond to the change fund confirmation letter may result in automatic closure of the fund.
Questions regarding change funds should be directed to the Cashier's Office.