Departments of Saint Louis University who require cash to provide change necessary for normal operations may establish a change fund. Change funds may not be used as a petty cash fund or for expense reimbursements. The same policies and procedures apply to both permanent and temporary change funds requested for individual events/activities.
Responsibility for Funds:
A change fund is the responsibility of the head of the department or activity receiving the fund. The department head should designate one individual as the custodian of the change fund to be accountable for the custody of the funds including proper safekeeping of the fund and adherence to all applicable policies and procedures.
Audit of Funds:
Change funds are subject to periodic surprise audits by Saint Louis University internal and external auditors and by the Treasurer's Office. Change funds that are not used in compliance with this policy or which have significant discrepancies may be closed.
Questions regarding change funds should be directed to the Treasurer's Office.