The advance represents a loan to the department for the purpose of making change. The amount of a Change Fund remains constant and does not require periodic reimbursement. Change funds may not to be used to make petty cash disbursements or other cash advances. The funds are issued to the Department in the name of a custodian for the fund. The Bursar's Office must be notified whenever a change of custodian occurs.
Controls are in effect to restrict access to and ensure proper accountability of the change fund.
Lockable container that is difficult to move. Periodically changing the combination or keys to lockable container especially following employee turnover. Re-depositing funds with the Bursar s Office when all or part of the change fund is not required for a short time. Processing Procedure .310 Department Prepares and submits a request for a Petty Cash Change Fund to the University Bursar. Amount of request.