Change Funds

 Change funds are authorized for projects that need to collect cash and give change to clients. All change funds must be approved by the University Controller. It is not appropriate to withhold collections for use as change or petty cash funds.

  1. Change funds should not be used to purchase goods and services. 
  2. Once approved, the change fund should remain at a constant amount. 
  3. Change funds should be controlled at all times and, when not in use, stored in a safe or locked drawer and in an area accessible by designated personnel only. 
  4. The form provided as ATTACHMENT IV-5 (PDF) is used to request approval for the use of change fund and assign responsibility for its use and safe keeping.