Establish a Change Fund
Before You Begin
A change fund is to be used only for making change for cash sales. Change funds are issued only to authorized cash handling units.
If your unit needs extensive change funds (for example, large operations such as Housing or student centers/unions), your unit may use its own cash, with the approval of your campus OBFS executive officer. Otherwise, all change funds are authorized and issued by University Student Financial Services and Cashier Operations (USFSCO).
To establish a change fund:
- The unit head designates one employee as custodian of the change fund.
- For any fund greater than $1,000, obtain the approval of your campus OBFS executive officer.
- The custodian completes a Request New Fund form which is online at the USFSCO Petty Cash & Change Funds website. Select "Change Fund" as the fund type. Indicate why your unit needs a change fund and how much you need for daily activities.
Submitting the form automatically generates an e-mail to the unit head who must reply indicating whether or not they approve establishing the change fund.
- Custodians must complete online training.
- Follow the instructions on the Request New Fund form to approve and submit the new fund request.
Last Updated: October 21, 2011 | Approved: Senior Associate Vice President for Business and Finance - February 2008