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Business and Financial Policies and Procedures

10.6.6 Close a Change Fund

Policy Statement

If your unit's Change Fund is inactive and/or your unit no longer needs/uses a Change Fund University Bursar may close the fund.

The custodian must return the full amount of the Change Fund to University Bursar Cashier Operations when closing the fund.

Procedure

To close a Change Fund:

  1. Count and verify the Change Fund.
  2. Submit a Close Fund form. Submitting the form automatically generates an email to the unit head, supervisor, or delegate who must reply indicating whether they approve the Change Fund closure.
  3. Give the University Bursar cashier the total amount of the Change Fund. Tell them that you are the Change Fund custodian and you are closing the fund.
  4. Retain the Close Fund form and cashier receipt for your records.

Forms Used in this Procedure

Close Fund

Additional Resources

University Bursar Petty Cash & Change Funds
Change Fund Training
University Bursar office locations and hours:
   Urbana-Champaign

   Chicago
   Springfield

Last Updated: June 18, 2020 | Approved: Senior Associate Vice President for Business and Finance | Effective: February 2008

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