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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 Student Financial Services and Cashier Operations (USFSCO) may close the fund.

The custodian must return the full amount of the Change Fund to the USFSCO Cashier Office when closing the fund. For example, if your Change Fund is $100, the unit must return $100 to the USFSCO Cashier Office.

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 or not they approve the Change Fund closure.
  3. Give the USFSCO 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

USFSCO Petty Cash & Change Funds
Change Fund Training
Campus USFSCO Office locations and hours:
   Urbana

   Chicago
   Springfield

Last Updated: February 19, 2016 | Approved: Senior Associate Vice President for Business and Finance | Effective: February 2008

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