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Business and Financial Policies and Procedures

10.6.3 Reconcile Change Funds Daily

Policy Statement

The Change Fund custodian must reconcile the Change Fund daily. Change Funds must also be verified monthly by the unit head/supervisor or delegate. The fund custodian cannot, under any circumstances, perform the monthly counting of the cash; however, the custodian can fill out the Change Fund Verification form.

Begin

To reconcile a Change Fund daily:

  1. Complete the Change Fund Verification form.
  2. Subtract the amount of the original Change Fund from the cash sales received that day.
  3. Do not use the Change Fund to resolve overages and/or shortages in the cash sales or money received.
  4. Deposit overages with the USFSCO Cashier Office. The custodian repays shortages or they are taken from the unit's operating funds. For more information, consult What to do if...
  5. Print a copy for your records or save to your document/desktop by using the explore tool option in the upper right corner of the screen. You can 'File', 'Save As', or 'Print' using this tool.

Forms Used in this Procedure

Change Fund Verification

Additional Resources

USFSCO Petty Cash & Change Funds
Change Fund Training
What to do if...
Campus USFSCO Office locations and hours:
   Urbana
   Chicago
   Springfield

Last Updated: March 4, 2016 | Approved: Senior Associate Vice President for Business and Finance | Effective: February 2008

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