What to do if...

The unit receives funds that are a gift
Consult 11.3 Campus Processing of Gifts.

The unit receives funds for another unit, for a reason the unit is not authorized to receive funds, or the unit receives funds in error
Securely deliver the money and any envelopes or materials received with the funds to University Bursar Cashier Operations within one business day of receiving it. Do not send cash through campus mail. University Bursar will research and either deliver the funds to the correct unit or deposit into a clearing fund.

The unit thinks currency might be counterfeit
Exercise reasonable care in screening cash transactions. Counterfeit currency should not be accepted nor processed as a valid payment. If counterfeit currency is accepted and submitted for deposit, the department will be financially liable for the loss. Staff should not put themselves in danger. Do not return the suspicious bill to the payer. Report the incident to the department supervisor and University of Illinois Police.

The Change Fund

• Is lost
  If the Change Fund Custodian failed to safeguard the Change Fund or allowed it to be improperly used, the Change Fund Custodian must repay the money. If the loss was beyond the Change Fund Custodian's control, it is repaid from the unit's budget or other available operating funds. If a unit believes the funds were stolen, contact the University of Illinois Police and University Bursar Cashier Operations immediately. Consult Insurance FAQs #9 for information about crime insurance.

• Is inactive because the unit has not been using it
  There are security risks with retaining a Change Fund that is not being used. Close inactive Change Funds. Consult 10.5.5 Close a Change Fund.

• Is for a larger amount than needed
  Reduce the amount of the Change Fund by returning the excess amount to University Bursar Cashier Office. Consult 10.5.3 Change the Amount of a Change Fund.

• Has an overage
  Deposit overages with University Bursar Cashier Office. Credit overages to the appropriate unit fund on a Department Deposit form or Report of Cash Sales, Report of Money Received, or online Department Deposit form.

• Has a shortage
  Report any significant shortage or theft to University Bursar as soon as the unit discovers the shortage. If the loss appears to be due to theft or fraud, notify University of Illinois Police and the Office of University Audits. Any shortage should come out of the unit’s deposit or the appropriate unit fund.

First Published: February 2008 | Last Updated: April 2023 | Last Reviewed: April 2023