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20.03 - Establishment and Use of Change Funds


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Last updated: September 16, 2016

A. General. Certain departments on campus require monetary change making capabilities to support business activities. These activities may include charges for services (e.g., photocopies, laundry facilities, computer printouts, etc.) or retail sales (e.g., athletic events, theater, special programs, bookstore, meat lab, golf course, etc.).  

A-1. Prohibition against Check Cashing. The change funds are established for making change for university business activities only. These funds are not to be used for check cashing purposes. Fund custodians, are not to write personal checks or accept IOUs against the change fund. These funds are subject to internal audit on a periodic basis. [See 20.02 for check cashing services provided at the Cashiers window.] [rev. 9-16]

B. Procedure for establishing a Change Fund. When a unit administrator determines that a change fund is required for a campus operation, he or she should send a written request to the Controller's Office. The request should include a re-commended amount for the fund and a brief description of the activity requiring a change fund, the name of the designated custodian and how the fund will be secured. Upon approval by the Controller's Office, a check will be issued by the cashier's office to the requesting department. Unit personnel should endorse the check and request the type(s) of currency and coin required from the cashier's office. [ed. 9-16] 

B-1. General Ledger Posting. The amount of the change fund will be charged against a unit fund and will be posted into Controller's Office general ledger as 'Change Fund Outstanding'. [ed. 9-16] 

B-2. Termination of Change Fund. Upon termination or transfer of business activities, the owning unit must deposit the proceeds with the cashier's office and identify the funds as 'returning change funds'. [ed. 9-16]

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Campus Locations

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Bruce M. Pitman Center
875 Perimeter Drive MS 4264
Moscow, ID 83844-4264

Phone: 208-885-6111

Fax: 208-885-9119