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Change funds are to be used
exclusively for making change in receiving amounts due to the university. They
are authorized for official purposes only and may not be used for check
cashing, loan purposes nor petty cash fund uses. University departments must
deposit all receipts, in total, with the Bursar’s Office on a routine basis.
Monies may not be withheld from deposits for use as change fund, petty cash
funds nor to cash checks. Change funds are authorized by K.S.A 75-3078 and
are approved by the Director of Accounts and Reports, State of Kansas.
Temporary
Change Funds
Departments may request the establishment
of a temporary change fund for a short-term event. The department is to make
the request to the Bursar’s Office in writing on departmental letterhead or
an email from an authorized person in the department. The request should
include the activity for which the cash box is needed, the dates of the
activity, the dates to be pick up and returned, and the amount of money in
the desired denominations. The department will be contacted when the cash box
is ready to be picked up. The cash box must be returned in tact with the same
amount of money being returned as was received. Shortages must be made up by
the department.
Permanent
Change Funds
Departments who routinely process
cash transactions may request the establishment of a permanent change fund.
The change fund monies will come out of the University’s Imprest fund. This
cash is not to be commingled with funds of any employee, but is to be
maintained in a businesslike manner in an approved location with adequate
security.
To request a change fund, the
department must fill out form DA-74: Change Fund Maintenance. Check
“Establish new fund”. For agency name write KU, followed by the department’s
name. List the amount requested, proposed location, source and amount of
revenue, security provided and the designated employees. Do not sign in the
“Agency Authorized Signature” area. Forward this form to CASPUR for
processing to the state. When approved, CASPUR will issue a check payable to
the change fund custodian.
This same form is to be submitted
to request a change in amount and each time there is a change in custodian,
alternate custodian or supervising employee.
Daily, the change fund must be
counted and a daily record maintained of cash “long” or “short on the form
DA-76: Record of Cash “Long” or “Short”.
Prepare form DA-75: Reconciliation
of Change Fund when:
·
Any
shortage approaches $100; or
·
At
the end of each month; or
·
As of
June 30 of each year, regardless of “long” or “short” condition
This form is to be submitted to
CASPUR.
If the change fund is short, the
department is to prepare a voucher payable to “Custodian of Change Fund No.
_____” to replenish the fund.
Overages should be deposited into
the department’s revenue fund.
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