300-15 Change Funds

Effective Date: 1/1/92 (revised 4/1/05)

Office of Origin: Controller's Office

I. Purpose

Change funds, used by cash handling stations, provide coin and currency for making change during the process of receipting and disbursing monies. This policy outlines the rules for administering change funds.

II. Definitions

Cash handling / Sub-cashiering station: a department that has been designated to collect revenue for business activities that involve cash, check, or credit card handling.

Change fund: an asset of the University, usually held in the form of coin and currency. Change funds are administered by a change-fund custodian and are used to make change for departmental cashiering functions.

Campus Cash Coordinator:  The Senior Vice Chancellor – Finance and Administration, or designee, who has responsibility for coordinating all cashiering operations on the campus.  The Campus Cash Coordinator as referred to in this document is housed in the Controller’s Office.

III. Policy

Application for a change fund shall be made to the Campus Cash Coordinator and must have approval of authorized department personnel. Requests are evaluated on the basis of purpose, accountability, security, and convenience.

A. General

1. Coin and currency held in the change fund must always equal the approved amount.

2. Cash handling /Sub-cashiering stations must have established operating procedures approved by the Campus Cash Coordinator.

B. Security/Internal Control

1. Certification by the UCSF Police Department that the custodian has been fingerprinted and that a background check has been performed is required.

2. Change funds must be kept secure from theft and other hazards. Loss or theft of change funds must be reported immediately to the UCSF Police Department and within 24 hours to the Campus Cash Coordinator, Audit Services, and Business, Administrative, and Risk Management Services.  Fund overages and shortages should be referred to the Campus Cash Coordinator for direction.

3. Change funds must be accessible for unannounced audits at all times.

4. Funds must be protected using the Physical Security Guidelines in Cashiering Police 300.14

IV. Responsibility

Contact Office of Origin (see above) with any questions.

V. Related Policies

• Critical Position Background Checks (Policy 150-18)
• Cashiering (Policy 300-14)
• Check Cashing (Policy 300-16)
• Petty Cash Funds (Policy 300-32) (under revision)

VI. References

• UC Business and Finance Bulletins: Cashiering Responsibilities and Guidelines (BUS-49); Whistleblower Policy and Whistleblower Protection Policy (G-29)
• UCSF Accounting Website
• UCSF Campus Code of Conduct
• University of California Accounting Manual: Cash and Banking Operations (C-173)