The change fund must be requested by an individual, known as a custodian. The custodian is the individual designated by the campus controller as responsible for safeguarding and disbursing from the change fund. The custodian must be a university employee with a 50% or greater appointment or affiliate fiscal staff and must be authorized by the department head and CCO.
To establish a change fund, complete a found on the PSC website. In addition, is completed for the initial amount requested for the change fund.
On the Payment Authorization form:
- For Payment Type, select Petty Cash establishment/replenishment from the dropdown list on the form (selection is used for both change funds and petty cash funds)
- The Payee Name is the custodian (e.g. John Doe, Petty Cash Custodian)
- Use your departmental address (campus box)
- Enter “to establish new change fund” in the Description field
- Use Account 000300 (Change Fund)
- Include the reason for opening the fund in the Business Purpose section—the same explanation used on the PCCF form.
- Fill out the remainder of the form as appropriate for your department, speedtype, etc. Refer to the related for more information.
Both the PCCF and PA forms are forwarded to CCO, as noted on the bottom of the PCCF form. CCO will return an approved copy of the PCCF form to the custodian, and submit the original PCCF and PA forms to the PSC for processing. The PSC will send a check to the custodian at the departmental address listed on the PA form. The custodian may cash the check at the cashier’s window in Regent Administrative Center. Note: The custodian must transport the check in a secure manner (ex. locked bag or armored car) and show picture identification at the cashier’s window. Refer to the university’s for more information.