Integrated CSU Administrative Manual

CSU POLICY

Section:  GENERAL ACCOUNTING

Section 3000 Policies

Policy Number:  3102.10

Policy Title: Change Funds

Policy Effective Date: April 1, 2011

Last Revision Date: June 5, 2012
(see revision history)

POLICY OBJECTIVE

It is the policy of the CSU that funds established to support change-making activity be protected from loss. Each campus must prepare written procedures to implement this policy.


POLICY STATEMENT

Cashiering and sub-cashiering locations are responsible for the security of their change funds if such funds are authorized by the CFO.

Change funds must not be commingled with other funds. Custodianship of a given change fund should be assigned to a single individual and cannot be independently transferred to another individual.

When change funds are no longer needed, change funds will be re-deposited at the cashiering office.

The integrity of the change fund must be maintained at all times. An unannounced cash count and reconciliation of change funds for which cashiers and cash handling employees are accountable must be performed on a periodic basis by someone other than the fund custodian. The frequency of such reconciliations can be determined by the campus CFO based on the amount of funds at risk. (See Guidelines below for suggested timelines.) The rationale for determining the audit schedule must be documented. Reconciliations of cash balances must be performed in the presence of the change funds custodian and must be documented.


Benjamin F. Quillian
Executive Vice-Chancellor/Chief Financial Officer

Approved: June 5, 2012




APPLICABILITY AND AREAS OF RESPONSIBILITY

 

REVISION HISTORY

 

RESOURCES AND REFERENCE MATERIALS

Useful Guidelines:

The following audit schedule is provided as a guideline and is based on the original SAM requirements. Campuses should determine an audit schedule appropriate for their needs and sufficient to mitigate potential loss.

Audit Schedule Recommendation by size of Change Fund

Size of Fund

Frequency of Count

$200.00 or less

Annually

$200.01 to $500.00

Quarterly

$500.01 and over

Monthly

Related Principles:

 

Sound Business Practices:

 

Laws, State Codes, Regulations and Mandates:

3102.04 Physical Protection of Cash and Cash Equivalents

COGNIZANT OFFICE(S)

CO Manager:

Mr. Robert Eaton
Senior Director, Financing and Treasury
CSU Office of the Chancellor
reaton@calstate.edu

Mr. Oliver Ravela  
Banking Services Analyst, Resource Management Office
CSU Office of the Chancellor
oravela@calstate.edu

Subject Expert:

Ms. Gay Kvilhaug
Accountant II
Maritime Academy
gkvilhaug@csum.edu

Ms. Maribeth Bradberry
Accounting Manager
Channel Islands
maribeth.bradberry@csuci.edu

Ms. Nancy Suarez
Director, Student Financial Services
San Marcos
nsuarez@csusm.edu

Ms. Anna Magana
Director, Student Financial Services
Chico
amagana5@csuchico.edu

Ms. Gina Curry
Director & University Bursar
Sacramento
felicianog@csus.edu

Ms. Cora Wong
Director, Student Financial Operations
San Francisco
coraw@sfsu.edu

Ms. Caryl Vickers-Harper
Assistant Director & University Cashier
Sacramento
vickersca@csus.edu


Affinity Group:

Student Accounts Receivable (SAR)

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