Integrated CSU Administrative Manual

CSU POLICY

--INACTIVE HISTORICAL POLICY--

Section:  GENERAL ACCOUNTING

Section 3000 Policies

Policy Number:  3102.10

Policy Title: Change Funds

Policy Effective Date: April 1, 2011

Last Revision Date:  
(see revision history)

POLICY OBJECTIVE

It is the policy of the CSU that campuses shall establish written procedures that maintain an adequate system of internal control to protect change funds from loss.


POLICY STATEMENT

Cashiering and sub-cashiering locations shall establish Change Funds as required to support change making activity.

Cashiering and sub-cashiering locations are responsible for the security of their change funds.

Accountability for change funds shall be assigned to an employee who is designated as the change fund custodian.

Change funds should not be commingled with other funds.

When change funds are no longer needed, or upon termination or departmental transfer of the custodian, change funds will be re-deposited at the cashiering office. Transfer of funds to a successor is not authorized. If a successor is to be furnished a change fund, a new request is required.

The integrity of the change fund must be maintained at all times.  Reconciliations of change fund balances shall be performed on a regular basis as determined by the campus CFO or delegate.

An unannounced cash count and verification of change funds for which cashiers and cash handling employees are accountable shall be performed on a periodic basis as determined by campus procedure by someone other than the fund custodian. Verification 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: February 4, 2011




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 are requested to 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:

 

COGNIZANT OFFICE(S)

CO Manager:

Mr. Sean Boylan  
Cash Management Operations Officer, Resource Management Office
CSU Office of the Chancellor
sboylan@calstate.edu

 

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

Subject Expert:

Ms. Gay Kvilhaug

Ms. Maribeth Bradberry

Ms. Nancy Suarez

Ms. Jan Burnham

Ms. Gina Curry

Ms. Cora Wong

Ms. Caryl Vickers-Harper


Affinity Group:

Student Accounts Receivable (SAR)

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