Working Funds

Cash Management

30.06         Working Funds                                                                                  Issued: May 15, 1998

1.     Purpose

        The purpose of a working fund is to provide a department transacting cash sales with the
        necessary cash to give change to customers.

2.     Establishment

        To establish a Working Fund, the requesting department must submit a written request with
        proper justification to the Vice President for Finance and Administration (VPFA). Upon
        review and approval by the VPFA, the request is forwarded to the President for final

3.     Issuance

        Upon receipt of the approved request, the Manager of Treasury Services in the Fiscal
        Office will require the responsible person for the fund to sign a responsibility statement
        (Attachment 1) prior to issuing the fund.

4.     Random Test Counts

        Periodically, the Head Cashier will conduct random test counts of approved working funds
        to verify that they are properly secured and that all funds are accounted for.

5.     De-establishment of Fund

        Departments no longer requiring the use of a working fund should contact the Manager of
        Treasury Services to de-establish the fund. Departments failing to properly secure and/or
        account for the fund may be required to de-establish the fund.  

Contact:     Manager of Treasury Services


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