Change Fund
If a division or department collects funds for the college and needs to have a change on hand for business use, a change fund may be requested from District Accounting Office.
Guidelines
1) The request for a change fund must be submitted to District Accounting Office by using a Request for Change Fund, Form FS 70. This Form is available at the Accounting Homepage of SOCCCD’s Business Services SharePoint.
2) The Revolving Fund check will be issued to the authorized custodian. The authorized custodian will be required to submit a periodic accounting of the fund.
3) Change fund shall be maintained at the amount authorized. Shortages will be the personal responsibility of the authorized custodian.
4) Change funds may be increased, decreased or closed out at any time during the fiscal year. Only the custodian is authorized to request this revision.
5) The District Accounting office can replenish change fund to provide custodian with lower denomination of bills and coins throughout the year as needed.
6) The District Accounting Office may perform periodic audits on change fund to ensure completeness and accuracy of fund.
7) The change fund shall not be used as petty cash fund, nor will it be used to reimburse an individual.
Petty Cash Fund
Saddleback College does not maintain a Petty Cash Fund. All purchases must follow regular procurement procedures.