To provide for the establishment of change funds:
Departments who routinely process cash transactions may request the establishment of a permanent change fund. The State of Kansas policy K.S.A. 75-3078* on change funds (to be maintained in the form of cash) is that these funds are established exclusively for the making of change when receiving amounts due to the state.
Change funds are not to be used for check-cashing, to provide a loan, or to make a payment. The cash of the change fund is not to be commingled with the cash of any employee, but is to be maintained in a businesslike manner in an approved location with adequate security.
University units must deposit all receipts, in total, with Accounts Receivable within one business day. Monies may not be withheld from deposits to be used as a change fund, petty cash, or to cash checks.
Change funds are subject to audits at any time (without notice) by Accounts Receivable staff and/or State of Kansas auditors.
- Submit Application to Establish Change Fund DA-74* to Accounts Receivable in Room 201 Jardine Hall.
- After approval by Accounts Receivable, the application will be submitted to the Director of the Division of Accounts and Reports.
- When the change fund has been approved by the Director of Accounts and Reports, the University will be notified.
- Monies to establish the change fund will be provided as starting cash to the custodian.
- It is the custodian's responsibility to submit the Reconciliation of Change Fund DA-75* form and the Record of Long or Short form DA-76* to Accounts Receivable by the 15th of month. This should reflect the previous month's activity.
- All longs and shorts need to be addressed immediately with Accounts Receivable by completing the Record of Long or Short form DA-76*.
- Change in the custodian, alternate custodian, supervising employee, or University unit head requires an updated Application to Establish Change Fund (DA-74)* be submitted to Accounts Receivable.
- For the establishment of a temporary change fund for a short term event, please request a Cash Box.
The purpose of the imprest fund is to provide for transactions which demand immediate attention. In general, the imprest fund is to be used in exceptional situations only.
- Always plan in advance. When possible, state-issued checks should be used for all payments which can be processed in three to five business days.
- Imprest fund is NOT a method to avoid state or federal reporting requirements.
- As an alternative to using imprest, if a cash payment to a participant is preferred, try to include the distribution of this participant payment as part of services provided by an alternate agency and then WSU will issue a state check to the agency for these payments.
Imprest fund can be used when:
- Imprest funds are available (Financial Operations will confirm)
- Requestor has no other outstanding imprest fund requests
- Payment REQUIRES immediate attention
- Correcting a WSU error on an employee's payroll payment. A $100 administrative fee will be assessed for each request. See WSU Policies and Procedures 13.07*
- Imprest funds can never be used to make payments to a business or corporation
- Imprest funds can be used when the individual participant payments are less than $25 and the participants are not known until the date of the activity.
- Submit Imprest Fund Check Request Form to Accounts Receivable to Room 201 Jardine Hall or mail to Accounts Receivable, Campus Box 38.
- Certificate of Expense must be completed and returned with an ICD for reimbursement of the Imprest Fund from the paying fund. Each participant receiving payment must sign this document.
- State and federal tax rules must be followed.
- Form W-9* must be completed for all individuals receiving payment - no matter the amount of the payment.
- Payments made to non-US residents MAY require withholding.
* This link leaves the WSU Accounts Receivable website.