Agenda Item No. VI. A. 3.

Washburn University Board of Regents





SUBJECT: Revision to Business and Financial Affairs Handbook: Petty Cash Funds, Change Funds and Other Cash Collections



DESCRIPTION:



There is no current policy in the Business and Financial Affairs Handbook specifically related to petty cash funds or cash handling procedures. In the past, the establishment of a petty cash fund or change fund was handled through the Business Office in consultation with the Treasurer's Office. University growth, changing needs, and the desire to maintain proper management and internal controls, necessitates a formal policy related to cash funds and cash handling procedures



The attached policy for Petty Cash Funds, Change Funds and Other Cash Collections and its related procedures will become Section IV.21 of the Business and Financial Affairs Handbook.



FINANCIAL IMPLICATIONS:



None



RECOMMENDATION:



President Farley recommends the Board of Regents approve the proposed revision to the Business and Financial Affairs Handbook.





______________________ _________________________

date Jerry B. Farley, President


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