March 8, 2016
Local Unit Change Funds Policy
Local units often have a need to provide change to someone paying in cash for a purchase at the local Extension office or for registration at an Extension event. A local unit change fund policy has been created to allow for local unit change funds. Change funds must be approved by the Extension Unit Board and the Director of Extension (KSA 2-615). The change fund should be established for a fixed term, or reauthorized each year by the Extension Board at the January organizational meeting. The maximum amount in any change fund will not exceed $300. There can be multiple change funds for different events with differing amounts and duration.
Chapter 3 of the Extension Administrative Handbook, Use of Extension Funds, has been updated to include the Local Unit Change Funds Policy. Change Fund Authorization / Maintenance and Reconciliation of Change Fund forms can also be found on the Employee Resources Forms Page.
Chapter 3 of the Handbook can be accessed at:
http://www.ksre.k-state.edu/boardleadership/duties/budget/CHAPTER%203%202-2016.pdf.
The Handbook can also be accessed from the Employee Resources home page, in the Helpful Links section.
Contact Jim Lindquist at 785 532-3519, or jlindqui@ksu.edu with questions.