Title:	Short Term Advances (“Change Funds”)
Policy Owner:	Office of the Bursar
Applies to:	Faculty, Staff
Campus Applicability:	Storrs and Regional Campuses
Approval Date:	August 8, 2025
Effective Date:	August 8, 2025
For More Information, Contact:	Office of the Bursar
Contact Information:	cashoperations@uconn.edu
Official Website:	https://bursar.uconn.edu/departments/cash-operations/

PURPOSE

To establish a uniform controls for providing Short Term Advances to departments in conjunction with University events to ensure safeguard University assets.

APPLIES TO

This policy applies to departments seeking a Short Term Advance.

DEFINITIONS

Short Term Advance: An advance of funds issued for a period of two weeks or less for the purpose of making change for cash payments for a specified University event

POLICY STATEMENT

The Office of the Bursar has sole responsibility for issuing Short Term Advances to departments.  University departments who receive Short Term Advances are responsible for returning the funds no later than two weeks after the date of receipt of the funds.  Any department who receives a Short Term Advance is required to adhere to controls and reconciliation processes established by the Office of the Bursar.

ENFORCEMENT

Any department that does not comply with this policy shall be ineligible to receive future Short Term Advances.  Violations of this policy and any related procedures may result in appropriate disciplinary measures in accordance with University By-Laws, General Rules of Conduct for All University Employees, and applicable collective bargaining agreements.

PROCEDURES

Short Term Advances must be requested through the Office of the Bursar Cash Operations webform.  Departments must follow the procedures for safeguarding and reconciling funds as outlined on the Office of the Bursar Cash Operations website.

REFERENCES

Office of the Bursar Cash Operations website

POLICY HISTORY

Policy created: 8/18/2014

Revisions: 08/08/2025 (Approved by Senior Policy Council)

 

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