Change of Custodian
One custodian may not transfer a fund to a new custodian. The department head, however, may transfer the petty cash fund after serving notice to the Controller's Office. The fund must be counted and reconciled prior to transfer. The fund must be in balance before the new custodian accepts it. If a custodian leaves employ prior to the designation of a new custodian, he/she needs to close the fund with the Controller's Office.