Final answer:
The installation commander approves funds storage limits as per Air Force Instruction (AFI) 34-202, maintaining oversight on the maximum cash amounts that can be kept at various locations to mitigate risk.
Step-by-step explanation:
According to Air Force Instruction (AFI) 34-202, the individual who approves funds storage limits is the installation commander. This authority is designated to set the maximum cash amounts that can be held in various locations to prevent excessive accumulation and reduce the risk of theft or loss. The instruction is part of financial governance and is applicable across various nonappropriated fund (NAF) activities within the Air Force, ensuring they maintain sound financial practices.