The Imprest Fund is a fixed cash or petty cash fund in the form of currency or coin that has been advanced to a cashier as “Funds Held Outside of Treasury”, and can only be held for 5-7 days.
Before an agency considers establishing an imprest fund, the agency should first discuss that option with Fiscal Service to determine if an alternative approach might be more appropriate, given the numerous different payment options Fiscal Service makes available to agencies at no charge. The two major alternatives to consider are:
After discussion with Fiscal Service, an agency can proceed with plans to establish an imprest fund only if the agency can demonstrate that it has the legal authority to:
- Hold funds outside of Treasury; and
- Make payments using cash
See the Treasury Financial Manual, Volume 1, Part 4A, Chapter 3000, Section 30170 for more detail.
To get in touch with the Policy and Oversight Division, or for clarification on any waiver:
Policy and Oversight Division
Last modified 12/07/18