Imprest Cash Funds may be advanced to departments for change funds or, in certain limited circumstances, for petty cash to fill specific needs.
It is the fund custodian’s responsibility to safeguard Imprest Cash in a securely locked compartment, not accessible to anyone other than the custodian. Imprest Cash Funds cannot be loaned or used to cash personal checks. In addition, Imprest Cash Funds cannot be used to pay subject fees or reimburse employees for travel and hosting expenses. The University has two (2) types of Imprest Cash Funds:
Change Funds are established for the sole purpose of making change for customer sales. The authorized amount of the fund should not exceed what is needed to support cash drawer activity.
Petty Cash Fund
Petty Cash Funds are established for departmental use only in limited circumstances for incidental and emergency small-dollar purchases where the use of alternative means (including the university’s purchasing card or expense reimbursement system) is not feasible. Reimbursement for properly approved expenses may be obtained directly from the fund.