§ 37-2-55 - Imprest fund.
SECTION 37-2-55
§ 37-2-55 Imprest fund. – (a) Subject to the provisions of this chapter, any budget unit, when providedfor by appropriation or when authorized by the department of administration,may establish one or more imprest cash funds for the purpose of makingdisbursements requiring prompt cash outlay and to carry out the provisions ofthis chapter. The state treasurer, upon warrants of the chief purchasingofficer based upon a requisition from the head of the budget unit, shall pay tothe head of that budget unit the amount necessary to establish an imprest fund.
(b) A custodian shall be designated by the head of the budgetunit and certified by the department of administration after appropriateinstruction and testing as qualified to administer the fund. The custodianshall, as often as may be necessary to replenish the fund and at least onceeach month, file with the chief purchasing officer a schedule of thedisbursements from the fund, accompanied by appropriate vouchers and statementsof indebtedness therefor approved by the head of the budget unit, and by acertificate as to the condition of the fund. The amount of the total of theapproved voucher shall be paid to the custodian of the fund on the warrant ofthe chief purchasing officer and the amount shall be devoted to reimbursementof the fund. Any question relative to the amount to be allowed in any imprestcash fund, the expenditure thereof, the accounting therefor, and the repaymentthereof to the state treasurer, shall be determined by the chief purchasingofficer.
(c) The agency head shall be responsible for expendituresauthorized from those funds and the custodian shall be responsible foradministration of the fund. Each agency head and custodian shall be separatelybonded in the amount by which the total authorization for the fund exceeds thestate blanket bond for those officials.
(d) A post-audit of each imprest fund shall be conducted.
(e) Each imprest fund shall lapse with the appropriation onwhich it is based, but may be reestablished by appropriation for the nextensuing year or when authorized by the chief purchasing officer.
(f) Where work is done on public projects by the statethrough the use of its own personnel or facilities, in whole or in part, whichwork is not subject to the provisions of law for competitive bidding, thebudget unit having that work performed may, when authorized by the chiefpurchasing officer, establish an imprest cash fund for the purpose of defrayingthe expenses of the proposed project, which fund shall not exceed at any timean amount equal to twenty-five percent (25%) of the anticipated total cost ofthe project.