Louisiana Revised Statutes 39:242 – Imprest funds
Terms Used In Louisiana Revised Statutes 39:242
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Appropriation: means an authorization by the legislature to a budget unit for a program to expend from public funds a sum of money, for purposes designated, under the procedure prescribed in this Chapter. See Louisiana Revised Statutes 39:2
- Budget unit: means any spending agency of the state which is declared to be a budget unit by the division of administration and which is identified for accounting purposes by a five-digit number code. See Louisiana Revised Statutes 39:2
- Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
A budget unit may be granted authority by the commissioner of administration to establish an imprest fund drawn upon the working capital appropriation issued to the state treasurer for the purpose of making disbursements requiring prompt cash outlay. The custodian of the imprest fund, as often as may be necessary to replenish the imprest fund from the agencies’ established operating appropriation and allotment, shall prepare a schedule of disbursements therefrom accompanied by appropriate vouchers and statements of indebtedness therefor, and by certificate as to the condition of the imprest fund. Payment in reimbursement of the imprest fund shall be in the form and manner prescribed for other payments in this Chapter in the amount of the total approved vouchers. The payment shall be made to the custodian of the imprest fund and shall be devoted to reimbursement thereof. Any question relative to the amount to be allowed payment thereof shall be determined by the commissioner of administration. Imprest funds advanced from any fund shall be carried on the general books of the state as an asset of the fund. Upon the determination that the need for the imprest fund no longer exists, such funds shall be remitted back to the state treasurer’s office in the full amount advanced within ninety days.
Added by Acts 1982, No. 726, §1.