Imprest Accounts - Temporary Non Travel Cash Advance
REG 07.30.10
Financial Reporting and Accounts Receivables
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Authority: Vice Chancellor for Finance and Business
History: First Issued: November 1, 2001.
Additional References: University Controllers Website
Contact Info: University Controller (919-515-3824)
1. Purpose
This procedure provides a mechanism for a department with a short term need
to make cash payments to do so without obtaining a permanent imprest cash
fund. This procedure will be used only in those few cases when checks are
not a viable method of payment. It cannot be used for payroll disbursements
of any kind.
2. General Guidelines
2.1. The department initiates and approves a small purchase(SP) in the APPS
system with the payment payable to the custodian name with the title of
custodian affixed. Use the custodian identification number on the small
purchase transaction. The department prepares a memorandum which should
include the purpose of the advance including the calculation for the amount
being requested, and the date of the activity. The custodian of the advance
must be a permanent employee of the department. NOTE: The custodian is personally
responsible for assuring that original receipts or invoices are obtained
to support the funds expended. Recipient identification should be verified
to a photo ID by a person other than the custodian who will be disbursing
the funds. The Director of Accounting or his designate must approve the
advance request.
2.2. If the amount exceeds $500.00, the custodian should request multiple
checks or purchase traveler's checks.
2.3. If the department desires or time does not permit mail delivery, the
remittance field should be set to "Y", and the department will
be contacted for pick up; otherwise, the check will be mailed to departments
specifying the request.
2.4. The department should forward the justification plus a copy to the signed
custodial agreement (GA080) to the Imprest Account Technician in General
Accounting, Box 7203, NCSU Campus or may be delivered to the Administrative
Services Center, Room 213.
2.5. If the amount expended is less that the advance, the excess should be
deposited at the University Cashier's Office to the account number originally
charged within one day of the completion of the event or return to campus.
A copy of the validated deposit slip should be included with the reconciliation.
2.6. Within one week after the date of the activity listed on the advance
request, the custodian must prepare a cash advance reconciliation (GA081)
listing the amount received and how the funds were spent, including account
numbers and object codes to be charged. Expenditures must be supported by
original invoices or signed receipts (GA082). If expenditures exceed the
amount of the advance, an additional payment authorization should be prepared
for the difference, charging the correct account number and object code,
and a copy of the reconciliation attached to support the request. The reconciliation
must be signed by the custodian and approved by the individual responsible
for the accounts charged.
2.7. The approved reconciliation and supporting documents should be forwarded
to the Imprest Account Technician who will prepare a journal entry to distribute
the expenses and eliminate the cash advance.
2.8. If the reconciliation package includes a payment request for expenditures
in excess of the advance, the Imprest Account Technician will initial the
payment documents and forward them to Accounts Payable for normal processing.
3. Procedures
Campus offices originate the Service Unit Requisition/Invoice (see page 4
of this section) for merchandise/services to be purchased from campus service
units. The appropriate financial codes for distribution of charges must be
provided on the requisition form. If financial codes are not complete, the
service unit will contact the campus office to obtain the required financial
information.
Generally, a separate Service Unit Billing is completed for each purchase
of goods/services. However, there are instances in which the purchase of services
spans a certain length of time (e.g., purchase of services from the Computing
Center or Data Processing). In this case, the campus office may complete a
Service Unit Billing (including the financial code for the charges) and the
service unit will generate a monthly billing to the campus office for the
duration of the project/activity.
All copies of the Service Unit Requisition/Invoice should be submitted to
the service unit at the time of purchase. The service unit will complete appropriate
portions of the form and return the Departmental Copy to the customer.
Merchandise will either be picked up by the customer or delivered by the
service unit.
4. Form
GA080 - Custodial Agreement
GA081 - Cash Advance Reconciliation
GA082a - Cash Receipt Certification
GA082b - Cash Advance Record
Blank forms GA080 (Custodial Agreement), GA081 (Cash Advance Reconciliation),
GA082a (Cash Receipt Certification) and GA082b (Cash Advance Record) can be
copied or obtained from General Accounting, 515-3587, for use in requesting
and reconciling a Temporary Non-Travel Cash Advance.
