Imprest Account

Definition of Imprest

An imprest is a sum of cash advanced to an Officer to meet payments which are otherwise inconvenient to disburse through the normal payment procedures.

Classes of Imprest

Imprest is of two classes, namely:

  1. Standing Imprest, held throughout the financial year and replenished as and when necessary by the presentation of receipt and petty cash vouchers; and

  2. Special Advance, is normally issued for making a particular payment, or group of payments which must be fully retired by the date specified in the approval.

Application for Standing Imprest

  1. Application to keep a Petty Cash Account or Standing Imprest shall be made by Provosts/ Deans/ Directors/ Heads of Department/Section/Unit/Centre to the Director of Finance

  2. The amount allocated to an officer as imprest shall be determined by the pattern of expenditure in his/her department by the Director of Finance

  3. Applications for an increase in the amount of a current imprest may be submitted to the Registrar. Each application shall, however, be considered on its own merit.

Imprest Holders to Keep a Register

All imprest holders shall keep a Register showing the amount received as imprest and how it has been used. The Register shall be forwarded to the Directorate of Internal Audit for examination whenever the imprest is being recouped or retired.

The Register of Imprest holders are also subject to examination by the Director of Finance.

Monies which may be taken into Imprest Account are those which have been specifically drawn for imprest purposes under due authority. Any other monies received or handled by imprest holders shall be accounted for separately and shall not form part of their imprest account.

Special Advance

There are two types of Special Advance; namely:

  1. Special Advance Granted for Purposes other than Research: This must be accounted for in full within one month or when the service has been performed whichever is earlier 
  2. Special Advance for Research: This must be accounted for through the Head of Department concerned to the Director of Finance or the approving body within which the activity is completed.

Consideration for Special Advance

Application for Special Advance shall be considered only:

  1. Where credit facilities are not obtainable from the supplier of the goods or services

  2. Where an item or service is urgently required and can only be paid for by cash

  3. Approved Special Advance shall only be used for the purpose for which approval was given. Change of purpose will constitute misconduct.

All applications for Special Advance shall normally be supported by not less than three pro-forma invoices from VAT Registered Suppliers and shall give details of the amount required and the purpose for which it is required.

Responsibility of Imprest Holders

Imprest holders shall observe all regulations regarding the control of expenditure and disbursement of the University monies. It is unlawful and irregular for imprest holders to use imprest monies for any purpose other than the purpose for which it was granted. Imprest holders are not absolved from the responsibility of accounting for their imprest until vouchers supporting all expenditure have been examined and found correct.

Recoupment and Retirement of Imprest

Imprest holders may recoup their imprest from time to time when the amount is almost or completely exhausted.

  1. In recouping the imprest they shall submit all receipts and vouchers first to the Directorate of Internal Audit for examination, then to the Director of Finance or his/her representative who shall in turn prepare a voucher for the reimbursement required

  2. All standing imprests shall be retired on or before the last day of the University's financial year for which they were issued. All imprest holders shall retire their imprest before they can be issued with fresh imprest at the commencement of the ensuing financial year

  3. In the case of a Special Advance, the amount shall be retired as soon as the expenditure has been incurred and on no account shall a Special Advance be retained for more than one month. Failure to retire a Special Advance within the stipulated time, without good reason, known and acceptable to the Director of Finance, shall be considered misconduct.