Imprest Fund

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The Faulkton Area Schools District 24-4 Board of Education establishes an Imprest Fund in the amount of $5,000 by setting aside money from the General Fund.

            All Imprest Fund expenditures shall be kept and/or approved by Business Official.

            Imprest Fund expenditures shall be made for advanced payment or claims requiring immediate payment, not to exceed the amount established by the school board. Said expenditures shall be purchases or supplies that could not be made through regular accounts payable procedures.

            A detailed account of the expenditures from the Imprest Fund shall be presented at regular meetings of the Faulkton Area Schools 24-4 Board of Education with verified vouchers, itemized and supported by receipted bills or other information as general evidence of payment, which shall be subject to audit.

            All expenditures of this account shall be listed with other bills in the regular school board minutes.