[Code of Federal Regulations]

[Title 48, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR13.305-2]



[Page 220-221]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 13_SIMPLIFIED ACQUISITION PROCEDURES--Table of Contents

 

               Subpart 13.3_Simplified Acquisition Methods

 

Sec. 13.305-2  Agency responsibilities.



    Each agency using imprest funds and third party drafts shall--

    (a) Periodically review and determine whether there is a continuing 

need for each fund or third party draft account established, and that 

amounts of those



[[Page 221]]



funds or accounts are not in excess of actual needs;

    (b) Take prompt action to have imprest funds or third party draft 

accounts adjusted to a level commensurate with demonstrated needs 

whenever circumstances warrant such action; and

    (c) Develop and issue appropriate implementing regulations. These 

regulations shall include (but are not limited to) procedures covering--

    (1) Designation of personnel authorized to make purchases using 

imprest funds or third party drafts; and

    (2) Documentation of purchases using imprest funds or third party 

drafts, including documentation of--

    (i) Receipt and acceptance of supplies and services by the 

Government;

    (ii) Receipt of cash or third party draft payments by the suppliers; 

and

    (iii) Cash advances and reimbursements.