13.305-1 General
Source: FAR 13.305-1 on acquisition.gov
Imprest funds and third party drafts can be used for procurement, but must be managed in strict accordance with Treasury, GAO, and agency-specific financial regulations.
Overview
FAR 13.305-1 outlines the general authorization for using imprest funds and third party drafts to acquire and pay for supplies or services in government contracting. It directs contracting professionals to follow established policies and regulations for the establishment, use, and accounting of these payment methods. The section references key external guidance documents, including the Treasury Financial Manual, GAO Policy and Procedures Manual, and agency-specific regulations, as well as the Manual of Procedures and Instructions for Cashiers. These documents detail the responsibilities of designated cashiers and alternates, ensuring proper management and accountability of government funds. This section serves as a gateway, emphasizing adherence to broader financial management standards when using these payment mechanisms in procurement.
Imprest funds and third party drafts may be used to acquire and to pay for supplies or services. Policies and regulations concerning the establishment of and accounting for imprest funds and third party drafts, including the responsibilities of designated cashiers and alternates, are contained in PartIV of the Treasury Financial Manual for Guidance of Departments and Agencies, Title 7 of the GAO Policy and Procedures Manual for Guidance of Federal Agencies, and the agency implementing regulations. Agencies also shall be guided by the Manual of Procedures and Instructions for Cashiers, issued by the Financial Management Service, Department of the Treasury.