Fiscal Operations Manual
Section 400: Expenditures
A revolving fund is actually a suspense checking account and may be established when necessary for efficiency. The establishment of revolving funds must be authorized by the Controller within Business Affairs and approved by the State Treasurer. Such accounts are operated on an imprest basis, which means that the exact amount of fund expenditures is replaced periodically. See Fiscal Policy 105.100, Appendix .700: Revolving Fund Checking Accounts.