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Receipt for revolving fund advance - University of Washington Bothell

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The document is a receipt form for a cash advance from the University of Washington's Financial Services. It includes sections for recording details of the advance, such as the fund name, date, amount received, and items to be purchased. The form requires certification from the requester and outlines the obligation to return and account for the advance within a specified number of working days.

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What is the process of revolving fund?

A revolving fund account (sometimes referred to as an imprest fund) is established by the legislative body for specific amounts and uses. As funds are spent, they are replaced to their codified level by a check or warrant drawn and charged to the applicable fund. This is the revolving aspect of such accounts.

What is office revolving fund?

One such form is a revolving fund, which authorizes an agency to retain and use specified receipts for particular purposes. Revolving funds are intended to finance cyclical, business-like operations.

What is a revolving fund check?

Revolving fund (RF) check issuance is strictly limited to providing immediate payment for one-time emergency needs which must be resolved in less than one business day, such as those related to immediate health and safety concerns.

What are the benefits of revolving funds?

Revolving funds serve as a reliable source of working capital, ensuring that companies have access to liquidity for day-to-day operations, such as inventory management, payroll, and other immediate financial requirements. By maintaining a revolving fund, businesses can better navigate periods of cash flow volatility.

Is a revolving fund a cash?

Definition. A revolving cash fund is a specific amount of money used to purchase inexpensive items. It is called revolving cash because as money is expended it is constantly being replaced.

What is the other name for revolving fund?

A revolving fund account (sometimes referred to as an imprest fund) is established by the legislative body for specific amounts and uses.

What is the meaning of revolving fund received?

A revolving fund is a fund or account that remains available to finance an organizations continuing operations without any fiscal year limitation, because the organization replenishes the fund by repaying money used from the account. Revolving funds have been used to support both government and non-profit operations.