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Mich. Comp. Laws § 18.1403

Definitions; I to R

1984, Act 431, Eff

Sec. 403. (1) "Imprest cash" means an account with the state treasurer into which a fixed amount of money is placed for the purpose of minor or emergency disbursements. (2) "Indirect cost" means an amount which is received from the federal government relative to administering an award, contract, or grant made by the federal government. (3) "Operating fund" means a fund in which the revenues and expenditures are subject to appropriation control. (4) "Petty cash" means a sum of money set aside on an imprest basis for the purpose of making change or paying small obligations. (5) "Receipt" means payment received.

Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.