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TeachMeFinance.com - explain imprest funds imprest funds 'imprest funds' is an military term meaning '(DOD) Funds issued by Army and Air Force Exchange Service (AAFES) to a military organization to purchase beginning inventory for the operation of an AAFES imprest fund activity. See also Army and Air Force Exchange Service imprest fund activity'. Previous 5 Terms: impact area impact pressure implementation_ implied task _ imprest fund- Next 5 Terms: imprint improvised early resupply improvised explosive device_ improvised mine _ in extremis- Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.