Imprest Bank Account - Self Assessment

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* 1. The imprest expenditure bank account is replenished from:

(a) Proceeds from departmental revenue/recoveries deposited at the bank.

(b) Cash from a petty cash fund deposited at the bank.

(d) All of the above.

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* 2. The imprest expenditure bank account is replenished:

(a) When the balance is depleted.

(b) When the balance is low, but prior to shortages.

(d) Both (b) and (c) above.

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* 3. When requesting a reimbursement to the imprest expenditure bank account:

(a) The reimbursement request form, including the original receipts, is reviewed and approved at least one level up from the custodian.

(b) The reimbursement request form, including the cancelled cheques, is reviewed and approved at least one level up from the custodian.

(c) The original receipts, cancelled cheques, and a copy of the reimbursement request form are maintained in the department.

(d) Both (a) and (c).

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* 4. The imprest expenditure bank account is used for:

(a) Payments for personal services including honoraria/guest lecture fees.

(b) Payments for personal services which are very small, non-routine and non-recurring (e.g. paying a student a nominal amount for a delivery) when the department is reasonably certain that the individual will not receive more than $500 from the University in the calendar year.

(d) None of the above.

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* 5. The imprest expenditure bank account is used for:

(a) Reimbursement of a petty cash fund.

(b) Reimbursement of travel or hospitality costs.

(d) None of the above.

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* 6. The procedure for verifying that all unused cheques are accounted for is:

(a) Numerical continuity of issued and blank cheques is verified by the person to whom the custodian reports.

(b) Unused cheques are pre-signed by only one of the two signatories (either the custodian or the other signatory) to prevent their being negotiated without first obtaining the other signature.

(d) None of the above.

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* 7. The procedure to reconcile the imprest expenditure bank statement includes:

(a) Comparing the Imprest Expenditure Bank Account Record with the bank statement monthly.

(b) Preparing an Imprest Expenditure Bank Account Reconciliation Report monthly.

(c) Having the Imprest Expenditure Bank Account Reconciliation Report approved by the person to whom the custodian reports.

(d) All of the above.