Admission » Tuition and Fees » Cash Management Training Session

Administrative Practice Letter I-D (PDF) requires that all individuals responsible for cash participate in a cash management training session prior to beginning their assignment and at least once a year.  The purpose of this Web site is to provide the required cash management training in a cost effective and timely basis with minimal disruption to the effected employees.

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Please submit your name, date, department and supervisor name on the bottom of the form so that you will be credited with taking the course.  Quiz questions have been embedded throughout the text of the training program.  You may back up to previous pages using your browser's back button. Your supervisor will be notified of a passing grade.

Please forward questions, concerns or problems regarding this web page to: umaweb@maine.edu

 Administrative Practice Letter I-F (PDF)

Training Session Starts Here

Please go to this page (Administrative Practice Letter I-F- PDF) and review the material and all related exhibits.

Now that you have reviewed the material please answer the following questions:

1. Checks and cash receipts should be deposited
a. within a week
b. by the end of the year
c. daily
d. when cash exceeds $500

2. The receipt of all cash must be recorded on
a. pre numbered cash receipts
b. a cash register
c. a or b
d. spreadsheets

3. When segregation of duties is not possible
a. another cashier should approve all cash deposits
b. the cashier's supervisor should approve all cash deposits
c. the department chair should approve all cash deposits
d. the department administrative associate should approve all cash deposits


Administrative Practice Letter I-E (PDF)

Please go to this site (Administrative Practice Letter I-E - PDF) and review the material and all related exhibits.

Now that you have reviewed the material please answer the following questions:

4. Petty cash reimbursements must
a. include original receipts
b. include receipt copies
c. be submitted within 90 days from receipt date
d. a & c

5. Petty cash funds are established when
a. a frequent need to pay out large amounts of cash
b. emergency situations such as travel (not to exceed $300 in cash)
c. when payment through normal acct. channels would result in delay, annoyance, or excessive expense of maintaining records
d. any expense that requires IRS reporting
e. b & c

6. Who is responsible for a petty cash fund?
a. Bursar
b. employee signing Imprest fund receipt
c. Chief Financial Officer
d. Provost

7. Petty cash is maintained on an imprest basis. This means
a. I can get money once per month
b. Fund remains constant and I'm reimbursed for actual expenditures
c. Fund amount increases each year


Administrative Practice Letter I-F (PDF)

Please go to this site (Administrative Practice Letter I-F PDF) and review the material and all related exhibits.

Now that you have reviewed the material please answer the following questions:

8. A subcontractor has been hired to perform landscaping maintenance on campus. The subcontractor is expected to receive a 1099-MISC at year end. The maximum amount that can be paid to the contractor from petty cash funds is:
a. $125
b. $300
c. $600
d. $0

9. If computerized systems or cash registers are disabled, the proper action for cash collection is:
a. Take the payment, secure it in a secure location (fireproof safe or locked file cabinet) and tell the student you will process their payment later,
b. Explain the situation to the student and ask them to return later to make payment,
c. Collect their payment and complete a two-part sequentially numbered receipt from a single bound book, retaining one copy in the book.

10. All receipts and disbursements must be controlled through chronological numbering sequences; therefore, since valid transactions are sequentially numbered, all voided receipt statements and voided checks should be destroyed.
a. true
b. false

Please put your name in the space provided below indicating you have completed the cash management training session. You will be told whether you have passed immediately after submitting the test. Only completely correct results will be submitted to the Bursar's office to verify your training.

*NAME

*DEPARTMENT

*E-MAIL ADDRESS

* CONTACT SUPERVISOR

 *required