DEPOSITORS' CASH - 19421
Agencies/Departments shall prepare cash receipts in accordance with the provisions of SAM Section 8020 except that agencies/departments may prepare a cash receipt or provide a statement to notify a depositor of any money received from another party for credit to the depositor’s account.
Agencies/Departments shall deposit the depositor’s cash into the agency/department’s centralized State Treasury System (CTS) account and record in Account No. 1101400 (Legacy Account No. 1120), Agency Trust Fund Cash. If authorized by statute or by approval from the Department of Finance, Fiscal Systems and Consulting Unit (FSCU), agencies/departments may deposit money in accounts outside the CTS. For a description of accounts outside the CTS, see SAM Section 8002.
Disbursements shall include the depositor’s or their guardian’s signature, unless the disbursement is by check payable to the depositor, or if provisions of law permit or court orders direct the disbursement.
Agencies/Departments shall record the receipt of depositor’s cash in the cash receipts register and record the disbursement of cash trust moneys in the cash disbursements register. For information on the cash receipts register and cash disbursement register, see SAM Sections 8093 and 8094, respectively. Agencies/Departments shall record cash receipts and disbursements of money in the Trust Deposits Ledger, which is a subsidiary of Account No. 2060000, (Legacy Account No. 3510), Deposits-General throughout the month to maintain the current balance of each depositor’s account.
On a monthly basis, agencies/departments shall reconcile the Agency Trust Fund Cash account in the CTS and balance the Trust Deposits Ledger with the Deposits-General account. Agencies/Departments will periodically review the accounts outside the CTS during the fiscal year to ensure compliance with legal authority or FSCU approval, and to ensure the account balances do not exceed the limits set by the Federal Deposit Insurance Corporation or the National Credit Union Administration.