BANK RECONCILIATION - 7923

Agencies/Departments will reconcile their General Cash, Revolving Fund Cash, and Agency Trust Fund Cash accounts with their Centralized Treasury Trust System Account Statement (CTS statement). When agencies/departments account for more than one fund in a bank account, agencies/departments will identify the fund’s share on the bank reconciliation. The reconciliation must identify and describe each reconciling item between the bank and the agency/department’s records. Agencies/Departments shall retain CTS statements and monthly reconciliations for at least two years. See SAM Section 7901.

SCO provides a monthly CTS statement to agencies/departments that includes a sequential listing of the following items by transaction date, document number, and amount:

• Checks paid
• Transfers of Funds (i.e., TC47 SCO transaction code entries)
• Deposits

To determine the total outstanding checks amount, agencies/departments will compare the check listing on the CTS statement to the agency/department records. The outstanding checks amount on the reconciliation will be supported by a list showing the check number, date, and amount of each outstanding check.

To determine the transfers and deposits in-transit amount, agencies/departments will compare the transfers and deposits listing posted on the CTS statement to the agency/department records. The in-transit transfers and deposits on the reconciliation will be supported by separate lists showing the document number, date, and amount. Agencies/Departments will attempt to resolve deposits in transit over 30 days.

Errors on the CTS statement must be corrected as provided in SAM Section 8060.

Note:

Agencies/Departments can access and print images of their agency checks through the STO statewide Agency Paid System. To access the Agency Paid System, agencies/departments shall complete the STO’s User ID Assignment/Removal Form STO-IP 130. Contact the STO Item Processing Section at Item.Processing@treasurer.ca.gov for more information.