REPORTING OF LARGE DEPOSITS - 8032.5
All money belonging to or in the custody of the state deposited in banks, savings and loan associations, or credit unions must be secured by collateral as described in SAM section 8002. This requirement applies to all accounts, whether held inside or outside the Centralized State Treasury System (CTS).
Agencies/departments must report deposit information using the deposit type and deposit amount specified in the table below to the State Treasurer’s Office (STO), Centralized Treasury and Securities Management Division, Financial Services Section by 1:30 p.m. Pacific Standard Time (PST) on the day of the deposit. This will allow the STO to effectively manage compensating bank balances, maximize return on investments, and comply with collateral requirements described in SAM section 8002.
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IF THE TOTAL DEPOSIT IS…. |
NOTIFY STATE TREASURER'S OFFICE BY 1:30 P.M. PST OR CALL (916) 653-2917 |
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$100,000 or greater |
Notify STO of the total deposit amount going to the depository bank. |
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EXPECTED to be $5 Million or greater |
Notify STO of the expected amount and date of deposit going to the depository bank as soon as possible or one day in advance. |
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Unknown |
Notify STO of the reasonably estimated amount to be deposited at the depository bank. |
EXCEPTION:
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State-Issued Items totaling $5 Million or greater:
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See SAM section 8032.7, Remitting of State Issued Items Totaling $5 Million or Greater. |