OVERDRAFTS - 8047

Agencies/Departments shall make every effort to prevent overdrafts in their centralized State Treasury System (CTS) accounts. This includes the agency/department's bank balances and the State Controller's Office (SCO) balances.

Agencies/Departments shall observe the following principles to help prevent overdrafts:

• Deposit collections promptly. See SAM Section 8030.
• Complete and finalize deposits in a timely manner. Enter deposit slips into FI$Cal on the date of the deposit, or send appropriate hard copies of the Reports of Deposit (ROD) to the State Treasurer's Office (STO) and the SCO on the date of the deposit. The STO credits the agency/department's CTS accounts from the FI$Cal deposit slips or ROD copies rather than from records of the State Treasurer's depository banks, which maintain only consolidated Active Trust Accounts. For more information about ROD copies, see SAM Section 8033.2
• Do not draw checks against cash received but not yet deposited.
• Schedule claims for reimbursement of the revolving fund promptly. For information about the reimbursement of the revolving fund, see SAM Section 8422.108.