METHOD OF DEPOSITING - 8032.2
Agencies/Departments shall maintain adequate security of state moneys in transit to banks and ensure that the deposit is delivered in the most economical way consistent with safety, agency/department needs, and SAM requirements. Agencies/Departments will use the following methods for depositing state moneys into the demand depository accounts. For a list of the approved depositories, see SAM Section 8031.
- Remote Deposit: Image Cash Letter (ICL) and Remote Site Deposit (RSD) are methods for electronically depositing check images to depository banks. ICL and RSD are available to all agencies/departments. Participating agencies/departments must access FI$Cal’s Deposit Slip Entry module to prepare and submit a report of deposit. For information on the FI$Cal deposit slip process, see SAM Section 8033. For more information on electronic deposits, see the State Treasurer’s Office (STO) website.
Agencies/Departments shall continue to comply with all applicable SAM sections regarding depositing, reporting, and correcting of deposits made to the centralized State Treasury System. For endorsement provisions, see SAM Section 8034.5. For information on non-conforming images, see SAM Section 8043.2.
In the event of a fatal file failure, agencies/departments must contact the STO, Financial Services Section immediately by email at: finserv@treasurer.ca.gov and call (916) 653-2917.
- Employee: An agency/department employee may deliver the deposit to the bank if the bank is not furnishing bank messenger service or an armored car service is not available or economically justified, and direct delivery of deposits does not subject agency/department employees to the hazard of robbery or compromise their safety.
- Teller Counter: During regular banking hours, an agency/department employee may deliver the deposit to the merchant’s window of their selected depository bank. The employee may deliver deposits to the bank in conjunction with other state duties while in the vicinity of the bank.
- Night Deposits: Most approved depository bank branches provide night depository services (after banking hours). Agencies/Departments without proper safes, vaults, money chests, or other comparable storage for safeguarding money overnight shall perform night deposits. Agencies/Departments situated in remote areas may have their employees make night deposits while on their way home at the end of the workday. For information on the frequency of deposits, see SAM Section 8032.1.
- Mail Deposits: Agencies/Departments or field representatives may deposit by certified or registered mail if the following conditions are met:
- The nearest banking facility of an approved depository is a considerable distance away.
- Visits to the bank would not be made as often as required for depositing collections.
- Coin and currency can be converted locally by purchasing a cashier’s check or money order.
The agency/department shall not deduct from the deposit the cost of cashier’s checks or money orders purchased for converted deposits. The agency/department shall pay the cost from revolving funds, cash purchase funds, or an employee’s own funds. Employees who use their own funds may claim reimbursement on a travel expense claim. Some banks do not charge for cashier’s checks or money orders purchased for state business. The agency/department employee should notify the bank that the cashier’s check or money order is being purchased on the state’s behalf and provide any evidence required for verification.
- Armored Car: If the safety of the employees or robbery is an imminent concern, agencies/departments may use an armored car service. Agencies/Departments may make special arrangements with armored car companies for armored car service during a particular collection period or when special service is required.
- Bank Messenger: When bank messenger service is available in an area, agencies/departments may arrange a pickup and delivery time for their deposits to an approved depository bank. Agencies/Departments shall place deposits in sealed bags. The bank messenger will provide a receipt when the deposit is picked up. The agency/department shall keep the receipt and any other documentation verifying the deposit. Bank messengers are restricted from picking up deposits that include coin and/or currency.
Agencies/Departments may contact the STO for more information by e-mail at: bankrec@treasurer.ca.gov or visit the STO website.