Section .0100 ‑ Disbursements And Records Section

Link to law: http://reports.oah.state.nc.us/ncac/title 20 - state treasurer/chapter 01 - departmental rules/subchapter c/subchapter c rules.html
Published: 2015

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SUBCHAPTER 1C ‑ INVESTMENT AND BANKING

 

 

SECTION .0100 ‑ DISBURSEMENTS AND RECORDS SECTION

 

 

20 NCAC 01C .0101          PURPOSES: FUNCTIONS: DUTIES

20 NCAC 01C .0102          DISBURSING ACCOUNTS

20 NCAC 01C .0103          RECORDS MAINTAINED ON MICROFILM

20 NCAC 01C .0104          PROCEDURES FOR DEMAND DEPOSIT ACCOUNTS

OF STATE FUNDS

20 NCAC 01C .0105          PROCEDURES FOR INTEREST‑BEARING

CERTIFICATES OF DEPOSIT

20 NCAC 01C .0106          SURVEY BONDS AND COLLATERAL SECURITIES

20 NCAC 01C .0107          FORMS

 

History Note:        Authority G.S. 147‑68; 147‑69.1;

147‑77 to 147‑79; 143A‑31; 8‑45.1

to ‑45.4;

Eff. February 1, 1976;

Repealed Eff. September 15, 1977.

 

 

 

 

SECTION .0200 ‑ GENERAL

 

 

20 NCAC 01C .0201          ORGANIZATION

20 NCAC 01C .0202          PROCEDURAL RIGHTS

 

History Note:        Authority G.S. 143A‑31;

Eff. September 15, 1977;

Repealed Eff. March 1, 1985.

 

 

 

 

 

SECTION .0300 ‑ INVESTMENTS

 

 

20 NCAC 01C .0301          TREASURER'S INVESTMENTS

20 NCAC 01C .0302          INTEREST BEARING TIME DEPOSITS

20 NCAC 01C .0303          INVESTMENTS OF TRUST FUNDS

 

History Note:        Authority G.S. 143A‑31; 147‑69.1;

Eff. September 15, 1977;

Repealed Eff. August 1, 1983.

 

 

 

 

 

SECTION .0400 ‑ BANKING OPERATIONS

 

 

20 NCAC 01C .0401          PROCESSING OF WARRANTS

 

History Note:        Authority G.S. 143A‑31;

Eff. September 15, 1977;

Repealed Eff. March 1, 1985.

 

 

 

20 NCAC 01C .0402          DISBURSING ACCOUNTS

(a)  Disbursing accounts are maintained in a manner similar

to regular checking accounts in commercial banks.

(b)  All agencies for whom a disbursing account has been

established are required to reconcile the monthly statements of the disbursing

account within 15 days of the date of the statement.

(c)  Stop payments are accepted only when submitted on the

authorized form.  At the sole discretion of the State Treasurer or his

authorized representative, stop payments by phone may be accepted in critical

situations, if the required form is submitted concurrently.

(d)  The State Treasurer shall collect all alleged forgeries

of state warrants, provided that the State Treasurer is notified of the forgery

in a timely manner.

 

History Note:        Authority G.S. 143A‑31;

Eff. September 15, 1977;

Amended Eff. March 1, 1985.

 

 

 

20 NCAC 01C .0403          RECORDS MAINTAINED ON MICROFILM

 

History Note:        Authority G.S. 143A‑31;

Eff. September 15, 1977;

Repealed Eff. March 1, 1985.

 

 

 

20 NCAC 01C .0404          PROCEDURES FOR DEMAND DEPOSIT ACCOUNTS

OF STATE FUNDS

(a)  The State Treasurer or his authorized representative

are the only persons authorized to designate a financial institution as the

depository for a state agency.  The criteria for designation of a depository

are the safety of the deposits, minimum cost of the entire set of transactions

to the state, and other factors unique to each request.  The name of the demand

deposit account shall be:  "(Name of State Treasurer), Treasurer, State of

North Carolina, Raleigh, North Carolina."

(b)  Each state agency, department or institution shall

deposit exclusively either with the Operations Section of the Department or

with a depository, as specifically instructed by the State Treasurer.

(c)  The depository's regular deposit form shall be used and

shall be headed as follows:  "(Name of State Treasurer), Treasurer, State

of North Carolina, by (Name of State Agency)."  This form which is

supplied by the depository, is completed by the agency in duplicate.

(d)  Official forms are prescribed for use by the agencies

of the state to report funds deposited in a depository to the account of the

State Treasurer.  The form applicable to the funds deposited shall be completed

by the depositing agency and shall be submitted in duplicate to the State

Treasurer certifying that the total funds as indicated have been deposited in

the depository to the account of the State Treasurer.

(e)  If the depository does not collect an item that was

previously included in a deposit and credited to the account of the State

Treasurer, the returned item is to be forwarded by the depository as a

"cash item" to the depositing agency with a request for direct and

immediate reimbursement.  The accounting procedures of the State Treasurer and

the Director of the Budget will not permit charges to the account of the State

Treasurer.

(f)  If an error is discovered in the deposit, the

depository's notice of correction shall be forwarded to the depositing agency

with a duplicate copy to the State Treasurer.

(g)  The periodic account statements of the depository shall

be forwarded to the State Treasurer for audit and reconciliation purposes.  The

statement is required even though there may have been no activity in the

account during the preceding month.

(h)  All checks, drafts or money orders made payable to an

agency, institution or department of the state shall be deposited to the

account of the State Treasurer.  Under no circumstances may an item be

converted into cash.  When an agency receives funds other than funds required

by law to be deposited to the account of the State Treasurer, such funds shall

be deposited in a separate deposit account to be administered by the depositing

agency since such funds do not come under the jurisdiction of the State

Treasurer.

 

History Note:        Authority G.S. 147‑78;

Eff. September 15, 1977;

Amended Eff. March 1, 1985.

 

 

 

 

SECTION .0500 ‑ SAFETY OF DEPOSITS

 

20 NCAC 01C .0501          SURETY BONDS AND COLLATERAL SECURITIES

20 NCAC 01C .0502          FORMS

 

History Note:        Authority G.S. 143A‑31; 147‑78;

147‑79;

Eff. September 15, 1977;

Repealed Eff. August 1, 1983.