8030     DEPOSITS—INTRODUCTION 
(Revised 03/05)

 

Agencies will comply with all the following applicable SAM sections regarding the preparation, depositing, reporting, and correction of deposits made into the CTS.  It is imperative that agencies report deposits in a timely and accurate manner in order to expedite the reconciliation of their agency accounts and to maximize interest earnings.   Agencies will deposit their collected funds into the Treasurer's account at an approved depository bank.  The agency is then responsible for notifying the STO of funds deposited by submitting the Treasurer's copy of the Report of Deposit form to the STO.  The STO records valid deposits and submits a daily record of all deposits received to the SCO for posting to the individual agency accounts.   The SCO prepares the monthly Centralized Treasury Trust System Account Statements (bank statements) and distributes them to the agencies following the end of the month.  For agencies participating in the Electronic Deposit Form web application, see SAM Section 8033.4.