8032.5 REPORTING OF LARGE DEPOSITS
(Revised 12/06)
All money belonging to or in the custody of the State that is 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 of CTS.
In order for the STO to effectively manage compensating bank balances and maximize the return on investments, as well as comply with the collateral requirements for deposits made to the State's CTS accounts as described in SAM Section 8002, agencies must report by 1:30 p.m. to the STO, Cash Management Division, Financial Services Section, the following information:
| IF TOTAL DEPOSIT IS… |
NOTIFY STATE TREASURER'S OFFICE BY 1:30 P.M.
FINSERV@TREASURER.CA.GOV or call
(916) 653-2917 or CALNET 453-2917 |
| $100,000 or greater |
Notify STO of total deposit amount. |
| EXPECTED to be $5 Million or greater |
Notify STO of expected amount and date of deposit as soon as possible or one day in advance. |
| Unknown |
Notify STO of reasonable estimated amount. |
