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SAM - Chapter 8000

8033.3 - ADJUSTMENTS AND CORRECTIONS
(Revised 03/05)
 
  1. To properly credit your deposits, the information must be accurate, legible, and complete per the previous instructions.  Do not make corrections on the deposit slip.  If an error is made, refer to the following instructions.
     
    1. If all copies of the deposit form are in your possession, void and destroy the entire form.  Do not send voided deposits to the STO.  Prepare a new deposit form.
       
    2. If the deposit has been received by the bank and is overstated (deposit is less than the deposit form  total) prepare a check to the depository bank for the shortage amount and send it to the bank  within 24 hours.
       
    3. If the deposit is understated (the deposit is more than the deposit form total) prepare a  supplemental Report of Deposit form for the amount of the difference within 24 hours.  Indicate  the differences on lines 6 (adjustments) and again on line 9 (total deposits).  You may use section 10  to reference the prior deposit.  Send the original bank copy and the STO copy to the deposit adjustment desk of your depository bank.  The bank will send the STO copy to the Treasurer's office for credit to your agency checking account.
       
    Note:
    Bank instructions do not allow the banks to alter the deposit form.  The bank will credit the State Demand Account for the total deposit indicated on the Report of Deposit form.  The STO will post the same total deposit to your CTS account.
     
    The bank will NOT notify you if the discrepancy is less than fifty dollars.  However all discrepancy amounts must be corrected.  The STO recommends that all deposits be verified by a second person.
     
  2. If you find an error on your Centralized Treasury System statement, contact STO, Bank Reconciliation Section (for deposit errors) or Item Processing Section (for check errors).  Do not contact the bank.
     
    1. Reporting of Deposit form errors:
       
      1. If there is an item on the statement that you cannot identify, photocopy that page of your statement and highlight the line item.  Send the photocopy of the statement with a brief letter of explanation to the STO. Bank Reconciliation Section.
         
      2. If you did not receive credit for a deposit, verify that all the deposit information is complete and correct.  Then send a legible photocopy of the Report of Deposit form with a  brief letter of explanation to the STO, Bank Reconciliation Section.
         
      3. If there is a discrepancy in the amount of credit, photocopy the deposit slip and the statement  with the item highlighted.  Make sure both photocopies are legible.  Send both photocopies with a brief letter of explanation to the STO, Bank Reconciliation Section.
         
      Please send the required documentation to:
       
      State Treasurer's Office (IMMS C-15) Bank Reconciliation Section
      915 Capitol Mall
      P.O. Box 942809
      Sacramento, CA. 94209-0001
       
    2. Agency check errors:
       
      1. If there is an error on an agency check, make a legible photocopy of the check (front and back) and the statement.  Send both photocopies with a brief letter of explanation to:
         
        State Treasurer's Office (IMMS C-15)
        Item Processing Section, Room 2
        915 Capitol Mall
        P.O. Box 942809
        Sacramento, CA. 94209-0001
      NOTE:   If your correspondence includes more than one bank or type of problem, please send a separate letter for each bank or type of problem.

     
    Updated : 7/6/2007