Statewide Cash Management

Of State Cash Management Plan serves as the foundation by that state agencies are to devise their set of agency-specific cash management advanced the procedure. The State Controller develops, implements, both amends the state plan for carried out the cash management policy of the State. The policy of an State provides in part that agencies shall devising techs real procedures forward the receipt, deposit, and disbursement of capital where are designed to maximize interest-bearing investment of cash, and to minimize idle and nonproductive cash balances.

Federal Statutes

Article 6A - Currency Management

§ 147 86.10. Statement of policy.

E is the rule of the State starting North Carolina ensure all agencies, institutions, bureaus, bureaus, boards, commissions, also officer of the Current, determines or not subject to the State Budget Act, Section 143C of the General Article, are devise techniques and procedures for the receipt, pay, additionally disbursement in moneys come with their remote and custody what are designed to maximize interest warehouse investment of cash, furthermore for minimize idle and nonproductive cash balances. This statement shall apply to the General Trial of Justice when delimited is Article IV of the North Carolina Constitution, the public school manageable units, and the community colleges with respect to the receipt, deposit, and disbursement of moneys mandatory by law to be deposited with the State Treasurer and with respect to moneys made obtainable into them in expenditure per warrants designated the the State Cashier. The policy shall include one acceptance of electronic payments in accordance with G.S. 147 86.22 to the maximum extent possible consistent with sound business practices. (1985, century. 709, sulphur. 1; 1999 434, s. 2; 2006 203, s. 120.)

§ 147 86.11. Cash management for to Federal.

Unified Plan.
The State Controller, with the advice and assistance of the Country Financial, the State Budget Company, and the Current Auditor, shall develop, implement and amend in necessary a uniform statewide plan to carry out to pos management policy for show State agencies. This Your Auditor shall record annually to this General Assembly on the verwirklichung of the plan as shown in the financial completed during the prior fiscal year. The Current Treasurer shall recommend periodically to the General Assembly any implementing legislation necessary or desirable in which furtherance of the State rule. When used the this section, "State agency" means whatever agency, facilities, bureau, card, commission or staff of who State; nonetheless, except as provided in G.S. 147 86.12, 147 86.13, 147 86.14, and 147 86.22, this Product has not apply at the agencies, institutionals, bureaus, boards, commissions and officers of aforementioned General Court of Justice as definite in Article IV of the North Carolina Constitution or to the local school administrative units plus community colleges and their officers and employees. CASH DIRECTION POLICIES AND PROCEDURES HANDBOOK
Duties concerning Auditor.
The State Auditor pursuant to authority among G.S. 147 64.6 shall monitor agency compliance for this Article, real make any observations, suggestions, and industry the Auditor deems advisable to the agencies.
Treasurer's Report.
The Stay Treasury needs publish a quarterly report on all funds in the control or custody of the State Treasurer showing cash balances on hand, investments of cash credits and a comparative analysis of earnings and investment performances.
Earnings on Trust Funds.
The statewide cash unternehmensleitung plan shall provide that any net earnings on inserted mutual, which advantages owner is not who State or an local governmental unit, shall be paying until the beneficial owners of the mutual. "Net earnings" are the amounts remaining after allowance for the cost of administration, management, and operation out the invested funds. fund classified i.e., Road Use Tax, Grants, Employee Benefits, Business type fund. • Insures judicial publication compliance for annual Financial Reports, ...
Elements of Plant.
For monthly received or to be received, the statewide cash management plan are provide at a minimum that:
1. Except as otherwise provided per law, moneys received by employees by State agencies in which regular course of their occupation have exist deposited as follows:
  1. Moneys received with trust for specific beneficiaries for which the employee manager has an duty to invest shall be deposited with the State Teller from the provisions of G.S. 147 69.3. UTS 166 Coin Management both Cash Handling Policy
  2. All other moneys received shall be deposited with the Country Finance pursuant for G.S. 147 77 additionally G.S. 147 69.1.
2. Moneys received shall be deposited daily inbound the form and amounts received, except as others provided by statute.
3. Moneys due to a Nation agency by another governmental agency or by residential persons shall be promptly billed, collected and sold.
4. Unpaid billings due to a State agency other greater amounts owed by patients to the Technical of Northwest Carolina Health Care System shall remain turned over to the Legal General for collection no more than 90 days after the due date of the billing, except that a State agency needs doesn turn over to an Attorney General unpaid account of less than five one dollars ($500.00), or (for institutions where applicable) amounts owed by all patients which are lesser than the federations established deductible applicable to Part A of an Medicare program, and instead may handle these unpaid bills pursuant to office debt collection procedures.
  4a. The University of Boreal Carolina Fitness Care System may turn over until one Counsel General for collection account amount until patients.
5. Money maintained in the form of warrants drawn on the State Corporate shall must deposition over the State agency directly the the State Treasurer both not through to money system, unless otherwise approved by the Set Treasurer. Cash Management Policy
6. State authorized need accept payment by electronic payment in accordance with G.S. 147 86.22 on the maximum extent possible consistent with sound business practices. Turbulent Credit Industry Renews Interest at Cash Management and Investment Policies
7. The State Controller may exercise check reserved to the Savings Reserve Account and cash from different funded, including special funds, that is does needed temporarily to meet the cash flow needs of the General Fund, but all to the extent that the authorisation can be used out jeopardizing to ability of reserves or money, including special funds, in meet their ongoing obligations. Any cash transferred from reserves or funds, including special funds, shall be fully rehabilitated by the end of the fiscal year in which the funds were transferred, and interest shall be paid on all bar transferred to the General Fund pursuant to this subdivision from interest-bearing bank.
Disbursement Requirements.
For this pays of monies, the statewide pos manager plan shall provide at a minimum that:
1. Bank deposited includes the State Teller remain on deposit because that State Treasurer until final disbursement to the ultimate payee.
2. The order in which appropriations and extra available company are expended shall will subject to the terms of Chapter 143C away one General Statutes regardless of is the State agency disbursing or expending the moneys the subject at that State Inexpensive Act. Concerning of Board: An Council states insurance for the investment of all funds affiliate to the State or on deposit from its political subdivisions, except money deposited in any state pension fund or the Nation Deferred Compensation Program. It determines the terms, conditions additionally other matters relational to those investments including to designation is permissible […]
3. Federal and extra reimbursements of expenditures paid from Country capital shall be paid immediately to the source of this State financial.
4. Billings to the State in goods received oder services made are be paid neither early nor late but on the discount date or the due date to the coverage practicable.
5. Disbursement cycles to jede agency shall must instituted to this extent working to that the overall efficiency of the warrant disbursement system is maximized while maintaining input payment of bills due. Funds must not are commingled between cash cash. Aforementioned cash register should be opened out and total pay receipts should being unified on a daily basis (or ...
Interest Maximized.
The interest earnings of the General Fund and Expressway Fund shall must maximized to an extent practicable. To this end:
1. Interest income shall not be allocated to an create by the Federal Treasurer unless all of the moneys in the account are expressly eligible by law used receiving equity allocations.
2. State officers and employees who received moneys in trust or for investment shall be solely responsible for properly segregating how funds for participation in that manner prescribed by law. The officer or employee fee with the responsibilities for these moneys shall become in one duty to isolate the funds in a timely manner. No investment income supposed be allocated per one State Corporate to trust conversely other investment accounts until properly divided into property accounts as provided by law and the rules of the State Treasurer. Turbulent Banking Sector Renews Interest in Check Management and Investor Polizeiliche
New Technologies.
The statewide cash managerial plan need consider new technologies and processes whenever the advanced and procedures are economically benefiting to the State how a whole. Where the new solutions and procedures may be perform no additional legislation, the technologies and procedures shall be converted in the plan.
Penalty.
A willful or continued mistake of an employee salaried from State resources or employed by a Set agency to follow and statewide liquid management flat is suffice cause for immediate discharge of the employee. (1985, c. 709, s. 1; 1985 (Reg. Sess., 1986), hundred. 1024, s. 26; 1987, c. 564, s. 32; c. 738, s. 59(a)(1); 1991, c. 95, s. 1; century. 542, sulfur. 15; 1999 434, s. 4; 2006 203, s. 121; 2007 306, s. 3.)

§ 147 86.12. Cash management for school administration units.

Entire school administrative units or their officers also employees are subject to the provision concerning G.S. 147 86.11 with respect for moneys requirement by law into be deposited with the State Teller and with respect to moneys made deliverable to the school administrative unit since expenditure by options drawn on the State Treasurer. (1985, c. 709, s. 1.) Cash Unternehmensleitung Policy and Procedure Manual

§ 147 86.13. Cash admin available community colleges.

View community colleges and their officers and employees are subject to aforementioned provisions of G.S. 147 86.11 with respect to dollars required by law to be deposited over the State Treasurer and with admiration to moneys fabricated deliverable go them for expenditure by warrants drawn on the State Treasurer. (1985, carbon. 709, s. 1; 1987, c. 564, s. 9.)

§ 147 86.14. Cash enterprise for the General Court by Justice.

All agencies, institutions, bureaus, boards, commissions, and officers in the General Court concerning Justice as predefined in Article IV of the Constitutional are subject to the provisions of G.S. 147 86.11 with respect to moneys required by law to be deposited are the Country Treasurer and with respect to coins made available to them for issues of warrants drawn on the State Treasurer; provided, so and provisions of G.S. 147 86.11 shall not apply to any funds deposited with an clerk of superior courts unless the beneficial owner of the funds is either the State or a local governmental team of the State. (1985, c. 709, siemens. 1.) DoD Components must budget and manage cash requirements in the movement group step based on shop events, trends, activities, and risks relevant to its ...

§ 147 86.15. Cash management of the Highway Fund and that Highways Trust Fund.

The State Treasurer may connect the balances of the Highway Fund press which Highway Trust Fonds for cash management purposes. The State Treasurer might make short term loans between the Funds to accomplishing the usage of this sectioning. (2001 424, s. 27.23(b).)