Iowa Admin. Code r. 781-11.3

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 781-11.3 - Treasurer's procedures for administering the depository process

(1) The treasurer shall enter into an agreement with one or more financial institutions located in the state to serve as a depository.

(2) The treasurer shall specify which depositories may be used by state agencies and any third party hired by an agency to collect receipts and make deposits of public funds on the agency's behalf.

(3) The treasurer shall provide state agencies with the proper instructions for receiving electronic financial transactions at a depository.

(4) The treasurer shall provide state agencies with instructions on creating cash receipt accounting documents reflecting the deposit of public funds into a depository.

(5) Before an agency hires a third party to collect receipts and make deposits of public funds on the agency's behalf, the treasurer shall review the collection process being considered by the agency and third party to ensure that public funds are being deposited directly into a depository.

Iowa Admin. Code r. 781-11.3

ARC 1217C, IAB 12/11/2013, effective 1/15/2014