SURPLUS MONEY INVESTMENT FUND - 8284.1-APR-2016
(Deleted 10/2020 and content added to 8284)
Interest on investments of the Surplus Money Investment Fund is apportioned to other funds quarterly by the SCO pursuant to GC section 16475. The administering department for the funds receiving interest will receive the SCO Notice of Transfer in the month following the end of the quarter. Departments will account for the interest as revenue or operating revenue in the applicable funds, see SAM section 10532, Entry 32—[Interest Earnings On Investments Of The Surplus Money Investment Fund And Condemnation Deposits Fund]. Departments will accrue the June 30 interest as described in SAM section 10605, Entry A-6, Receivables Due From Surplus Money Investment Fund and Condemnation Deposits Fund Are Accrued for Interest Earnings.