REPORTING OF LARGE DEPOSITS - 8032.5-JAN-2017
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 the Centralized State Treasury System (CTS).
Departments must report deposit information as specified in the table below to the State Treasurer’s Office (STO), Centralized Treasury and Securities Management Division, Financial Services Section. This will allow the STO to effectively manage compensating bank balances, maximize return on investments, and comply with collateral requirements as described in SAM section 8002.
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IF TOTAL DEPOSIT IS: |
NOTIFY STATE TREASURER'S OFFICE (STO) BY 1:30 P.M. ABOUT: |
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$100,000 or greater |
Total deposit amount. |
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EXPECTED to be $5 Million or greater |
Expected amount and date of deposit as soon as possible or one day in advance. |
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Unknown |
Notify STO of reasonable estimated amount. |
Use the following information on who or where to notify: finserv@treasurer.ca.gov OR call (916) 653-2917 OR CALNET (916) 453-2917