SHORTAGES, REPLENISHMENT, AND REPORTING REQUIREMENTS - 8150.2
An agency/department’s revolving fund may consist of change funds, cash purchase funds, or cash payment funds. For a description of the cash overages, see SAM Section 8070.
Shortages
A cash shortage represents any moneys due to the state. Agencies/Departments shall follow the collection procedures outlined in SAM Section 8293. Agencies/Departments shall establish an account receivable due from the custodian when identifying any cash shortages. Agencies/Departments shall prepare a Revolving Fund Disbursement Voucher form, STD 438, for the shortage, and issue a revolving fund check to reimburse the cash fund for the shortage. For the entry to record cash shortages, see SAM Section 10507.
Replenishment
Agencies/Departments must submit any revolving fund deficiencies to the Department of Finance, Office of State Audits and Evaluations (OSAE). The Director of Finance may approve replenishment from an existing appropriation that an agency/department designates for a deficiency or shortage in the revolving fund.
The revolving fund shall be made whole upon the receipt of moneys to replenish the cash shortage. To request replenishment, agencies/departments must complete a Claim for Reimbursement form, STD 27A. If an internal audit unit exists within the agency/department, the head of the audit unit must review and sign the claim. Agencies/Departments shall perform the following to submit a revolving fund deficiency claim for reimbursement for cash shortages:
- For an individual deficiency (shortage) of $1,000 or more, or multiple deficiencies claim which totals $2,500 or more, agencies/departments must submit an original and one copy of the STD 27A to OSAE. If approved, OSAE will return the STD 27A to the agency/department for submission to the State Controller’s Office (SCO) through the manual claim process. The claim shall only include the deficiency claims. The SCO may pay the claim from an existing appropriation that the agency/department designates on the claim face sheet.
- For an individual deficiency of less than $1,000 or multiple deficiencies claim which totals $2,499.99 or less, agencies/departments are delegated the authority to submit the STD 27A directly to the SCO. Agencies/Departments shall present the STD 27A through the manual claim process. The claim shall only include deficiency claims. The SCO may pay the claim from an existing appropriation that the agency/department designates on the claim face sheet.
- For a deficiency in any amount for which the canceled check is not available or for a deficiency resulting from an unresolved SCO claim correction, agencies/departments must submit the STD 27A to OSAE. The processing of these types of claims is the same as that for an individual deficiency of $1,000 or more.
Reporting Requirements
Agencies/Departments shall prepare and submit a report of revolving fund deficiency claims for reimbursements each fiscal year. If no claims were filed during the fiscal year, the report shall contain the statement:
"No claims for reimbursement were filed during the fiscal year."
If claims were filed, the report shall detail the disposition of all claims for reimbursement. Agencies/Departments shall submit the report to OSAE, by September 30 and must include the following information:
- Agency/Department Name
- Report Title
- As of June 30, XXXX
- Claim number, date filed, claim amount, and date paid
- The amount of each Claim for Reimbursement
- The reason for each deficiency
An employee at the level of, or above, the accounting office manager must sign the report, and the report must contain the following certification:
I certify under penalty of perjury that the foregoing is true, correct, and complete. Subscribed and executed this day of , XXXX.
OSAE will return any disallowed claims for reimbursement to the agency/department. Agencies/Departments should submit disallowed claims to the Department of General Services, Office of Risk and Insurance Management in accordance with the legislative claim process. For a description of the legislative claim process, see SAM Section 8493.