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Deposits Processing
Official Depository Incoming ACH Credits
The State Treasurer's Office facilitates the receipt and posting of electronic deposits to state agency accounts by receiving and processing ACH credit transactions from external sources. There are a few steps that the agency will need to initiate for this process to flow seamlessly. Each agency must:
- Complete the third-party authorization agreement, excluding the requested banking information.
- Forward the agreement to Banking Services-Operations, Attention: Wire Desk.
Banking Services-Operations will complete the agreement with the appropriate banking information, entitle the agency's account to receive ACH credit transactions, and mail the original completed authorization agreement back to the agency.
To claim incoming ACH credit transactions the agency must complete the Official Depository Form and fax it to the State Treasurer's Office 405/521-4176, Attention Wire Desk.
Interagency Transfer of Funds
Interagency transfers provide state agencies an efficient method of transferring funds between agencies. Agencies can only use Interagency Transfers to move money from their clearing account or special account to another state agency's clearing account, special account or fund account. An interagency transfer cannot be processed from an agency's fund account. In order to initiate a transfer:
Note: Cutoff time for current business day transfers is 4:00 PM CST. Transfers received after the cutoff time will be posted on the next business day.
Return Check Collection
Checks deposited with the State Treasurer's Office may be returned to the State because of insufficient funds, closed accounts or because they are otherwise deemed uncollectible. These return items are processed as follows:
- Returned checks are deposited twice before the depositing agency is charged.
- All return items are charged to the agency's clearing or special account.
- If the funds are deposited to a fund account, the funds are not reversed.
The State Treasurer's Office will provide the agency with the return item and a charge back letter from Banking Services - Operations with the charge back number, name on the check, check number, amount, and the date the charge back was processed for their reconciliation purposes. Once the agency has received this information, the agency will be responsible for collecting on the return item.
Once the agency collects on the return, the collection should be deposited back to the agency clearing or special account to offset the debit.
Agencies that deposit directly to a depository bank are required to exchange the return item with cash, a warrant or an agency voucher at the financial institution.
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