Iowa Admin. Code r. 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 .
Notes
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