1. N. C. OFFICE OF THE STATE CONTROLLER (OSC) CASH MANAGEMENT PLAN REQUIREMENTS

2. INTRODUCTION w Melody Tart NC Office of the State Controller w Phone:919-981-5486 w Fax:919-875-3845 w E-mail:mtart@mail.osc.state.nc.us

3. STATUTORY REQUIREMENT w G.S. 147-86.10, G.S. 147-86.11 All agencies, institutions, departments, bureaus, boards, commissions and officers of the State... shall devise techniques and procedures for the receipt, deposit and disbursement of moneys coming into their control.

4. STATUTORY REQUIREMENT w G.S. 147-86.12 All school administrative units and their officers and employees are subject to the provisions of G.S. 147-86.11 with respect to moneys required by law to be deposited with the State Treasurer... and warrants drawn on the State Treasurer.

5. POLICIES and PROCEDURES w Each plan must follow the uniform statewide cash management plan format. (handout #2) w Web address for statewide plan: www.osc.state.nc.us/sigdocs/sig_docs/cash_ mgmt/SCMPLAN.html

6. POLICIES and PROCEDURES w Draft plans are due by September 30, 2001. w Submission cover letter should be included with your final plan. (handout #3) w The State Controller will acknowledge the approval of each plan in writing.

7. POLICIES and PROCEDURES w Submission letter and final version of plan should be mailed to : NC Office of the State Controller Attention: Melody Tart 1410 Mail Service Center Raleigh, NC 27699-1410

8. POLICIES and PROCEDURES w Any subsequent changes to your approved plan must have prior approval by OSC. w A copy of your approved cash management plan, any revisions and approval letter should be available for auditor review.

9. CASH MANAGEMENT OVER RECEIPTS w Include a description of daily deposit cutoff times and schedule. For example: All monies received by 2:00 p.m. are taken to the bank for deposit. Funds received after 2:00 p.m. are safeguarded over night and included in the next day’s deposit

10. CASH MANAGEMENT OVER RECEIPTS w Any approved, by the Department of the State Treasurer, exception to the daily deposit requirement must be explained in your plan. w A copy of the State Treasurer’s approval letter should be included with your plan.

11. CASH MANAGEMENT OVER RECEIPTS w Accounts Receivable (A/R) policies and procedures must be included. w Web address for statewide A/R procedures: www.osc.state.nc.us/sigdocs/sig_docs/ sigAccounts_Receivable00001212.html

12. CASH MANAGEMENT OVER RECEIPTS w Acceptance of electronic payment (credit card, debit card and electronic funds transfer) policies and procedures must be included. w If you do not accept electronic payments, include a statement saying this. Do not just delete.

13. CASH MANAGEMENT OVER DISBURSEMENTS w Delegation of Disbursing Authorities must be kept current and must be approved by the State Controller. w Disbursing Authority Form web address: www.osc.state.nc.us/sigdocs/sig_docs/cash_ mgmt/disbursing.html