69C-1.005. Administration of Clearing Accounts

(1) Forwarding Moneys to the State Treasury. Moneys in clearing accounts which are to be forwarded to the State Treasury must be forwarded using the following general schedule unless another schedule is initiated or approved by the Chief Financial Officer:

Annual Deposits	Forwarding Frequency	Forwarding Method
(A) 0-61,999.99	Every Other Tuesday	By Check or ACH Transfer
(B) 62,000-247,999.99	Every Tuesday	By Check or ACH Transfer
(C) 248,000-1,459,999.99	Every Tuesday & Friday	Wire Transfer or ACH Transfer
(D) 1,460,000 and over	Daily	Wire Transfer or ACH Transfer

(a) Further requirements are:

(b) Wire transfers should be made prior to 11:00 a.m. if possible. Wire transfers shall be initiated with the FLAIR deposit number embodied in the Fed wire text section.

(c) The Chief Financial Officer must be notified promptly each time a transfer of $1 million or more is made.

(d) Accounts should be cleared to a zero balance. If funds must be maintained to cover uncollected funds or for compensating balances, the procedure used must be approved by the Chief Financial Officer.

(e) Funds in clearing accounts must be processed to prevent large sums from lying idle in the account over a holiday period.

(2) Reporting Account Balances.

(a) As required by subsection 17.58(4), F.S., agencies, boards, bureaus, commissions, institutions, and departments having clearing accounts shall report the balances in each account at the end of each calendar quarter to the Chief Financial Officer on or before the twentieth (20th) day of the following month. Each agency, board, bureau, commission, or institution shall obtain a monthly account analysis from the qualified public depository. A copy of the three monthly account analyses for the preceding quarter shall be forwarded to the Chief Financial Officer along with the quarterly report. Agencies must submit this information on Form DFS-J2-2188, http://www.flrules.org/Gateway/reference.asp?No=Ref-08066, Quarterly Report of Agency Clearing and Revolving Funds, Eff. 09/16, which is hereby incorporated by reference, to http://fltreasury.org/cash_management/qtrrpt.html. Agencies may obtain a copy of this form by writing to Division of Treasury, Bureau of Funds Management, Cash Management Section, 200 East Gaines Street, Tallahassee, FL 32399-0344.

(b) The Chief Financial Officer should be notified of any clearing account no longer needed.

(c) Agencies, boards, bureaus, commissions, institutions and departments will be required to furnish the Chief Financial Officer copies of clearing account monthly depository account statements upon request.

(d) All clearing accounts must be reconciled periodically, and the balance reported in the quarterly reports submitted under subsection 17.58(4), F.S., must reconcile to the balance shown in the monthly depository account statement for the last month of the quarter.

(3) The Chief Financial Officer may withdraw approval for an existing clearing account if Treasury Concentration Account availability changes. The Chief Financial Officer may require that service charge quotations for approved clearing accounts be obtained from one or more alternative qualified public depository if service charges appear unreasonable or non-competitive.

Rulemaking Authority 17.29 FS. Law Implemented 17.58, 17.65 FS. History–New 3-18-80, Formerly 4C-1.05, Amended 6-19-89, Formerly 4C-1.005, Amended 4-4-17.