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TREASURER’S DEPOSITS PowerPoint Presentation
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TREASURER’S DEPOSITS

TREASURER’S DEPOSITS

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TREASURER’S DEPOSITS

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  1. TREASURER’S DEPOSITS Procedures for handling checks and ‘bad’ checks. EFFECTIVE 7/1/07

  2. What’s up? • Bad checks have become a problem for Mohave County. • The county is losing revenue and it is taking huge amounts of time to process and follow up on ‘bad’ checks. • Some departments are not taking it as a serious problem and they are not making it a priority to try to reduce the problem.

  3. Would you take this check?

  4. Checks in the mail…….. Sample: Dog License /Dept Acct # JBarker /Mail Treasurer’s Fund #

  5. Park Departments: Ford T-Bird /DL#12364 KS KS SG BMX-123/DOB 6/22/57 /316.641.6022M JBarker /316.218.0390H Fund#9999999

  6. Checks at the counter: Fund#9999999 /DL#123456 AZ Walmart /DOB 6/22/57 /928.641.6022W JBarker /928.218.0390H

  7. Departmental Procedures • Departments should deposit all cash and checks to the Treasurer within two business days of receipt. -- This practice will reduce the likelihood of returned checks due to closed accounts. -- This also lessens the chance that the checks or cash will be misplaced or stolen.

  8. Departmental Procedures • Satellite offices should not keep deposits in the office more than two days. -- New procedures may be needed. • If the original check was returned to the issuer for other reasons, and it is returned to the department again, it must be within 30 days. If not, they need a new check.

  9. Arizona Statutes • 35-146. Deposit of receipts by budget units • A. All monies received by any officer or employee of any budget unit shall be promptly remitted to the state treasurer and no monies shall be held, used or deposited in any personal or special bank account temporarily or otherwise by any agent or employee except as expressly provided by this chapter.

  10. Arizona Statutes • 35-147. Treasurer's deposits; preparation and disposition • B. The treasurer's deposit shall be prepared in duplicate, or more copies if necessary, and all copies shall be delivered to the state treasurer together with the remittance or proof of prior deposit with the state servicing bank. A validated copy will be returned by the state treasurer to be retained by the issuing budget unit. The treasurer's receipt shall show the amount, the date deposited and a unique validation number that will link the deposit to accounting documents and fund details maintained in the statewide accounting system. The treasurer's deposit forms shall be issued to the budget units by the department of administration. The administrative headof each budget unit shall be held accountable for each deposit.

  11. Accepting Checks • Verify that the check is signed and the signature matches the name on the check. -- Unsigned checks should be returned to the department. • Verify that the date on the check is a current date. -- DO NOT accept post dated checks. • Do not accept credit card checks. • Verify that the numeric amount and written amount are the same. -- If they are different, have them write another check. If received in the mail, in red ink write in the correct amount for this check.

  12. Accepting Checks • Ask for identification with a picture. A driver’s license is best. • Compare the picture to the person writing the check. • Is there a phone number on the check? If not, write it on the check. • Do not accept out of state checks. -- Try to get a credit or debit card instead.

  13. Accepting Checks • Immediately endorse the back of the checks with the department “For Deposit Only” stamp. • Write on the face of each check the account number/fund number to be charged back. -- Checks without this will be returned to the department.

  14. ‘Bad’ Checks • Issuing a Bad check is a Class 1 misdemeanor • Punishable by six months in jail and $2,500 fine. • Repeated violations and high dollar amounts can result in felony prosecution. • For each check that is return to the Treasurer’s Department from the bank your Department will be charged $5.00.

  15. Remember………… Once a check has been sent to the Bad Check Program you cannot accept payment on the bad check, payment MUST go through the BCP.

  16. Help!!! Any questions or comments?