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14-237-106. Prenumbered checks — Electronic funds transfers.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-237-106. Prenumbered checks — Electronic funds transfers.
(a) All disbursements of water and sewer department funds, except those described in this section and as noted in § 14-237-107, are to be made by prenumbered checks drawn upon the bank account of that department.
(b) An electronic funds transfer may be used for payment of debts provided that:
(1) The person responsible for the disbursement maintains a ledger including without limitation the following information:
(A) The name and address of the entity receiving payment;
(B) The routing number of the bank in which the funds are held;
(C) The account number and the accounts clearinghouse trace number pertaining to the transfer; and
(D) The date and amount transferred; and
(2) Written consent for payment by electronic funds transfer is given by the entity to whom the transfer is made.
(c) The checks shall be of the form normally provided by commercial banking institutions and shall contain, as a minimum, the following information:
(1) Date of issue;
(2) Check number;
(3) Payee;
(4) Amount; and
(5) Signature of two (2) authorized disbursing officers of the department.
(d) Disbursements of department funds used for payment of salaries and wages of department officials and employees may be made by electronic funds transfer provided that the department employee or official responsible for disbursements maintains a ledger containing at least the:
(1) Name, address, and Social Security number of the employee receiving payment of salary or wages;
(2) Routing number of the bank in which the funds are held;
(3) Account number and the accounts clearinghouse trace number pertaining to the transfer; and
(4) Date and amount transferred and proof that the employee has been notified of dire
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-237-106
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-237-106
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4f390f348c65da4d152c6d5b0d1fb8868a4088f6b62c43278d1cf38f2c175046
Source location: content.xml paragraph 50036
Stored source content
14-237-106. Prenumbered checks — Electronic funds transfers.
(a) All disbursements of water and sewer department funds, except those described in this section and as noted in § 14-237-107, are to be made by prenumbered checks drawn upon the bank account of that department.
(b) An electronic funds transfer may be used for payment of debts provided that:
(1) The person responsible for the disbursement maintains a ledger including without limitation the following information:
(A) The name and address of the entity receiving payment;
(B) The routing number of the bank in which the funds are held;
(C) The account number and the accounts clearinghouse trace number pertaining to the transfer; and
(D) The date and amount transferred; and
(2) Written consent for payment by electronic funds transfer is given by the entity to whom the transfer is made.
(c) The checks shall be of the form normally provided by commercial banking institutions and shall contain, as a minimum, the following information:
(1) Date of issue;
(2) Check number;
(3) Payee;
(4) Amount; and
(5) Signature of two (2) authorized disbursing officers of the department.
(d) Disbursements of department funds used for payment of salaries and wages of department officials and employees may be made by electronic funds transfer provided that the department employee or official responsible for disbursements maintains a ledger containing at least the:
(1) Name, address, and Social Security number of the employee receiving payment of salary or wages;
(2) Routing number of the bank in which the funds are held;
(3) Account number and the accounts clearinghouse trace number pertaining to the transfer; and
(4) Date and amount transferred and proof that the employee has been notified of direct deposit of his or her salary or wages by electronic funds transfer.
(e) Disbursements of department funds, other than for payments under subsections (b) and (d) of this section, may be made by electronic funds transfer provided that:
(1) The department's governing body may establish an electronic funds payment system directly into payees' accounts in financial institutions in payment of any account allowed against the department;
(2) For the purposes of this subsection, departments opting for an electronic funds payment system shall establish written policies and procedures to ensure that the electronic funds payment system provides for internal accounting controls and documentation for audit and accounting purposes;
(3) Each electronic funds payment system established under this subsection shall comply with the information systems best practices approved by the Legislative Joint Auditing Committee before implementation by the department; and
(4) A single electronic funds payment may contain payments to multiple payees, appropriations, characters, or funds.
(f) A disbursement of department funds shall have adequate supporting documentation for the disbursement.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-237-107. Petty cash funds.
(a) Municipal water and sewer departments are permitted to establish petty cash funds, so long as the funds are maintained as set forth in this section. The establishment of a petty cash fund must be approved by the department's governing body.
(b)(1) In establishing a petty cash fund, a check is to be drawn upon the bank account of the water and sewer department payable to “Petty Cash.” That amount may be maintained in the water and sewer department offices for the handling of small expenditures for items such as postage, light bulbs, delivery fees, etc.
(2) A paid-out slip is to be prepared for each item of expenditure from that fund and signed by the person receiving the moneys. These paid-out slips shall be maintained with the petty cash.
(3) When the fund becomes depleted, the department may then draw another check payable to “Petty Cash” in an amount which equals the total paid-out slips issued, and at that time the paid-out slips shall be removed from the petty cash fund and utilized as invoice support for the check replenishing petty cash.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-237-107
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 14-237-107. This identifies an authority to review, not proof of applicability.