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14-59-105. Prenumbered checks — Electronic funds transfers.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-59-105. Prenumbered checks — Electronic funds transfers.
(a) All disbursements of municipal funds, except those described in this section and as noted in § 14-59-106, petty cash funds, are to be made by prenumbered checks drawn upon the bank account of that municipality.
(b) 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 city.
(c) Disbursements of municipal funds used for payment of salaries and wages of municipal officials and employees may be made by electronic funds transfer provided that the municipal 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 from the bank in which the funds are held;
(3) Account number;
(4) Accounts clearing house trace number pertaining to the transfer;
(5) Date and amount transferred; and
(6) Proof that the employee has been notified of direct deposit of his or her salary or wages by electronic funds transfer.
(d) Disbursements of municipal funds used for payments to federal or state governmental entities may be made by electronic funds transfer.
(e)(1) Disbursements of municipal funds, other than for payments under subsections (c) and (d) of this section, may be made by electronic funds transfer provided that:
(A) The governing body of the municipality shall establish by ordinance an electronic funds payment system directly into payees' accounts in financial institutions in payment of any account allowed against the munic
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-59-105
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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Stable record: arkansas_code:legal_authorities:14-59-105
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 576d95cedbb57d9c8697118fc683e375507eb1b9034fcf8b56f3f46405fad948
Source location: content.xml paragraph 18883
Stored source content
14-59-105. Prenumbered checks — Electronic funds transfers.
(a) All disbursements of municipal funds, except those described in this section and as noted in § 14-59-106, petty cash funds, are to be made by prenumbered checks drawn upon the bank account of that municipality.
(b) 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 city.
(c) Disbursements of municipal funds used for payment of salaries and wages of municipal officials and employees may be made by electronic funds transfer provided that the municipal 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 from the bank in which the funds are held;
(3) Account number;
(4) Accounts clearing house trace number pertaining to the transfer;
(5) Date and amount transferred; and
(6) Proof that the employee has been notified of direct deposit of his or her salary or wages by electronic funds transfer.
(d) Disbursements of municipal funds used for payments to federal or state governmental entities may be made by electronic funds transfer.
(e)(1) Disbursements of municipal funds, other than for payments under subsections (c) and (d) of this section, may be made by electronic funds transfer provided that:
(A) The governing body of the municipality shall establish by ordinance an electronic funds payment system directly into payees' accounts in financial institutions in payment of any account allowed against the municipality;
(B) For purposes of this subsection, municipalities 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; and
(C) 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 municipality.
(2) A single electronic funds payment may contain payments to multiple payees, appropriations, characters, or funds.
(f) A disbursement of municipal funds shall have adequate supporting documentation for the disbursement.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-59-106. Petty cash funds.
(a) Municipalities are permitted to establish petty cash funds, so long as the funds are maintained as set forth in this section.
(b)(1) The establishment of such a fund must be approved by the city council.
(2)(A) In establishing such a fund, a check is to be drawn upon the general fund of the municipality payable to “petty cash.”
(B) That amount may be maintained in the municipal offices for the handling of small expenditures for items such as postage, light bulbs, delivery fees, etc.
(c)(1) A paid-out slip is to be prepared for each item of expenditure from the fund and signed by the person receiving the moneys.
(2) These paid-out slips shall be maintained with the petty cash. When the fund becomes depleted, the municipality may then draw another check payable to “petty cash” in an amount which equals the total paid-out slips issued. 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) · 14-59-106
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. The source passage cites 14-59-106. This identifies an authority to review, not proof of applicability.