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19-3-510. Types of accounts for deposits.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-3-510. Types of accounts for deposits.
(a)(1) Funds from the State Treasury deposited into a bank depository or an investment depository shall be credited to accounts in the name of the Treasurer of State.
(2) Except as provided in § 19-3-512, the Treasurer of State may establish accounts as demand deposit accounts, certificates of deposit, or other accounts.
(b) The certificate of deposit account in a bank depository or an investment depository shall consist of funds from the State Treasury deposited under the State Treasury Certificate of Deposit Investment Program and trust funds deposited for various trust funds.
(c) The demand deposit account in a bank depository or an investment depository shall consist of:
(1) All federal funds, as described in § 19-7-101 et seq.;
(2) Trust funds to the extent that the trust funds are not invested in securities and certificates of deposit; and
(3) State funds to the extent that the state funds are not invested in securities.
(d) Funds from the State Treasury shall not be deposited into a bank depository or an investment depository except under the terms of a written agreement entered into between the Treasurer of State and the bank depository or investment depository that complies with applicable state law and rules and federal law, rules, and regulations.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-3-510
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:19-3-510
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 33ceac9937ccfbfe4b722011c034c254de14481c5cceb90269501a65ea1a72dc
Source location: content.xml paragraph 1204
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19-3-510. Types of accounts for deposits.
(a)(1) Funds from the State Treasury deposited into a bank depository or an investment depository shall be credited to accounts in the name of the Treasurer of State.
(2) Except as provided in § 19-3-512, the Treasurer of State may establish accounts as demand deposit accounts, certificates of deposit, or other accounts.
(b) The certificate of deposit account in a bank depository or an investment depository shall consist of funds from the State Treasury deposited under the State Treasury Certificate of Deposit Investment Program and trust funds deposited for various trust funds.
(c) The demand deposit account in a bank depository or an investment depository shall consist of:
(1) All federal funds, as described in § 19-7-101 et seq.;
(2) Trust funds to the extent that the trust funds are not invested in securities and certificates of deposit; and
(3) State funds to the extent that the state funds are not invested in securities.
(d) Funds from the State Treasury shall not be deposited into a bank depository or an investment depository except under the terms of a written agreement entered into between the Treasurer of State and the bank depository or investment depository that complies with applicable state law and rules and federal law, rules, and regulations.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-3-512. Estimate and investment of funds not needed for immediate cash requirements.
(a)(1) No less than quarterly, the State Board of Finance in conjunction with the Chief Fiscal Officer of the State shall determine the amount of funds from the State Treasury available for deposit by the Treasurer of State into the State Treasury Certificate of Deposit Investment Program.
(2) The board shall direct the investment of all moneys that exceed the cash requirements needed to satisfy outstanding warrants and other liquid obligations for the succeeding quarter.
(b)(1) At least ten (10) days before making the determination required by subsection (a) of this section and after reviewing current holdings in the State Treasury and all available revenue forecasts, appropriations, expenditure budgets, year-to-date expenditure reports, prior year expenditure trends, and any other pertinent information, the Chief Fiscal Officer of the State shall advise the board of the estimated amount of cash reserves expected to be needed by the Treasurer of State to purchase warrants in the next fiscal quarter.
(2) The board shall direct the Treasurer of State:
(A) To purchase warrants in the next fiscal quarter; and
(B) In the type and amount for deposit and investment of all holdings exceeding cash reserves for warrant purposes.
(c) The Treasurer of State, acting ministerially, may do all things necessary to accomplish the purposes and intent of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-3-512
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 19-3-512. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-7-101. Reports to Legislative Council.
(a) The Secretary of the Department of Finance and Administration shall file quarterly reports with the Legislative Council itemizing and summarizing all contracts or agreements entered into by the Governor with the United States Government, or any agencies or instrumentalities thereof, whereby the State of Arkansas is to participate in any program involving the expenditure of federal funds, whether or not state funds are obligated in connection therewith, with respect to new federal programs, or expansion of existing federal programs which were not in existence or which were not implemented by state participation, at the time of the adjournment of the regular session of the General Assembly and entered into prior to the convening of the next regular session of the General Assembly.
(b) The report shall list, with respect to each such contract or agreement:
(1) A brief statement of the purposes of the agreement;
(2) The amount of federal funds to be expended thereunder;
(3) The amount of any state matching funds required in connection with the program, if any;
(4) The name of the agency or department that will administer the program; and
(5) Such additional information as will enable the members of the Legislative Council to determine the nature and purposes of the agreement.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-7-101
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 19-7-101. This identifies an authority to review, not proof of applicability.