ARSD Article 06:03 — ACCOUNTABILITY FOR STATE FUNDS

STATE TREASURER STATE TREASURER

Chapter 06:03:01 Cash receipts transmittals

ARSD 06:03:01:01 Remittance deadlines

Funds destined for the state treasurer's office may be held for more than one working day if the amount to be remitted is under $500. However, all funds held by an agency shall be remitted every Thursday.

History

Source: 12 SDR 153, effective March 27, 1986.
General Authority: SDCL 4-3-4.2.
Law Implemented: SDCL 4-3-4.2.

ARSD 06:03:01:02 Local accounts

State agencies which have local accounts are exempt from § 6:03:01:01 under the following circumstances:

(1) If an agency makes refunds from a local account, the agency may retain in the account the funds necessary for that purpose; and

(2) If an agency uses a local account only for remitting funds to the state treasurer, the agency may retain the funds until the balance reaches $500. Once that sum is reached, all funds must be remitted except those necessary for account maintenance or those funds authorized by the state auditor and treasurer under SDCL 4-4-3.

Cross-Reference: Funds maintained in treasury -- Local bank accounts, SDCL 4-4-3.