Treasury’s Remote Check Deposit Program Marks 1,000th Check
State agencies using scanners to make deposits remotely
Little Rock, Ark. (June 16, 2021) – Treasurer of State Dennis Milligan announced today that his office has reached the 1,000th check deposited by state agencies through its new efficiency platform TRIP, which stands for Treasury Receiving Interactive Program. This program is part of Milligan’s efficiency plan for the Treasury, which has included streamlining software systems and providing real-time updates to the agencies via electronic methods rather than the previous way of paper mail and postage.
“Our efficiency efforts have allowed the State Treasury to receive and obtain receipts electronically, which is a huge saver of time for both us and the agencies we serve,” Milligan said.
The Treasury accepts more than $70 million each day in deposits from various local, state and federal sources and credits them to the proper accounts. It processes between 2,000 and 3,000 checks each day, and distributes roughly $2.3 billion annually in combined Sales and Use tax distributions and County and Municipal Aid funds each year.
“When I took office in 2015, I made a pledge to increase efficiency and transparency in the office of Treasurer of State,” Milligan said. “This is just one of the many ways we’ve been able to update the State Treasury to the 21st century.
The TRIP portal utilizes the same system banking institutions use, allowing state agencies to place scanners at their respective offices. They are then able to scan in checks and directly deposit the money into the State Treasury. Previously, representatives from roughly 200 state agencies, boards and commissions would have to physically drop off these checks to the Treasury.
“This new program has made my job so much less complicated,” said Lorna Deville, who works in the business office at the Department of Transformation & Shared Services. “Before the scanner I had to walk to the Treasury, losing valuable time each day. It also makes me more aware of every penny we deposit and I am able to keep up better with our records using the online system.”
About one-third of the agencies the Treasury works with have implemented the new check scanners and are using the more efficient platform. Milligan hopes to be able to move the remainder of the agencies to the new platform by year end.
Agency representatives interested in having a scanner installed in their office should call the Treasury at 501-682-5888.
Dennis Milligan was elected Treasurer of State in 2014 and re-elected in 2018. The State Treasury is responsible for overseeing the state’s $4.5 billion portfolio. Since taking office in 2015, Milligan has receipted the state more than $400 million in investment returns and has grown the investment portfolio’s receipts to record highs. www.artreasury.gov.