The Treasury receives deposits on a daily basis. All deposits are verified and documented upon receipt. Each day, the receiving department balances its books and submits a deposit summary to the cash management desk.
There are three ways money is received by the Treasury:Deliveries
State agency personnel deliver deposits to the Treasury. State agencies collect money for fees, taxes, etc. which is deposited to the Treasury and allocated to a respective fund.Federal Reserve Wires
Agencies request funding from the Federal Reserve Department. Once funding is approved, the agencies setup an account at the Treasury. The Federal Reserve wires money to the Treasury where agency personnel can access the federal funds.DFA Revenue
The Department of Finance and Administration sends a daily deposit with the “Revenue Receipts Deposit” form to the Treasury. The process for verifying the deposit is the same as documented above for deliveries made to the Treasury.
The Collateralization Policy was adopted to insure that the State Treasury Funds deposited with a financial institution must be secured at all times by conveyance of a perfected security interest in eligible securities as prescribed in Arkansas Code Annotated (Statute Symbol) 9-8-209 and (Statute Symbol) 23-32-1003 and evidenced by a security agreement.Duties Include:
Audit banks collateral to be sure adequate securities have been pledged and have a market value equal to at least 105% of the amount of Treasury deposits and / or investments (including accrued interest), and that those securities be held by a third-party Financial Institution Custodian.
A warrant is a check issued by Arkansas State Agencies for payments of services rendered. Warrants can be issued as a paper warrant or an electronic payment. The Warrant Division redeems these warrants once a payee cashes the warrant or the electronic payment is received at the payee’s bank.
Telephone:+1 501 682 5888
If you need help from any of the staff of the Office of Treasurer of State, please call this number or use the