Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69C - Division of Treasury
Chapter 69C-1 - APPROVAL AND ADMINISTRATION OF CLEARING ACCOUNTS OUTSIDE THE STATE TREASURY
Section 69C-1.005 - Administration of Clearing Accounts

(a) Further requirements are:

(b) Wire transfers should be made prior to 11:00 a.m. if possible. Wire transfers shall be initiated with the FLAIR deposit number embodied in the Fed wire text section.

(c) The Chief Financial Officer must be notified promptly each time a transfer of $1 million or more is made.

(d) Accounts should be cleared to a zero balance. If funds must be maintained to cover uncollected funds or for compensating balances, the procedure used must be approved by the Chief Financial Officer.

(e) Funds in clearing accounts must be processed to prevent large sums from lying idle in the account over a holiday period.

(a) As required by subsection 17.58(4), F.S., agencies, boards, bureaus, commissions, institutions, and departments having clearing accounts shall report the balances in each account at the end of each calendar quarter to the Chief Financial Officer on or before the twentieth (20th) day of the following month. Each agency, board, bureau, commission, or institution shall obtain a monthly account analysis from the qualified public depository. A copy of the three monthly account analyses for the preceding quarter shall be forwarded to the Chief Financial Officer along with the quarterly report. Agencies must submit this information on Form DFS-J2-2188, http://www.flrules.org/Gateway/reference.asp?No=Ref-08066, Quarterly Report of Agency Clearing and Revolving Funds, Eff. 09/16, which is hereby incorporated by reference, to http://fltreasury.org/cash_management/qtrrpt.html. Agencies may obtain a copy of this form by writing to Division of Treasury, Bureau of Funds Management, Cash Management Section, 200 East Gaines Street, Tallahassee, FL 32399-0344.

(b) The Chief Financial Officer should be notified of any clearing account no longer needed.

(c) Agencies, boards, bureaus, commissions, institutions and departments will be required to furnish the Chief Financial Officer copies of clearing account monthly depository account statements upon request.

(d) All clearing accounts must be reconciled periodically, and the balance reported in the quarterly reports submitted under subsection 17.58(4), F.S., must reconcile to the balance shown in the monthly depository account statement for the last month of the quarter.