Current through Register Vol. 35, No. 18, September 24, 2024
A. Daily
Reconcilement and Reporting Requirements:
(1)
All investing agencies shall reconcile their respective investment transactions
and investment, account cash balances daily to the records of the fiscal agent
bank and correspondent bank for the prior business day.
(2) All investing agencies shall report the
following day by submitting an investment exception/resolution report to the
cash manager:
(a) any bank-caused
exceptions;
(b) any exceptions that
have not been reconciled within fourteen (14) days; and
(c) any resolution of an exception reported
in Paragraph A, Section 2.b, [now Subparagraph (b) of Paragraph (2) of
Subsection A of 2.60.9.8 NMAC] above.
B. Monthly:
(1) By the tenth
(10th) day of the month all investing agencies shall
submit to the cash manager division of the STO a signed certification
indicating all custodial accounts and all investment cash accounts for the
previous month were reconciled and the status of pending adjustments and
corrections of any unreconciled exceptions.
(2) By the tenth
(10th) day of the month, the cash manager division
shall notify SBF of any exceptions or errors caused by the fiscal agent bank or
the correspondent bank during the previous month. The SBF shall ensure
bank-caused errors do not result in increases to the compensating balances
required or erroneous bank charges.
(3) Monthly the state treasurer's office may
report to the board any reconcilement exceptions of investing agencies.
Included in this report may be any exception not corrected by the investing
agencies within thirty (30) days from the date the exception occurred or any
exceptions deemed material or substantive at the discretion of the state
treasurer.
C. Quarterly:
Within sixty (60) days after the end of each calendar quarter, the state
treasurer's office shall report to the board a summary of all exceptions not
reconciled, including aggregate exceptions for a single investing agency, in
the amount of $10,000 or more, which have remained unreconciled for a period of
at least thirty (30) days. This report shall be as of the end of the last
business day of the last month of the previous calendar quarter. At the
discretion of the state treasurer's office, the report may also include any and
all exceptions deemed material or substantive, which exceptions may be for
single or aggregate amounts less than $10,000 and unreconciled for a period of
less than 30 days.
