North Carolina Administrative Code
Title 20 - STATE TREASURER
Chapter 03 - LOCAL GOVERNMENT COMMISSION
Section .0400 - ACCOUNTING AND INTERNAL CONTROLS
Section 03 .0410 - EXEMPTION FROM DISBURSEMENT CERTIFICATE REQUIREMENT FOR ELECTRONIC PAYMENTS
Universal Citation: 20 NC Admin Code 03 .0410
Current through Register Vol. 39, No. 6, September 16, 2024
(a) To qualify for an exemption from the disbursement certificate requirement in G.S. 159-28(d1) and G.S. 115C-441(d1) for electronic payments, a local government, public authority, or local school administrative unit, herein referred to as "the unit," shall do the following:
(1) The unit's governing board shall adopt a
resolution authorizing the unit to engage in electronic payments as defined by
G.S.
159-28 or
G.S.
115C-441; and
(2) The unit's governing board, or finance
officer if authorized by the governing board, shall adopt a written policy
outlining procedures for disbursing public funds by electronic transaction. The
written policy and the procedures shall provide internal controls that shall
ensure the following:
(A) that the amount
claimed is payable;
(B) that there
is a budget, project, or grant ordinance appropriation authorizing the
expenditure;
(C) that monies remain
within the appropriation to cover the amount that is due during the current
fiscal year if accounted for in the budget ordinance, or to cover the entire
amount if accounted for in a project or grant ordinance; and
(D) that the unit has sufficient cash to
cover the payment.
(b) Units that comply with Subparagraphs (a)(1) and (2) of this Rule shall not be required to affix the disbursement certificate required in G.S. 159-28(d1) or G.S. 115C-441(d1) to any electronic payments.
Authority
G.S.
159-28(f)(3);
115C-441(f)(3);
Eff. November 1, 2017.
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