Oklahoma § 62-34.57 - Agency clearing accounts - Deposits - Transfers Exemptions

§ 62-34.57. Agency clearing accounts - Deposits - Transfers Exemptions

A. There is hereby created in the official depository in the

State Treasury an agency clearing account for each state officer,

department, board, commission, institution or agency of the state,

hereinafter referred to collectively as state agencies. An agency

special account established under Section 7.2 of this title may be

used for the purposes of an agency clearing account.

B. It shall be the duty of each state agency, officer or

employee, to deposit in the agency clearing account, or agency

special account, established under Section 7.2 of this title, all

monies of every kind, including, but not limited to:

1. Tax revenues;

2. Receipts from licenses, examinations, per diem and all other

reimbursements, fees, permits, fines, forfeitures and penalties; and

3. Income from money and property, grants and contracts,

refunds, receipts, reimbursements, judgments, sales of materials and

services of employees, and nonrevenue receipts, received by a state

agency, officer or employee by reason of the existence of and/or

operation of a state agency.

C. All such monies collected pursuant to this section shall be

deposited as follows in the agency clearing account or agency

special account established therefor:

1. Receipts of One Hundred Dollars ($100.00) or more shall be

deposited on the same banking day as received; and

2. Receipts of less than One Hundred Dollars ($100.00) may be

held until accumulated receipts equal One Hundred Dollars ($100.00)

or for five (5) business days, whichever occurs first, and shall

then be deposited no later than the next business day.

a.

Each state agency that has custody of receipts of less

than One Hundred Dollars ($100.00) shall provide

adequate safekeeping of such receipts.

b.

No disbursements shall be made from such receipts

prior to this deposit.

c.

All checks received must be restrictively endorsed

immediately upon receipt.

D. The State Treasurer is authorized to accept deposits

directly to State Treasury funds, consisting of cash, bank drafts,

bank cashier's checks, federal treasury checks and other forms of

Oklahoma Statutes - Title 62. Public Finance

remittance which are uniformly honored for payment. The State

Treasurer is further authorized to accept checks deposited directly

into State Treasury funds if the depositing state agency maintains

sufficient balances in their agency clearing account to cover return

items. Notwithstanding the provisions of subsection E of this

section, state agencies are authorized to maintain sufficient

balances in their agency clearing account to cover returned checks,

credit card adjustments, credit card returns, and other debit items.

Amounts of said balances shall be subject to approval by the State

Treasurer.

All checks, drafts, orders and vouchers so deposited shall be

credited and cleared at par and should payment be refused on any

such check, draft, order or voucher, or should the same prove

otherwise worthless, the amount thereof shall be charged by the

State Treasurer against the account or fund theretofore credited

with the same; and the person issuing the check, draft, order or

voucher shall be charged a fee of Twenty-five Dollars ($25.00) to

cover the costs of processing each returned check; provided, such

charge shall not be made unless efforts have been made to present

such check, draft, order or voucher for payment a second time.

Unless otherwise provided by law, such fee shall be deposited to the

revolving fund of the state agency to which the check, draft, order

or voucher was issued. If no revolving fund exists for the state

agency, then such fee shall be deposited to the General Revenue

Fund. The State Treasurer shall not accept for deposit to any

agency clearing account, or any agency special account, created

pursuant to the provisions of Section 7.2 of this title, any

warrant, check, order or voucher drawn against any state fund or

account in favor of any individual or other person except the state

officer, department, institution or agency for which account or fund

the deposit is made, or a bona fide student enrolled at any of the

state institutions of higher learning when such warrant, check,

order or voucher is endorsed to the institution as payment of any

fees or other accounts due such institution.

E. 1. Except as provided in paragraph 2 of this subsection, at

least once each month each state agency shall transfer monies

deposited in agency clearing accounts to the various funds or

accounts, subdivisions of the state, or functions as may be provided

by statute and no money shall ever be disbursed from the agency

clearing account for any other purpose, except in refund of

erroneous or excessive collections and credits.

2. District offices under the control of the Corporation

Commission shall be permitted to make deposit of receipts on a

monthly basis, provided that such receipts must be deposited within

the month received or when such receipts equal or exceed One Hundred

Dollars ($100.00), whichever first occurs. The Oklahoma Tourism and

Recreation Department and entities under its control shall be

Oklahoma Statutes - Title 62. Public Finance

required to make deposit of receipts on a weekly basis, provided

that such receipts must be deposited within seven (7) calendar days

from the date received or when such deposits equal or exceed Five

Hundred Dollars ($500.00), whichever first occurs.

F. Funds and revenues of the Oklahoma Municipal Power

Authority, the Grand River Dam Authority, the Oklahoma Ordnance

Works Authority and the Midwestern Oklahoma Development Authority

are exempt from the requirements of this section.

G. Monies used for investment purposes by the Oklahoma

Firefighters Pension and Retirement System, the Oklahoma Police

Pension and Retirement System, the Uniform Retirement System for

Justices and Judges, the Oklahoma Law Enforcement Retirement System,

the Oklahoma Public Employees Retirement System, the Teachers'

Retirement System of Oklahoma, the Oklahoma State Regents for Higher

Education, the State and Education Employees Group Insurance Board

and the Commissioners of the Land Office are exempt from the

requirements of this section, and shall be placed with the

respective custodian bank or trust company.

Added by Laws 1947, p. 364, § 1, emerg. eff. April 16, 1947.

Amended by Laws 1959, p. 246, § 1, emerg. eff. June 16, 1959; Laws

1968, c. 131, § 1, emerg. eff. April 8, 1968; Laws 1973, c. 46, §

10, operative July 1, 1973; Laws 1981, c. 218, § 21, emerg. eff.

June 2, 1981; Laws 1985, p. 1684, H.J.R. No. 1039, § 2, eff. Nov. 1,

1985; Laws 1986, c. 245, § 6, emerg. eff. June 12, 1986; Laws 1987,

c. 163, § 3, eff. Nov. 1, 1987; Laws 1988, c. 244, § 6, emerg. eff.

June 24, 1988; Laws 1988, c. 321, § 43, operative July 1, 1988; Laws

1989, c. 375, § 13, emerg. eff. June 6, 1989; Laws 1990, c. 168, §

1, eff. Sept. 1, 1990; Laws 1990, c. 337, § 12; Laws 1991, c. 335, §

19, emerg. eff. June 15, 1991; Laws 1995, c. 212, § 1, eff. July 1,

1995; Laws 1996, c. 219, § 2, eff. July 1, 1996; Laws 2008, c. 123,

§ 1, eff. July 1, 2008. Renumbered from § 7.1 of this title by Laws

2009, c. 441, § 64, eff. July 1, 2009.

NOTE: Laws 1981, c. 204, § 1 repealed by Laws 1985, p. 1688, H.J.R.

No. 1039, § 8, eff. Nov. 1, 1985. Laws 1989, c. 284, § 3 and Laws

1989, c. 318, § 1 repealed by Laws 1990, c. 337, § 26. Laws 1990,

c. 264, § 118 repealed by Laws 1991, c. 335, § 36, emerg. eff. June

15, 1991.

§62-34.58 Information on income, disbursements and transfers.

A. Each state agency shall furnish to the Director of the

Office of Management and Enterprise Services, in such form as the

Director shall prescribe, detailed information showing the income,

disbursements, and transfers for each agency clearing account and

each agency's special account. Income, disbursements and transfers

shall be identified in accordance with code designations as provided

in the accounting procedures of the Office of Management and

Enterprise Services.

Oklahoma Statutes - Title 62. Public Finance

B. The Director of the Office of Management and Enterprise

Services may approve any modification in the code designations of

income, disbursements and transfers that he or she finds expedient.

C. The State Treasurer shall not honor vouchers disbursing and

transferring monies from agency clearing accounts or special

accounts, when he or she has been notified by the Director of the

Office of Management and Enterprise Services that an agency is not

in compliance with the provisions of subsection A of this section.

Added by Laws 1947, p. 365, § 3, emerg. eff. April 16, 1947.

Amended by Laws 1973, c. 46, § 11, operative July 1, 1973; Laws

1996, c. 290, § 7, eff. July 1, 1996; Laws 2009, c. 441, § 37, eff.

July 1, 2009. Renumbered from § 7.3 of this title by Laws 2009, c.

441, § 64, eff. July 1, 2009. Amended by Laws 2012, c. 304, § 384.