006.09.1 R2-19-5-101. Cash Funds Service-Charge
AR ADC 006.09.1 R2-19-5-101Arkansas Administrative Code
Ark. Admin. Code 006.09.1 R2-19-5-101
006.09.1 R2-19-5-101. Cash Funds Service-Charge
ACA § 19-5-206 requires certain State agencies whose cash funds, whether appropriated or not and whose annual revenues as reflected in the previous year's audit exceeds $25,000, shall remit on the first day of each calendar quarter a 1 ½ % service charge to the Treasurer of State. Such funds shall be deposited into the State Central Services Fund (HSC0000) held by the Treasurer of State. Requirements of this service charge, the method of computation and agencies included (excluded) are as follows:
State agencies subject to this statutorily required service charge shall include all boards, commissions, departments, agencies, institutions, offices, or officers and any other office or unit of the State of Arkansas created or established pursuant to law or pursuant to any action of the Governor functioning under appropriation of the General Assembly or functioning as a representative of the State of Arkansas without appropriation of the General Assembly.
Excluded from this service charge are the Office of the Commissioner of State Lands, the Department of Parks and Tourism, the Department of Education and any of its divisions, community colleges and branches thereof, universities and branches thereof, technical colleges, technical institutes, post secondary vocational-technical schools, comprehensive lifelong learning centers, funds received from the federal government, funds held in trust, funds of the various State retirement systems and funds received by the Department of Arkansas Heritage from voluntary donations and non-federal grants. The service charge to be remitted on the first day of each calendar quarter shall equal 1 ½ % of the total expenditures of the previous calendar quarter from all cash funds as defined in ACA § 19-4-801. These quarterly expenditures are exclusive of any expenditure which paid the previous quarter's service charge.
In case funds are held outside the State Treasury, remittance shall be in the form of a check payable to the Treasurer of State and coded as an operating expense (commitment item 502:00:02) (general ledger account 5080005000). The Treasurer of State shall deposit each check as a non-revenue receipt in the State Central Services Fund to provide financial support for certain required administrative functions of State government.
If cash funds are on deposit within the State Treasury (“N” funds), the amount required under this section shall be transferred from the State agencies Treasury fund to the State Central Services Fund.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.09.1 R2-19-5-101, AR ADC 006.09.1 R2-19-5-101
| End of Document |