State of Connecticut

STATE OF CONNECTICUT
OFFICE OF THE COMPTROLLER
GAAP REPORTING FORM
CASH IN BANK
FOR THE FISCAL YEAR ENDED JUNE 30, 1994

GAAP Form No.1

Instructions

For purposes of this form, "cash in bank" is defined as bank accounts which are in the custody of your agency at June 30. For example, checking accounts, certificates of deposit, etc.

Note: Do not include petty cashor STIF accounts on this form.

If your agency has any such cash account(s), please complete columns 1-8 of GAAP Form No. 1 as follows:

  1. Enter the fund number (four-digit code) in which the cash is reported, if applicable. Otherwise, enter name of fund.
  2. Enter the type of bank account (e.g. savings, checking, certificates of deposit, etc.)

    Note: If your agency has more than one account in the bank, list them by account type. Do not list each account individually.

  3. Enter the name of the bank in which the account(s) is (are) kept.
  4. Indicate the purpose or use of the account(s).
  5. Enter the balance of the account(s) as reported in your records as of June 30.

    Note: If applicable, the balance of the account(s) reported on this form should agree with the balance of the account(s) reported in the financial statements submitted to us (see GAAP Form No. 8).

  6. Enter the balance of the account(s) as reported by the bank (use bank statements, passbooks, etc.) as of June 30.
  7. Enter the amount of the bank balance (column 6) that is insured by the Federal Depository Insurance Corporation (FDIC) as of June 30.

    Notes:

    1. The FDIC insures up to $200,000 deposited at any one insured bank located in the State. The total amount of all interest-bearing accounts (e.g. savings accounts, CD's, etc.) is insured up to $100,000 and the total amount of all non-interest-bearing accounts (e.g. checking accounts) is insured up to $100,000.
ACCOUNTING MANUAL 10-14 MAY 1994
GAAP Form No.1 Page 2
  1. For each bank, enter in this column either the total amount of bank deposits (column 6) or $100,000 ($200,000 if your agency has both account types described in note "a"), whichever is lower.
  2. Deposits held in a fiduciary capacity by your agency may be eligible for pass-through insurance of up to $100,000 for each owner or beneficiary. If the total amount of bank deposits exceeds the amount of FDIC insurance (note "a"), your agency should contact the bank in order to determine the amount of insured deposits.
  1. Enter the amount of the bank balance (column 6) that is collateralized by the bank as required by State statutes.

    Notes:

    1. If your agency reports more than one bank on this form, complete this column for each bank.
    2. Do not complete this column for any bank whose total deposits (column 6) are 100% insured.
    3. The amount of deposits that is collateralized by the bank is determined by multiplying the total amount of bank deposits (column 6) times the bank's collateral percentage requirement as of June 30 (see note "d").
    4. The bank is required to maintain, at all times, eligible collateral in an amount equal to a percentage of its public deposits. This percentage may be 10%, 25%, 100% or 120% depending on the financial condition of the bank. Quarterly, the bank must report on the collateral maintained as security for its public deposits to the Commissioner of Banking. This information is available to the bank's public depositors. So, your agency should call the bank's main office to obtain the applicable percentage.
    5. If the collateralized amount (note "c") plus the insured amount (column 7) exceeds the total amount of bank deposits (column 6), enter as the collateralized amount the difference between the total amount of bank deposits and the insured amount (i.e., column 6 minus column 7).

If your agency does not have any such cash accounts, please check "form not applicable" on GAAP Forms Control Sheet.

ACCOUNTING MANUAL 10-14.1 MAY 1994

Notes: GAAP Form No. 1
a. Read the instructions before completing this form.
b. Round off to whole numbers.

State of Connecticut
Office of the Comptroller
GAAP Reporting Form - Cash in Bank
For the Fiscal Year Ended June 30, 1994

1 2 3 4 5 6 7 8
Fund Number
or Fund Name
Type of
Bank Account
Name of
Bank
Account
Description
Book
Balance
Bank
Balance
Insured
Balance
Collateralized
Balance
Totals
Agency Name_____________________________Agency Number_____
Prepared by_________________________________Date_____
(signature and title)
Reviewed by_________________________________Date____
(signature and title)
Agency Telephone Number___________________________________
Reminder
This form is due on September 2, 1994. When completed, return it with the GAAP Forms Control Sheet.
ACCOUNTING MANUAL 10-15 MAY 1994

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