COMPTROLLER'S SEAL STATE OF CONNECTICUT

STATE OF CONNECTICUT

NANCY WYMAN
COMPTROLLER

OFFICE OF THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775

MARK OJAKIAN
DEPUTY COMPTROLLER

MEMORANDUM NO. 2000 - 30

June 1, 2000 

TO: Chief Administrative and Fiscal Officers, and Business Managers
Subject: Petty Cash EFT Replenishments

The offices of the State Comptroller and State Treasurer have recently expanded the Electronic Fund Transfer (EFT) program to vendors, non-profit organizations, towns and agency petty cash accounts.

Effective July 1, 2000, agency petty cash replenishments to bank accounts will be converted to EFT's. This method will provide prompt funding to agency bank accounts, eliminate emergency processing, and check pickup requests.

Procedures:

1a) Paperless Processing:
Agencies are to follow the EFT procedures as outlined in Comptroller Memorandum 98-7. Each petty cash replenishment document (CO-17RPC) must be audit released with a special code 70.
 
b) Paper Processing:
The notation "EFT-ACH" must be written in red letters on both the Expenditure Batch Header (CO-19) and the Request To Replenish Petty Cash Fund (CO-17RPC).
 
2) Completion of EFT Election Form:
Both your agency and the bank in which funds are to be deposited must complete the attached form. The FEIN/SSN on the forms refers to the Federal Employer Identification Number used when the account was established. Please return the completed form to the Accounts Payable Division by June 23, 2000.

If you have any questions regarding this matter, or have other vendors interested in receiving EFT payments, please contact Mark Aronowitz, Director - Accounts Payable Division at (860) 702-3399.

Sincerely,

 

 

Nancy Wyman,

State Comptroller

NW/MKA/ss

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