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Trustee Accounts Overview

The Administrative Services of the Office of the State Comptroller issues a manual that contains the procedures for maintaining trustee accounts. A request to establish a trustee account requires the approval of the State Comptroller.

Sections 4-52 through 4-56 of the General Statutes provide for the definition, establishment and management of trustee accounts. The statutory definition of trustee account is "any account operated in any state educational institution or welfare or medical agency for the benefit of the employees or students of such institution or agency, including so-called clients' funds in state hospitals, the revenue of which is derived from the operation of canteens, vending machines, dramatics, recitals, student activity fees, membership fees, deposits, gifts, donations, bequests or any other legal source compatible with the good government of such institution or agency."

The funds known as activity or welfare funds were by statute in 2002 designated trustee accounts. Agencies were notified of the statutory changes affecting activity and welfare funds in Comptroller's Memorandum No. 2002-32.

Form CO-1052, Trustee Account Request for Account Activity, must be completed to make a request to establish or close a trustee account. This form must also be completed to request a transfer of monies from one restricted account to another. Form CO-1052 must be submitted to the Administrative Services  of the Office of the State Comptroller to obtain prior approval for any single expenditure in excess of $1,000 or any combination of expenditures in excess of $1,000 for any single project, contract or event within a 12 month period.

Form: CO-1052 (Rev 7/2015)

Manual: Activity and Welfare Manual

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