Clearing Account Administration  A clearing account is a demand deposit account outside the state Treasury and controlled by a state agency as a means of forwarding funds to the state Treasury, refunding, or transmitting funds to the Department of Revenue.

Establishing Clearing Accounts  Any agency, board, bureau, commission, institution, or department desiring to establish a clearing account must forward a letter to the state Treasury requesting approval thereof and a completed Request New Clearing Account form.

Reestablishing Clearing Accounts  The state Treasury will review all clearing accounts each biennium and determine if the volume and complexity justify continuing the account. On or after July 1, of each odd-numbered year, the Chief Financial Officer will notify each agency, board, bureau, commission, institution or department which clearing accounts are not approved for continuation.

Forwarding Money  Moneys in clearing accounts that are to be forwarded to the state Treasury must be forwarded using the general schedule contained within Rule 69C-1.005, F.A.C. unless another schedule is approved by the Chief Financial Officer.

Reporting Balance  All organizations having clearing accounts shall report the balances in each account at the end of each calendar quarter to the state Treasury on or before the twentieth (20th) day of the following month. (This information should be provided on-line at this site). A copy of account analysis information required by Rule 69C-1.005, F.A.C. should be forwarded to the state Treasury at the same time.

Revolving Funds  Quarterly balances in revolving funds outside the statewide consolidated revolving account are to be reported to the Treasury under the same guidelines as clearing accounts.