Consolidated Revolving Account
|
The Consolidated Revolving Account system consists of a single bank account at a financial institution with the capability to track activity of multiple statewide participants through the use of "sub-accounts". The consolidated revolving account concept allows state agencies to establish signatory authority, write checks, and fund disbursement activity on their individualized sub-account. |
A sub-account numbering system allows the Treasury to operate an internal system to sort and post transactions and prepare monthly statements. Balances in the sub-accounts are automatically invested in the Treasury Special Purpose Investment Account (SPIA). This program allows state agencies to avoid bank service charges and earn interest on their balances. |
Forms for consolidated revolving account
|
|
|
|