Financial Administration

APPROPRIATION 993

APPROPRIATION 993

Title:  Unredeemed Bad Checks

State Fund/Agency
Number
Budget
Category
Appropriation
Type
Statute
Reference
Cash Balance
Carryover
103/285   Continuing 20.907(5) (e 13) Yes

Statute Language:

Custody Accounts: An account may be established and moneys expended there from under this subsection for any of the following purposes:

  1. A trust account or deposit containing moneys which are owned or payable or may be determined to be owned by or payable to persons other than the state.
  2. Deposit of checks, share drafts or other drafts drawn upon accounts containing insufficient funds.
  3. Sales taxes collected by state agencies prior to the date prescribed for payment to the department of revenue
  4. Insurance loss receipts.
  5. Income producing securities donated to the state for a specified purpose.
  6. Advances from child caring institutions and counties and moneys receivable from counties under s. 46.037.
  7. Moneys held as the result of audit settlements pending appropriate disposition.
  8. Rental revenues and expenses for temporary rental property held by the state.
  9. Advance payments of program revenue.
  10. Advance federal aid project payments.
  11. Medicare expenses chargeable to counties.
  12. Any contingent fund authorized by law, not directed to be deposited under a specific appropriation.
  13. Other purposes allowed by law.

 

Institutions Which Have Budget Authority for This Appropriation:

Not applicable. There is no budget for this appropriation.

Allowable Major Classes of Expense/Revenue:

Revenue codes 9904 (Bad Check Clearing) and 9907 (Bad Check Fee)

Special Restrictions or Policies/Procedures:

When checks do not clear through the banking system due to insufficient funds in the account the check is drawn, lack of endorsement, account is no longer open, checks deposited after their expiration date, etc. the State Treasury charges the appropriation with the face amount of the check plus a bad check processing fee of $15, when appropriate. The State Treasury initiates a receipt remittance advice charging the check amount to appropriation 993 as negative revenue coded to 9904 and also charging the bad check fee to code 9907 also as a negative revenue. The UW must obtain a replacement check from the source which originally issued the check that did not clear through the banking system (plus the additional $15 to cover the bad check fee) and deposit that money to 993 as positive revenue, using codes 9904 and 9907, to bring the balance in 993 to zero. This is the only use and purpose for appropriation 993.

Year-End Instructions (lapse, carry forward, etc.)

Year-end balances do carry forward to the next fiscal year.



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Last Updated: 02/24/2005