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65.10 Financial Services Agreements |
65.10.10
July 1, 2010 |
Authority for these policies |
65.10.10.a |
RCW 43.08.015 states that: "Within the policies and procedures established pursuant to RCW 43.41.110(14) and 43.88.160(1), the state treasurer shall take actions as are necessary to ensure the effective cash management of public funds. This cash management shall include the authority to represent the state in all contractual relationships with financial institutions. The state treasurer may delegate cash management responsibilities to the affected agencies with the concurrence of the office of financial management." |
65.10.10.b |
RCW 43.88.160(5) states that: "The treasurer shall:
It shall be unlawful for the treasurer to disburse public funds in the treasury except upon forms or by alternative means duly prescribed by the director of financial management." |
65.10.10.c | RCW 39.58.080 states that: “(1) Except for funds deposited pursuant to a fiscal agency contract with the state fiscal agent or its correspondent bank, funds deposited pursuant to a custodial bank contract with the state’s custodial bank, and funds deposited pursuant to a local government multistate joint self-insurance program as provided in RCW 48.62.081, no public funds shall be deposited in demand or investment deposits except in a public depositary located in this state or as otherwise expressly permitted by statute: PROVIDED, That the commission, or the chair upon delegation by the commission or chair deem appropriate, a treasurer to maintain a demand deposit account with a banking institution located outside the state of Washington solely for the purpose of transmitting money received to public depositaries in the state of Washington for deposit.” |
65.10.20
July 1, 2010 |
Applicability |
This chapter is applicable to all agencies of the state of Washington, unless otherwise exempted by statute or rule. The Budget and Accounting Act (RCW 43.88.020) defines the term "Agency" to mean and include "...every state office, officer, each institution, whether educational, correctional or other, and every department, division, board and commission, except as otherwise provided..." Agencies may request delegation of authority from the Office of the State Treasurer (OST). |
65.10.30
October 1, 2000 |
Responsibilities of the Office of Financial Management |
The Office of Financial Management (OFM) has the following responsibilities related to agreements with financial institutions:
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65.10.40
July 1, 2010 |
Responsibilities of the Office of the State Treasurer |
The Office of the State Treasurer (OST) has the following responsibilities related to agreements with financial institutions:
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65.10.50June 1, 2002 |
Agency responsibilities |
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