• State Disbursing
• Cash Management Control System (CMCS)
• Disbursing Accounts
• Federal Funds
• GO Bond and COP Proceeds
• General Fund Monthly Financial Reports
• Tax Compliance
• State General Statutes

GO Bond and COP Proceeds

For support please contact OSC Support Services:
(919) 707-0795 or OSC.Support.Services@osc.nc.gov

General obligation (GO) bond proceeds must be invested by the State Treasurer and certificates of participation proceeds (COPs) must be held by the Trustee, until they are required for expenditure. In addition, IRS Regulation Chapter 26 Part 1.148-6 (D)(7), mandates that funds derived from these two sources must be disbursed to contractors within 24 hours of receipt, in order to prevent violation of arbitrage laws. To insure compliance with both of these requirements, the Office of the State Controller (OSC) has established the following policy and procedure which must be followed when requisitioning funds or preparing transfers according to the following draw schedules.

Policies

GO Bond, Special Indebtedness and Two Thirds GO Bonds, Transfers and Disbursements

Draw Schedules

General Obligation Bonds Draw Dates

COP's Draw Schedule