Agency Cash Management Plans

Based on G.S. 147-86.10 "It is the policy of the State of North Carolina that all agencies, institutions, departments, bureaus, boards, commissions and officers of the State, whether or not subject to the Executive Budget Act, Chapter 143, Article 1 of the General Statutes, shall devise techniques and procedures for the receipt, deposit, and disbursement of moneys coming into their control and custody which are designed to maximize the interest-bearing investment of cash, and to minimize idle and nonproductive cash balances."

The procedures required to meet the aforementioned statutory requirement are as follows:

• Each agency, institution, department, bureau, board or commission must develop a cash management plan that coincides with the uniform statewide cash management plan of the State of North Carolina and any cash management directives or policies issued by the State Controller.

• The plan must be submitted for approval to the the State Cash Management Officer, Office of the State Controller.

• The State Controller will acknowledge approval or disapproval by letter to the agency, institution, department, bureau, board or commission.

• Any change to the cash management plan must be approved by the Office of the State Controller.

• A copy of the approved cash management plan and any changes to the plan must be kept on file by the agency, institution, department, bureau, board or commission and be made available to the State Auditor for compliance auditing.