700.5 - HR-Payroll Policy - Agency Payroll Funds Transfers to the Office of the State Controller
Policy Area: HR-Payroll
Policy Sub Area: Payroll
Authority: G.S. 143B-426.39 Powers and Duties of the State Controller
Effective Date: 7/1/2007
Last Revision Date: N/A
Policy Owner/Division: HR-Payroll
Policy
All State entities whose payroll expense requirements are provided by a payroll system administered by the Office of the State Controller (OSC), shall ensure that sufficient funds are available and remitted to the OSC payroll disbursing account; prior to the date payments are scheduled to be made to employees and vendors receiving withholdings.
General Statute 143B-426.39 Powers and Duties of the State Controller
http://www.ncleg.net/EnactedLegislation/Statutes/HTML/BySection/Chapter_143B/GS_143B-426.39.html
OSC’s Cash Management Control System (CMCS) processes the transfer of funds to satisfy agency payroll expenses. The CMCS process overview is explained in the link: state-agency-resources/statewide-cash-management
OSC will charge back any bank fees incurred if an agency does not fund the payroll disbursing account in a timely manner.
Procedures
N/A
Accounting Guidance
N/A
Related Documents (Memos/Forms)
G.S. 143B-426.39 Powers and Duties of the State Controller
http://www.ncleg.net/EnactedLegislation/Statutes/HTML/BySection/Chapter_143B/GS_143B-426.39.html
Cash Management Control System Overview
state-agency-resources/statewide-cash-management
Revision History
- None to date