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NYS Comptroller

THOMAS P. DiNAPOLI

The Academy for New York State's Local Officials

Cash Management: A Tutorial for Local Governments and School Districts

Module 1: Speeding Up the Collection and Deposit of Receipts

Departments Depositing Funds Directly into the CFO's Account

Improving cash management starts by assessing your current and potential interest earnings. The schedule to be used depends on how funds are deposited. This section of the tutorial pertains to departments that deposit funds directly into the chief fiscal officer's account.

If your local government does not handle deposits in this way, click on the appropriate link below to get the schedules you need:

Departments Depositing Directly into the CFO's Account: The schedule shows the date of receipt and the date of deposit for each receipt. This schedule will also show the difference between the date of receipt and the date of deposit, and how often you expect the receipts to be deposited.

Step 1: Choose a specific period to review the departments (e.g., a three-month period).

Step 2: Determine how often you expect each department to deposit money into the CFO's account (e.g., every day).

For the period reviewed, base your potential interest earnings on the annual interest rate for the CFO's account.

SHOW ME AN EXAMPLE | LET ME TRY THE WORKSHEET | DOWNLOAD EXCEL SPREADSHEET

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