The trust department of a bank or trust company. The trust department of the depository bank. However regardless of the amount on hand, local account receipts are to be deposited weekly. 85.50.20.b Local funds are to be deposited in qualified public depositories located in this state. 85.50.30.b Undeposited receipts exclude monies that have not been entered into the agency's records.
All differences are to be investigated to ascertain the reason for the discrepancy.
Procedures for recording cash over and short are prescribed in Subsection 85.20.10 of this manual. The balance shown on the bank statement may not agree with the agency's book balance. Variances can occur because of outstanding checks, deposits in transit, bank service charges, or other adjustments. Adjusting entries may be required when entries appear on the bank statement without corresponding entries in the agency's books. Adjusting entries, if necessary, are to be promptly prepared and recorded in the agency's records.