Virginia Administrative Code › Title 1 - ADMINISTRATION › Agency 75 - DEPARTMENT OF THE TREASURY › Chapter 20 - VIRGINIA SECURITY FOR PUBLIC DEPOSITS ACT REGULATIONS › Section 1VAC75-20-110 - Reports by qualified public depositories

Current through Register Vol. 40, No. 24, July 15, 2024
A. Within 10 calendar days after the end of
				the month, each qualified public depository shall submit to the Treasury Board
				an electronic report of such data required by the Treasury Board, certified as
				to its accuracy by an authorized official of the qualified public depository.
				The report shall include the total amount of public deposits held by it at the
				close of business on the last day in the immediately preceding month; the
				average daily balance for such month of all public deposits held by it during
				the immediately preceding month; the average daily balance of all bank deposits
				for the immediately preceding month; the total required collateral; the total
				par value and the total current market value of collateral at the close of
				business on the last day in the immediately preceding month; and the average
				daily collateral balance. Included with this report shall be a detailed
				schedule of pledged collateral to include the security description, coupon
				rate, CUSIP (Committee on Uniform Securities Identification Procedures) number,
				maturity date, debt rating by Moody's Investors Service, Inc., Fitch Ratings,
				Inc. or Standard & Poor's Financial Services LLC, par value amount, book or
				principal value amount, and current market value amount, determined pursuant to
				1VAC75-20-70.
B. Qualified public depositories selecting
				the dedicated method to collateralize their public deposit balances shall also
				submit reports similar to those outlined in subsection A of this section each
				week for the immediately preceding week.
C. At the request of a public depositor for
				which a qualified public depository holds deposits, within 10 calendar days
				after the end of a month, the qualified public depository shall submit a
				statement indicating the total public deposits in each account to the credit of
				such depositor on the last banking day in the immediately preceding month and
				the total amount of all public deposits held by it upon such date.
D. Within the first 10 calendar days of each
				quarter, qualified public depositories shall submit to the Treasury Board an
				electronic report by public deposit account to include the account number, type
				of account (demand or savings), full name of account, name of public entity,
				custodian name and title, federal tax identification number, amount on deposit
				in the account, amount on deposit secured by federal deposit insurance, and
				amount of deposit secured by pledged collateral. Qualified public depositories
				shall also within the first 10 calendar days of each quarter provide to each
				public depositor for whom it holds public deposits, a schedule detailing the
				public deposit accounts reported to the Treasury Board for that depositor,
				indicating the account name and number, type of account, amount on deposit
				secured by federal deposit insurance, and total account amount to be secured by
				its pledged collateral.
E. By the
				10th calendar day of July, qualified public depositories shall submit an annual
				certification from an independent certified public accountant or their internal
				audit department, attesting to the accuracy of the public deposit balances
				reported to the Treasury Board during their previous fiscal year in accordance
				with the instructions issued by the Treasury Board.
Statutory Authority: § 2.2-4405 of the Code of
					 Virginia.