Main Services

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  Emergency Financial First Aid Kit

  To help you take an important step in financial preparedness for disasters, Treasurer Dennis Milligan is pleased to provide the Emergency Financial First Aid Kit (EFFAK), a production of the Federal Emergency Management Agency (FEMA) and Operation HOPE . The EFFAK is a flexible tool designed to help individuals and families at all income levels collect and secure the documentation they would need to get on the road to recovery without unnecessary delays, should disaster strike. The EFFAK also includes helpful tips and suggestions regarding how to safeguard important information, what to do in case of an emergency, and how to work with others to strengthen community preparedness.

  Use the 2 links below to download the Overview file and the FEMA form which helps you prepare for the financial impact of a disaster, should it occur.

  • Emergency Financial First Aid Kit (Overview)
  • Emergency Financial First Aid Kit (Form)

• local government

  The Local Government Services division is responsible for distributions to Arkansas’s 75 counties and 501 incorporated cities.

  The monthly distributions are the County and Municipal Aid, commonly known as turnback, and Local Sales and Use Taxes. The Treasury also distributes several other special revenues to cities and counties throughout the year.

  Distributions total over 1.7 billion dollars each fiscal year, an important part of our state’s local economy.

  • Local Government Services
  • Revenue Distributions

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  cash management

  The Cash Management Division works with banks and investment firms, initiating daily payment wires and fund transfers to and from the Treasury’s demand accounts to maintain consistent balances. This division also coordinates with the Department of Finance and Administration and other agencies concerning state fund transfers, adjustments, and collection items.

  In addition, the Cash Management Division distributes General and Special Revenues on a monthly basis to state agencies, colleges and universities according to the Revenue Stabilization Act. Interest earning distributions are also completed monthly as set forth by law.

  Finally, Cash Management balances the General Ledger each day, with all the other sections of Treasury operations, and reports to the Treasurer and staff.

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  Receipts Processing

  The Treasury receives deposits on a daily basis. All deposits are verified and documented upon receipt. Each day, the receiving department balances its books and submits a deposit summary to the cash management desk.

  There are three ways money is received by the Treasury:

  Deliveries
  

  State agency personnel deliver deposits to the Treasury. State agencies collect money for fees, taxes, etc. which is deposited to the Treasury and allocated to a respective fund.

  Federal Reserve Wires
  

  Agencies request funding from the Federal Reserve Department. Once funding is approved, the agencies setup an account at the Treasury. The Federal Reserve wires money to the Treasury where agency personnel can access the federal funds.

  DFA Revenue
  

  The Department of Finance and Administration sends a daily deposit with the “Revenue Receipts Deposit” form to the Treasury. The process for verifying the deposit is the same as documented above for deliveries made to the Treasury.

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  Collateral

  The Collateralization Policy was adopted to insure that the State Treasury Funds deposited with a financial institution must be secured at all times by conveyance of a perfected security interest in eligible securities as prescribed in Arkansas Code Annotated (Statute Symbol) 9-8-209 and (Statute Symbol) 23-32-1003 and evidenced by a security agreement.

  Duties Include:
  

  Audit banks collateral to be sure adequate securities have been pledged and have a market value equal to at least 105% of the amount of Treasury deposits and / or investments (including accrued interest), and that those securities be held by a third-party Financial Institution Custodian.

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  warrants processing

  A warrant is a check issued by Arkansas State Agencies for payments of services rendered. Warrants can be issued as a paper warrant or an electronic payment. The Warrant Division redeems these warrants once a payee cashes the warrant or the electronic payment is received at the payee’s bank.

CD Trust Investment Forms

The forms listed below are PDF files. You will need Adobe Acrobat / Reader to download and view.

• Security Agreement
• Custodial Services Agreement
• Custodial Agreement FNBB
• Custodial Agreement FHLB
• ACH Transaction Authorization
• Designation of Authorized Representatives
• Designation of Principal Office/Branch
• Money Management Trust fund Participant Information Revisions
• Semi-Annual Certification, June 2016

click here to download adobe acrobat reader

CD Trust Investment

CD Trust Investment program was established to allow State Agencies to invest their trust funds in Certificates of Deposit with Arkansas State banks. State Agencies and Arkansas banks both benefit from this program by keeping money in Arkansas and yielding the best available rate to the State Agencies.