1 Va. Admin. Code § 75-20-110
Current through Register Vol. 41, No. 6, November 4, 2024
Section 1VAC75-20-110 - Reports by qualified public depositoriesA. 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.1 Va. Admin. Code § 75-20-110
Derived from VR640-02 § 11, eff. November 18, 1993; Amended, Virginia Register Volume 39, Issue 18, eff. 7/1/2023.Statutory Authority: § 2.2-4405 of the Code of Virginia.