Electronic Deposit Form (EDF) Program
Overview
The State Treasurer's Office (STO) has developed an Electronic Deposit Form (EDF) Internet-based application for use by California State agencies. This application allows an agency to access on-line Report of Deposit (ROD) forms, and key their deposit information directly into our EDF application. The EDF forms are printed on-site at the agency, using a laser printer, MICR toner and special 3-part perforated deposit paper. The EDF deposit information is downloaded directly into STO's deposit system daily. In addition, the EDF system gives State agencies reporting capabilities for reconciliation purposes. Deposit information will be stored in EDF up to one year. Agencies have the ability to download their deposit data from the EDF application in Excel format.
STO will continue implementing this new program in phases over the next few years. Interested agencies may be invited to attend a demonstration of the EDF application, and after technical requirements for participation have been met, the agency will be assigned the appropriate access to our EDF Test Site. After agency staff has become familiar with the program and completed quality testing on the EDF deposit forms, the agency will work with STO to establish an implementation date.
The following five agencies were part of our 2004 phase one (pilot program) in the utilization of the EDF application:
- Employment Development Department
- Franchise Tax Board
- Board of Equalization
- Public Utilities Commission
- Public Employees Retirement System
As more agencies and accounts were added, the number of deposits and the total amount of the deposits increased. By the end of April 2007, there were a number of days where over $1 billion was processed. Each of the participants in the EDF program is extremely pleased with the cost savings and efficiency associated with this program.