The State Treasurer's Office (STO) is responsible for processing the remittance of funds collected by various State agencies for credit into their Centralized Treasury System (CTS) accounts. The Report of Deposit (ROD) form is the most common process used by State agencies in reporting their collected funds to STO. Currently, these forms are 5-part, carbon inter-leaved paper forms. STO processes approximately 190,000 forms annually.
In lieu of the current 5-part ROD forms, STO has developed an Electronic Deposit Form (EDF) Internet-based application for use by California State agencies. This electronic form eliminates the need for agencies to submit the ROD paper forms to STO and eliminates STO from manually keying these deposits into the system.
In order to access and use all functions of the EDF application you will need the following:
- An Internet connection
- Internet Explorer 5.5 or higher
- Adobe Acrobat Reader 5.0 or higher
- Microsoft Excel 2000 or higher
- Laser printer capable of printing within 3/8" from the bottom of the page
- Quality approved MICR toner
- Deposit Paper (24 lb. & Twice Perforated, 8½" x 11)
There are numerous benefits associated with the implementation of the EDF application:
- Cost savings - the cost of paper deposit forms is currently $0.31 per form versus the cost of the EDF forms, which is between $0.06 and $0.15 per form, depending on the cost of toner. There are also cost savings associated with reduced staff time processing and elimination of delivery costs
- Reduction of posting and mathematical errors
- More timely credit to agency CTS Accounts
- Elimination of re-ordering deposit forms when there are changes in the depository bank information or agency runs out of deposit forms
- On-line reporting capabilities for faster reconciling and accountability purposes