Electronic Deposit Form (EDF) Program

Requirements/Benefits

Background

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 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 is stored in EDF up to one year allowing agencies to view reports and deposit forms. Agencies have the ability to download their deposit data from the EDF application in Excel format. The EDF process reduces addition and keying errors encountered with paper deposits. Agencies also get the benefit of same day credit to their checking account and no longer have to send the Treasurerís copy of the ROD to the State Treasurerís Office.

The EDF process should be considered by all agencies for their central and field offices. Interested agencies can contact the STO Bank Reconciliation Section for more information and to get set up on the EDF training site. After agency staff has become familiar with the program and completed quality control testing on the EDF deposit forms, the STO will work with the agency to establish an implementation date.

System Requirements

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)

Benefits

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