Issue Date:
Revised Date:

Legal Citations

Origin:

1981 by H.B. 889, 67th Leg., R.S.

Purpose

To hold money returned by financial institutions which had been transmitted for direct deposit where problems prevented credit being given to individual depositors. Entries are made to the credit of the agency issuing the original payment (using Revenue Object 3790). The agency is then responsible for correction of the amounts in the correction account by either:

(a) transfer of the funds back to original issuing fund

(b) refund to person for whom original payment was made

Classification Group 09: Suspense Funds [?]
Depository Interest Credited to General Revenue Fund (0001)
Disposition of Balance Refunded or returned to source fund.
Appropriation Technique Not appropriated for state expenditure.

Administering Agencies

  • Any agency

Financial Activity

To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Note

USAS Values

USAS Title DIRECT DEPOSIT CORRECTION ACCT
Consolidated Fund
State Fund Group 09 - SUSPENSE FUNDS
USAS Status A
Those funds created to receive deposits that cannot be readily identified as belonging to a specific fund.