2005 Minnesota Statutes

     16A.275 Agency receipts; deposit, report, credit. 

    Subdivision 1.    If $250, daily.  Except as otherwise 
 provided by law, an agency shall deposit receipts totaling $250 
 or more in the state treasury daily.  The depositing agency 
 shall send a report to the commissioner on the disposition of 
 receipts since the last report.  The commissioner shall credit 
 the deposits received during a month to the proper funds not 
 later than the first day of the next month.  

    Notwithstanding the general rule stated above, the 
 commissioner of revenue is not required to make daily deposits 
 if (1) the volume of tax receipts cannot be processed daily with 
 available resources, or (2) receipts cannot be immediately 
 identified for posting to accounts. 

    Subd. 2.    Exception.  The commissioner may authorize 
 an agency to deposit receipts totaling $250 or more less 
 frequently than daily for those locations where the agency 
 furnishes documentation to the commissioner that the cost of 
 making daily deposits exceeds the lost interest earnings and the 
 risk of loss or theft of the receipts.  

    HIST: 1976 c 231 s 18; 2Sp1981 c 1 s 4; 1984 c 628 art 2 s 1; 
 1Sp1985 c 13 s 103; 1987 c 268 art 18 s 4; 1987 c 275 s 5