§ 19-4-503 - Deposit of funds in State Treasury. - Arkansas Statutes

19-4-503. Deposit of funds in State Treasury.

(a) The Chief Fiscal Officer of the State shall have the authority, upon request of a state agency having funds on deposit in a depository other than the State Treasury, to authorize the agency to deposit the moneys in the State Treasury.

(b) The Chief Fiscal Officer of the State shall determine the classification of the funds and shall designate or create the State Treasury fund into which the moneys are to be deposited.

(c) The appropriation acts which appropriated the cash moneys shall be construed to be in conformity with Arkansas Constitution, Article 5, 29, and Arkansas Constitution, Article 16, 12, for withdrawing moneys from the State Treasury.

(d) All moneys deposited in the State Treasury under the provisions of this section shall be deposited as nonrevenue receipts and shall not be subjected to the provisions of 19-5-205(e) unless the source of the revenue is specifically classified in 19-6-201 or 19-6-301.

(e) If any moneys classified as trust funds under the provisions of this section earn interest, then that interest shall be credited to the trust fund.