Authorization Number : 10900630
Agency Series No. : SEC-815
Status : Active
Agency Web Link :
Agency : TOS
Confidential Description :
Division :
Vital Description :
Section :
Record Title : Reconciliation of depository banks to FICA program banks
Revision : 1
Record Description : On a daily basis, the Trust department reconciles the FDIC identification numbers of banks on the Ohio Board of Deposit''s list of approved depository banks to hold state funds against the FDIC identification numbers of banks that hold Treasurer of State and STAR Ohio deposits as part of the Federally Insured Cash Account (FICA) program. The purpose of this reconciliation is to ensure depository banks are not holding state funds that are either uncollateralized or uninsured. Each day a report is generated that shows any exceptions or lack thereof. Any reports that show exceptions also contain supporting documentation as to the resolution of that exception.