Streamlined banking newsletter [Jan. 2007 (Issue 6)]

Streamlined Banking Newsletter

January 2007 Issue 6
INSIDE THIS ISSUE
1 Important Dates to
Remember
1 Spotlight: Streamlined
Banking Pilot Agencies
5 Approved Policy Review 7 Take a Peek at HCM
Stop Payment Form
8 Take a Peek at FN Stop
Payment Form
9 Highlighted SB Team
Members of the Month
10 Upcoming Events 11 Training Update 11 Want to be "In the
Know?"
12 Glossary of Terms 12 Contact Us!
See Approved Policy Review on page 5

SLBFeedback@sao.ga.gov sao.georgia.gov 404.656.2133
Important Dates to Remember
Date Change *
Transition Session #4 January 11, 2007 * Transition Session #5 February 8, 2007* Transition Session #6 March 8, 2007*
Dates are subject to change
Spotlight: Streamlined Banking Pilot Agencies
In the next few issues of the newsletter, we will be highlighting the Streamlined Banking Pilot agencies.
Our pilot agencies include:
Department of Administrative Services Department of Banking & Finance Department of Audits & Accounts Office of Treasury & Fiscal Services State Board of Pardons & Paroles State Accounting Office
In this issue we are highlighting the State Accounting Office and the Department of Banking and Finance. We are very grateful for their participation in this very important project. We couldn't do what we do without you! Thanks to all of our pilot agencies!

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Streamlined Banking Newsletter

Spotlight: Streamlined Banking Pilot Agencies (continued)

A ti l I

State Accounting Office

The State Accounting Office was established on October 6, 2004 with an executive order signed by Governor Sonny Perdue. Governor Perdue signed House Bill 293, which codifies the realignment of the state's financial reporting and financial system responsibilities under a single State Accounting Officer.
The State Accounting Office is responsible for the following duties:
Establish statewide accounting and reporting standards and practices. Operate and improve statewide financial and human capital management systems. Prepare the state's Comprehensive Annual Financial Report (CAFR); the annual audited financial statement for
the entire state entity. Provide statewide financial information on interim basis. Train state accounting and payroll personnel in new polices, procedures and standards. Improve accountability, efficiencies and internal controls.
SAO Vision
Sound Fiscal Leadership for Georgia
SAO Mission
To be a trusted provider of timely, reliable and credible financial information to decision makers and citizens while promoting improvements in efficiency, accountability and stewardship in state government
SAO Customers
State Agencies State Executives (Governor, CFO, COO, OPB) Legislature (HBO, SBO) Investors holding state debt Citizens
SAO is located at: State Accounting Office 200 Piedmont Avenue Suite 1604 Atlanta, Georgia 30334-9010 Phone: 404-656-2133
Fax: 404-463-5089

Streamlined Banking Newsletter

Page 3

Spotlight: Streamlined Banking Pilot Agencies (continued)

Department of Banking and Finance

The Department of Banking and Finance (DBF) promotes the availability of safe, sound and competitive financial services through responsive, high quality regulation and supervision and the protection of the interest of consumers.
DBF is the state agency that regulates and examines banks, credit unions, and trust companies that are chartered by the State. The Department also has regulatory and/or licensing authority over mortgage brokers, mortgage lenders, mortgage processors, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia. As such, the Department works together with federal regulators that have overlapping responsibilities and with state agencies that serve the same groups but in different ways.
Our Vision
To be the best financial services industry regulator in the country Progressive. Proactive. Service-Oriented
Our Mission
To promote safe, sound, competitive financial services in Georgia through innovative, responsive regulation and supervision.
Our History
A new banking law for the State was approved on August 16, 1919, to become effective on January 1, 1920. The new law created the Department of Banking under the direction of a Superintendent of Banks. The Department of Banking was reorganized as the Department of Banking and Finance in 1972. In 1974, the banking laws were subject to substantial re-codification in the form of the Financial Institutions Code of Georgia. The new Code became effective April 1, 1975.
Since establishment of the Department in 1919, additional responsibilities have been assigned to the agency in the form of the Georgia Credit Union Act (1925); Trust Company Laws of Georgia (1927); Georgia Sale of Checks Act (1965); The Fiduciary Investment Company Act (1970); International Bank Agency Act (1972); Georgia Business Development Corporation Act (1972); Regulation of Check Cashers (1990); the Georgia Residential Mortgage Act (1993), and the Georgia Fair Lending Act (October, 2002).
Who We Serve The Department serves many audiences including: all licensed or regulated entities, consumers, consumer groups, the legislature, the Governor's Office, and other state and federal agencies. Those audiences are generally referred to as our "customers."

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Streamlined Banking Newsletter

Spotlight: Streamlined Banking Pilot Agencies (continued) A ti l II
Department of Banking and Finance

Our Divisions
Financial Institutions Supervision Division is responsible for the supervision, regulation and examination of depository financial institutions and their affiliated companies that fall under the regulatory authority of the Department. The division is also responsible for application and registration processing for the entities under their supervision. The Supervisory Division is responsible for the supervision of the Department's six examination districts, which have district work areas located in various geographic regions of the state to facilitate the supervisory process.
Administrative Division is responsible for human resource management, budgeting, accounting services, information systems, training activities, property management and records management.
Non-Depository Financial Institutions Division is responsible for the licensing, regulation and examination of mortgage lenders, brokers, and processors who are licensees and registrants under the law. The Division is also responsible for the licensing and supervision of check cashers, sale of check companies, and money transmitters.
Legal Division is responsible for providing legal and legislative drafting support for the Commissioner and staff.
Consumer Affairs section handles consumer complaints regarding financial institutions, mortgage licensees and registrants, and money service businesses regulated by the Department.
DBF is located at: Department of Banking and Finance
2990 Brandywine Road Suite 200 Atlanta, GA 30341
Phone: 770-986-1633 Fax: 770-986-1654

Streamlined Banking Newsletter

Page 5

Approved Policy Overview Escheatment (Financials/HCM)

Be sure to visit our website at www.sao.georgia.gov for more Policies and Procedures that are continuously being developed an approved. In the upcoming months, we will be highlighting the overviews for the Streamlined Banking Policies and Procedures in each of our newsletters.
Policies and Procedures that are approved and coming soon include:
Bank Administration Bank Communications Bank Distribution Bank Reconciliation Bank Settlement Cash Receipts Check Image Escheatment (Approved) NSF Returned Check Overview Revenue Collections Fund Source

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Streamlined Banking Newsletter

Approved Policy Overview Escheatment (Financials/HCM) continued

Policy Number CM-100006

Section Name Cash Management

Policy Name Check Escheatment

Effective Date

I. Purpose/Scope
The purpose of this policy is to provide agencies guidelines on the escheatment process for checks in conjunction with Department of Revenue's instructions on filing unclaimed property. The stated policies apply to all agencies and departments; however some procedures vary based on whether agencies are on Streamlined Banking versus non Streamlined Banking agencies.
II. Background
The "Disposition of Unclaimed Property Act", O.C.G.A. Section 44-12-190, protects the rights of owners of abandoned property and relieves those holding the property of the continuing responsibility to account for such property. Under the Act, when an agency holds property that belongs to someone else ("payee") but has lost contact with that owner for a specified period of time ("dormancy period"), that holder must turn over ("remit") the property to the Department of Revenue. The remittance must be accompanied by a report describing the property and contain certain information that will help the state advertise the property and take other steps to return the property to the rightful owner. The Department of Revenue serves as custodian for any property remitted under the Act, allowing the owners or their heirs an opportunity to claim their property in the future. Complete filing requirements can be located at http://www.etax.dor.ga.gov/ptd/ucp/index.shtml.
III. Policy
A. All agencies shall comply with the state statutes, "Disposition Unclaimed Property Act", and the filing requirements by the Department of Revenue.
B. For Streamlined Banking PeopleSoft agencies, SAO will escheat outstanding payroll checks over 1 year and agencies will escheat outstanding accounts payable checks over 5 years from the actual check issue date.
C. For Streamlined Banking PeopleSoft agencies, SAO will "mark" outstanding payroll and accounts payable checks as "escheated" on the GPFS system, after 180 days.
D. For outstanding checks over $50.00, agencies must exercise due diligence to contact a payee's last known address at least 60 days, but no more than 120 days prior to remitting the payee's check to the Department of Revenue.
E. Outstanding checks under $50 does not require documented communication attempts from agencies, however all outstanding checks must be remitted to Department of Revenue.
F. Agencies must annually remit escheated AP checks to Department of Revenue. G. Agencies shall not "VOID" stale dated checks in order to avoid the required escheatment process.
For the procedures related to this policy and more information go to http://sao.georgia.gov/00/channel_createdate/0,2095,39779022_59942120,00.html.

Streamlined Banking Newsletter

Page 7

Take a

Peek at the Payroll Stop Payment Request Form

Click here to access the Streamlined Banking Forms.

Page 8

Streamlined Banking Newsletter

Take a

Peek at the Vendor Stop Payment/Cancellation

Request Form

Click here to access the Streamlined Banking Forms.

Streamlined Banking Newsletter
Highlighted SB Team Members of the Month

Page 9

Deval Lott is a member of the State Accounting Office, Training & Communications staff. She is a 32 year state employee and has worked for Public Safety, DOAS, Technical & Adult Education, Georgia Technology Authority and the State Accounting Office.
DeVal was a member of the SAO Financials Production/Training staff during the recent upgrade of PeopleSoft. She is a member of the Fiscal Management Council.
She enjoys spending her free time on home improvement projects, traveling and with her friends and family.
Genie Barber is a member of the State Accounting Office, Training & Communications staff. She is a 17 year state employee and has worked for the Department of Human Resources, DOAS, Georgia Technology Authority, and the State Accounting Office.
Genie has worked on the Human Capital Management Production Support Team and participated in both the HCM and Financials upgrades of PeopleSoft. She is a member of the Fiscal Management Council.
Genie enjoys cooking, motorsports, photography, and spending time with her family.
Grant Bernardy is Partner at Elire Inc. He has been working on the Streamlined Banking project since August of 2005. He is a highly motivated information systems and treasury professional with 15 years of experience. Grant specializes in treasury and banking operations best practices. He has consulted on several large multinational implementations. Grant has been working on PeopleSoft for over 8 years.
Grant earned a Bachelor of Science degree in Business Computer Information Systems from St. Cloud State University located in St. Cloud, Minnesota.
Grant enjoys Snowboarding, Golfing, Boating, and prefers the warm weather in Atlanta to the freezing temperatures at his home in Minnesota.
Kimberly Schneider is a consultant who has been working on the Streamlined Banking project since October 2006. Her expertise is in Peoplesoft Cash Management and Accounts Payable modules, but she also has experience with General Ledger, Accounts Receivable, Asset Management, Purchasing, and Project Costing.
Kim has been working with PeopleSoft for 8 years and has experience in the private and public sector. She earned a Bachelor of Science degree in Accounting from Bradley University located in Peoria, Illinois.
Kim enjoys traveling (travels from California each week), shopping, working out, and movies.

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Streamlined Banking Newsletter

Upcoming Events! Make your reservation today!
Transition Sessions

The Transition Sessions will disseminate important information to Leadership, Key Users and Production Support concerning the Streamlined Banking Project and the transition activities ahead.

Session

Course Description and Modules

Planned Date

Transition Session # 4:

This session provides an overview January 11, of accounting entries as affected 2007 by Streamlined Banking:

Overview of Accounting Process, General Ledger and Commitment Control





Accounting Flow Allotments and Commitment Control Receipts Disbursements Interagency Settlements and Bilateral Netting Reconciling Agency Deposit

Accounts

Agency Transition Task List

Review

Upcoming Sessions and

Resources

Time 9am - 11am

Location Course #

200 Piedmont Ave, Suite 1816 A&B, West Tower

407FR01

Session #
0004

Transition This session will discuss:

February 8, 9am 11am 200 Piedmont 407FR01

005

Session #5:

2007

Ave, Suite 1816

Ready for Go-Live

Pilot deployment roll-out schedule
Streamlined Banking

A&B, West Tower

Operational Relationships

Getting Ready for Go-live

Streamlined Banking Support

Structure

Agency Readiness

Checkpoint

Task List Review

Transition This session will discuss:

March 8,

9am 11am 200 Piedmont 407FR01

006

Session #6

2007

Ave, Suite 1816

Pre Go-Live Agency Readiness and Task

Session

List Final Review and Check

A&B, West Tower

Point

Reporting

Changes in Security

Tips & Troubleshooting

Go-live Support and

Resources

Have your Agency Training Coordinator sign you up today! If your agency has no training coordinator or the session is full, please email SLBFeedback@sao.ga.gov and someone will register you for the session number listed above. Please be sure to have you employee ID number, phone number, and email address ready.

Streamlined Banking Newsletter
Training Update
Training for Streamlined Banking procedures will be a combination of hands-on classroom training with the User Productivity Kit (UPK) for online training.
All development of the UPK will be completed prior to the Go-live date so that agency personnel will have ample time to access the UPK and study the processes. Look for another announcement soon of when the UPK topics will be available and the end user training schedule.

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Want to be "In the Know"?
"FS Official Communications" are e-mailed on a regular basis to users who have subscribed to the Listserv system. One way to be "in the know" and receive these communications is to sign up for a Listserv!
Put yourself in the "LOOP"! There is no cost to subscribe and it's easy to do! You can also unsubscribe at any time. Please be aware, however, that the more elists (modules) that you sign up for, the more emails you will receive in your inbox. We recommend only signing up for the lists applicable to your job duties.
Listserv is one of the most effective ways for you to obtain information and communications relative to your PeopleSoft system. If you have not already done so, sign up now.
Available lists include: Financials -AP, AR, AM, GL, PC, Labor, Budget, and PO HCM Human Resources, HR Budget, Payroll and CSB's
Visit the SAO Website and click Financial Systems > Related Links > ListServ and subscribe today!

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Streamlined Banking Newsletter

Glossary of Terms

Escheat- A succession of abandoned property to the State. It is commonly associated with properties that come from an estate of a person dying without a will and without any known heirs. However, this concept has been broadened to include the recovery of any property that results from the failure of a person legally entitled to that property to make a valid claim against the holder of the property within a prescribe period of time. Consequently, the terms escheat and unclaimed property are used interchangeably.
Georgia PeopleSoft Financials System (GPFS) - An accounting software application utilized to process transactions.
Stale Date - A reference to the time period after which a check is no longer valid.
Stop Payment Request Form - A form that agencies must complete when requesting a stop payment or void in the GPFS.
Unclaimed Property - Unclaimed property that consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds, and contents of safe deposit boxes that have been abandoned - that is, for which there have been no documented transactions or contact with the owners for a statutory period of time. In most cases, this period of time varies from 1 to 5 years depending upon the property type. There are over 100 types of property which may become unclaimed.

Contact Us! Give Us Your Input!

For more information on the Streamlined Banking Project or comments/ questions about the Project Newsletter, contact the communications team at:
SLBFeedback@sao.ga.gov
Additional information can also be found at the SAO Website by clicking on the Streamlined Banking link:
http://sao.georgia.gov
State Accounting Office Statewide Accounting 200 Piedmont Ave., Suite 1604, West Tower
Atlanta, GA. 30334 - Phone: 404-656-2133 - Fax: 404-463-5089