16.401 Treasury management.
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/wi/chapter-16/16-401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
16.401 Treasury management. The department shall:
(1)Have custody of moneys. Receive and have charge of all moneys paid into the treasury and any other moneys received by officers and employees of state agencies, and pay out the moneys as directed by law, except as provided in ss. 16.52
(7), 20.907
(b), 20.920 , and 20.929 .
(2)Issue receipts. Issue receipts for all money paid to the department.
(3)Pay claims as presented. Pay all claims authorized to be paid out of the treasury in the order in which they are presented, giving a preference to no one.
(4)Pay on warrants sums authorized by law.
(a)Pay out of the treasury, on demand, upon the warrants of the department, except as provided in s. 20.929 , such sums only as are authorized by law to be so paid, if there are appropriate funds therein to pay the same, and, when any sum is required to be paid out of a particular fund, pay it out of such fund only; and upon each such warrant, when payment is made in currency, take the receipt endorsed on or annexed thereto, of the payee therein named or an authorized agent or assignee. The secretary shall accept telephone advice believed by him or her to be genuine from any public depository, as defined in s. 34.01
(5), stating that a specified amount of money has been deposited with such public depository for the credit of the state, and shall act upon such telephone advice as though it had been in writing.
(b)When in the judgment of the secretary balances in state public depository accounts are temporarily in excess of that required under par.
(a), the secretary may transfer the excess balance to the investment fund for the purpose of investment only. The earnings attributable to the investment of temporary excess balances shall be distributed as provided in sub.
(14).
(5)Account for interest. Pay into the treasury and account for all sums directly or indirectly received by the secretary by virtue of the secretary’s office, or as interest or compensation for the use, deposit, or forbearance of any state moneys in the secretary’s hands or under the secretary’s control.
(6)Keep cash and fund accounts. Keep records showing the number, date, and amount of each cash receipt issued by the department and classify said receipts by state funds; submit a summary statement of collections by fund together with a copy of each remittance advice in support thereof; keep also records showing the check, share draft, or other draft number, date, payee, and amount of each cash disbursement and classify said disbursements by state funds; keep a record of the date, payee, and amount of each disbursement made by a money transfer technique other than a check or draft and classify the disbursement by state fund; and verify at the end of each week the amounts shown by the secretary’s records to represent total cash balance and cash balances of individual state funds by comparing said amounts with corresponding balances appearing on records maintained by the department.