Chapter 4000 Reporting Deposits And Treasury Check Issues For Payment Of Public Debt Redemptions (2024)

This chapter prescribes procedures to be followed by Federal Reserve banks and branches (FRBS) for reporting deposits and Treasury check issues for the redemption and payment of Public Debt redemptions.

The provisions of 12 U.S.C. 391 authorizes the Secretary of the Treasury to use FRBs as depositaries and fiscal agents of the United States. Memorandum No. 144 from the Commissioner of the Public Debt, dated May 20, 1923, authorizes FRBS, on request, to issue Treasury checks in making payments on account of Public Debt redemptions.

Public Debt redemptions that are paid by charging Treasury's General Account, are normally received from commercial banking institutions, but may also be presented directly to the FRB by the holder. When it is not possible to make a payment by crediting a reserve or correspondent bank account, the FRB will pay the obligation by issuing a Treasury check to the holder (payee or financial institution).

When a Treasury check is used to pay an obligation, the FRB charges the amount to Treasury's General Account through the Agency Location Code (ALC) of the Bureau of the Public Debt, Treasury. The resulting credit is made to the FRB's 4 digit Treasury check symbol account by processing an SF 215 "Deposit Ticket." After the credit is made, the FRB will issue a Treasury check in the name of the payee or financial institution under the FRB's 4--digit check symbol.

The following standard forms will be used to report Public Debt redemptions. Samples of these forms are in Appendix No. 1. The forms may be obtained from the Supply and Property Management Branch (II TFM 7 3085).

4040.10 - SF 215 "Deposit Ticket." This form will be used for depositing funds to the Treasury check symbol assigned to the FRB.

4040.20 - SF 1179 "Recapitulation of Block Control Level Totals of Checks Issued." This form will be used to report the check number range :Ind amounts by block totals for all checks issued during the accounting period.

4040.30 - SF 1219 "Statement of Accountability." The deposits and check issues from the Treasury check symbol assigned to the FRB during the accounting period will be reported on this form.

When it is determined that the securities or obligations to be redeem ed are to be paid by Treasury checks, the amount will be charged to the Treasury ALC and will be deposited and confirmed by the FRB to the Treasury check symbol of the FRB by means of an SF 215. The deposits made during the accounting period will be listed at the end of the month by deposit ticket number, confirmed date of deposit, and amount. The listing will be attached to the FRB's SF 1219, in support of the amount of deposit thereon (Appendix No. 1).

Based on the deposits made to the check symbol, and reported on SF 1219, Treasury checks will be issued by the FRB in the name of the payee or financial institution on the same date that the FRB enters in block No. 2 on the SF 215.

4060.10 -General. At the end of the accounting period, SF 1179 will be prepared by listing the check number range and the total amount of the checks issued under each check block. To support each block control level total on SF 1179, the FRB will attach either a copy of each check issued, accompanied by an adding machine tape, or a listing of the checks issued in check number sequence and displaying the check symbol, serial number, and amount of each check issued (Appendix No. 1). The adding machine tape or listing must be subtotaled to differentiate between check blocks and should show the grand total of all of the blocks. The total amount of the checks issued during the accounting period must agree with the amount of checks issued as reported on the SF 1219.

For check accounting purposes, Treasury checks prepared, or in the course of being prepared, that are not to be issued will be mark ed prominently and will be processed under the following classifications.

4060.20 - Voided Checks. A voided check is a check which will not be released to the payee, will not be reissued, and will not be reported to Treasury, as a check issued. A check that is voided should be rendered nonnegotiable by placing the legend "VOID -NOT NEGOTIABLE, NO CHECK ISSUED UNDER THIS NUMBER" on the face of the check in prominent size to avoid unauthorized negotiation. A listing of all void checks by check symbol and in check number sequence, will be prepared and attached to an SF 1179 for the accounting month (Appendix No. 1 ). All voided checks must be sent to Treasury with an SF 1179.

4060.30 -Spoiled Checks. A spoiled check is one that must be rewritten because it was (1) mutilated or spoiled in preparation or (2) incorrectly prepared and has not been reported to Treasury as a check issued. A check that is spoiled should be rendered nonnegotiable by placing the legend "SPOILED -NOT NEGOTIABLE, REPLACEMENT ISSUED UNDER CHECK NUMBER________________" on the face of the spoiled check to prevent the possibility of unauthorized negotiation. The legend must be placed on the checks with a printing device or rubber stamp using quick drying indelible ink and producing characters no smaller than 1/8 of an inch. A listing of all spoiled checks replaced by other serially numbered checks will be prepared and attached, to the SF 1179 for the accounting month. The listing will contain the check symbol and will be accompanied with the spoiled checks arranged in check number sequence (Appendix No. 1). All spoiled checks must also be sent to the Check Records Section with an SF 1179. Replacement checks will be issued by FRBs as described in the next paragraph.

When a spoiled check is to be replaced, the FRB will replace it by using the next available original, serially numbered check. The replacement check will be the current date of issue. The serial number of the new check will not be changed or altered in any way and the check number appearing on the replacement check will be recorded in the space provided in the legend placed on the spoiled check. The lower left-hand corner of the face of the replacement check, will be used to denote the information "ISSUED TO REPLACE CHECK NO.___________________."

4060.40 -Canceled Checks to be Reissued. The term "canceled check" is used for a check rendered nonnegotiable after it has been reported as an issued check on SF's 1179 and 1219 for a previous month. The check will be rendered nonnegotiable by placing the legend "CANCELED NOT NEGOTIABLE, FOR CREDIT TO 4-DIGIT TREASURY CHECK SYMBOL _______________, MAINTAINED BY FRB, ______(city)______ "on the face of the check. No endorsem*nt on the back of the check is necessary. The canceled check will be deposited by using an SF 215 for credit to the Treasury check symbol maintained by the FRB prior to reissue. If the check is to be reissued, the deposit ticket and the reissued check should be shown on the same month's SF 1219.

4060.50 -Checks Issued Erroneously. There have been occasions when the FRB erroneously issued a Treasury check for redemption of securities other than U.S. Government obligations, for example, Federal National Mortgage Association security, Federal Intermediate Credit Bank security, etc.

When a Treasury check has been issued and cashed for an obligation other than an obligation payable by the U.S. Treasury, the following steps should be taken by the FRB:

(a) The FRB will obtain a refund of the amount of the Treasury check from the entity responsible for the payment of the security.

(b) This amount will be deposited on a Treasury credit or deposit document to the Treasury ALC that had been previously charged when the amount was deposited to the 4 digit Treasury check symbol maintained by the FRB.

If the error is discovered before the payee cashes the check, the check should be canceled and the funds deposited to the Treasury ALC that was originally charged.

Each FRB must prepare and submit an SF 1219 to Treasury regardless of whether there was any deposit or check issue activity during the accounting period. The accounting period covered by the SF 1219 is the first day through the last day of each calendar month.

Normally, the deposits made for payment of U.S. Government obligations will be made on the same day that the Treasury check is issued by the FRB. At the end of the month, the amount of the SF 215's prepared and the amount of related checks issued will be reported on an SF 1219 (Appendix No. 1).

When the total amount of deposits prepared equals the amount of the checks issued within the same accounting period, the accountability at the end of the month reported on the SF 1219 will be zero. Any difference between the deposits and checks issued at the end of the month will create either an increase or a decrease in the accountability. Differences that occur should equal the Treasury checks issued that were not dated until the following month.

SF's 1219 and 1179 and supporting listings should be sent to BGFO as soon as possible after the close of the accounting month. Individual FRBs will be notified if changes in mailing practices are necessity (because the current practice results in untimely submissions). All documents should reach Treasury by the required due dates.

The SF 1219 and supporting documents (Appendix No. 1) are due on or before the 8th working day and should be mailed to:

Government Reports Branch
Division of Government Accounts and Reports
Bureau of Government Financial Operations
Department of the Treasury
Treasury Annex No. 1
Attn: GAO Building, Room 1415

Mail SF 1179 and supporting listings (Appendix No. 1) on or before the 10th of the month to:

Check Records Section
Reconciliation Branch
Division of Government Accounts and Reports
Bureau of Government Financial Operations

Section 4085 -PROCUREMENT OF FORMS

All forms referenced in this chapter may be obtained from:

Supply and Property Management Branch
Division of Facilities Management
Bureau of Government Financial Operations
Department of the Treasury

202 566 7492

Inquiries concerning this chapter should be directed to:

Division of Government Accounts and Reports
Bureau of Government Financial Operations
Department of the Treasury

202-566 6551
or
FTS 566 6551

FORM TITLE

SF 215 Deposit Ticket

SF 1179 Recapitulation or Block Control Level Totals of Checks Issued

Unnumbered Listing of Treasury Checks Issued

Unnumbered Listing of Void and Spoiled Treasury Checks

SF 1219 Statement of Accountability

Explanation of Items to be Reported on SF 1219 "Statement of Accountability"

Unnumbered Listing of Deposits

[GRAPHIC]
SF 215

ORIGINAL

Submit to support receipts on TFS Form 17 "Transcript of the General Account of the U s. Treasury" for the date on which the deposit was confirmed.

MEMORANDUM COPY

May be retained for FRB use or destroyed. DO NOT SUBMIT MEMORANDUM COPIES TO TREASURY.

DEPOSITARY COPY

Retain for support of bank's copy of TFS Form 17.

AGENCY COPY AND CONFIRMED COPY

Retained by depositor.

[GRAPHIC]
SF 1179 II TFM 7 4040.20

[GRAPHIC]
Listing of Treasury Checks Issued II TFM 7 4060.10

May be either machine generated or manually prepared.

[GRAPHIC]
Listing of Void and Spoiled Treasury Checks

[GRAPHIC]
SF1219 (front & back) II TFM 7 4040.30, 7-4070

"STATEMENT OF ACCOUNTABILITY"

HEADING AND CERTIFICATION

Each SF 1219 must be completed reflecting the name of the Disbursing Office, mailing address, name of the FRB, Office Number (Treasury Check Symbol) and the period of account covered. The form must be dated and signed by the Disbursing Officer or a duly authorized officer of the FRB. The Disbursing Officer's title must also be indicated in the block so designated.

SECTION I -TRANSACTIONS DURING PERIOD AFFECTING ACCOUNTABILITY

LINE

1.0 TOTAL ACCOUNTABILITY- BEGINNING OF PERIOD. Report on this line the balance of accountability at the close of the previous accounting period. The balance must be the same figure reported as the closing balance on line 5.0 of the SF 1219 for t he prior accounting period.

2.1 CHECKS ISSUED ON TREASURER, U.S. Report on this line the total amount of checks drawn on the U.S. Treasury issued for the accounting period including all adjustments of check issue amounts reported in prior periods. An analysis of this total amount, by check symbol, will be shown in Section II, Part A, on the reverse side of the statement.

2.9 TOTAL INCREASES IN ACCOUNTABILITY. The a mount on this line will be the same amount as on line 2.1

3.0 SUBTOTAL.Report on this line the sum of the accountability at the beginning of the period and the increase in accountability during the reporting period, line 1.0 plus line 2.9.

4.2 CONFIRMED DEPOSITS WITH U.S. TREASURER. The net total of confirmed deposits will be reported on this line. A summary by deposit symbol and confirmed month will bc shown in Section 11, Part B, on the reverse side of the statement.

SECTION 1, PART A -TRANSACTIONS DURING PERIOD AFFECTING ACCOUNTABILITY

LINE

4.9 TOTAL DECREASES IN ACCOUNTABILITY. The amount on this line will bc the same as on line 4.2.

5.0 TOTAL ACCOUNTABILITY -CLOSE OF PERIOD. The total to be reported on this line will be the difference between the amounts reported on line 3.0 and line 4.9. Any difference will be analyzed in Section 1, Part B and C. The amount on line 5.0 will be shown as the total accountability at the beginning of the following accounting period on line 1.0. Normally this amount is zero.

SECTION 1, PART B -ANALYSIS OF INCUMBENT OFFICER'S ACCOUNTABILITY

6.4 CASH -UNCONFIRMED DEPOSITS. Report on this line the amount of unconfirmed deposits applicable to this accounting period or the amount of Treasury checks that are applicable to this period but will be dated in the following month. This amount should equal the amount reported on line 5.0.

8.0 TOTAL OF MY ACCOUNTABILITY. The amount on this line should be the same as on line 6.4.

11.0 TOTAL DISBURSING OFFICE ACCOUNTABILITY. Report on this line the same amount as on line 8.0.

SECTION 11 -SUMMARY BY SYMBOL OF CHECK AND DEPOSIT TRANSACTIONS WITH U.S. TREASURER

PART A -CHECKS ISSUED AND ADJUSTMENTS FOR PRIOR PERIODS.

COLUMN

1 CHECK SYMBOL. Report in this column the check number under which the checks were issued or to which the check issue adjustment transactions apply.

2 AMOUNT OF CHECKS ISSUED THIS PERIOD. Report the amount of checks dated the same month as the accounting period. This amount must agree with the amount reported on the related SF 1179, line 1.

SECTION 11, PART A -CHECKS ISSUED AND ADJUSTMENTS FOR PRIOR PERIODS

COLUMN

3 & 4 ADJUSTMENTS FOR PRIOR MONTHS' ISSUES

3. BY FORMS TFS 5206. Report the net total of the TFS Forms 5206 received from Treasury and entered for the current accounting period. The total must agree with the amount reported on line 2(a) of the SF 1179.

4. OTHER. Report the issue month and year and the net total of adjustments initiated by the disbursing officer to correct prior month check issue totals. The total must agree with the amount reported on line 2(b) of SF 1179.

5. TOTAL CHECKS ISSUED. Report in this column the net total of the amounts in columns 2, 3, and 4. This total is reported on line 2.1 of Section 1, Part A.

SECTION 11, PART B -SUMMARY OF DEPOSITS CONFIRMED

COLUMN

1 DEPOSIT SYMBOL. Report in this column the check symbol used by the disbursing officer.

2 DEPOSITS CONFIRMED THIS MONTH. -Report in this column the amount of deposit tickets confirmed during the accounting period. The amount is supported by a listing of deposits by ticket number, confirmed date of deposit, and amount. This listing is attached to the SF 1219. Memorandum copies of SF 215 may be retained for FRB use or destroyed. DO NOT SUBMIT MEMORANDUM COPIES TO TREASURY.

3&4 DEPOSITS CONFIRMED IN PRIOR MONTHS BUT RECORDED IN ACCOUNTS THIS MONTH. Enter in column 3 the prior confirmed month and year of any deposit ticket with the amount in column 4. These deposits were confirmed in a prior month.

5 TOTAL DEPOSITS CONFIRMED. Report in this column the net total of amounts shown in columns 2 and 4. The total of column 5 is the amount reported in line 4.2 of Section 1, Part A of this statement.

Federal Reserve Bank
Washington, D.C.
Symbol 4818

Ticket No. Confirmed Date Amount

332836 1-03-78 2,198.71
332837 1-04-78 3,294.00
332838 1-05-78 1,500.00
332839 1-06-78 1,500.00
332840 1-09-78 2,068.00
332841 1-10-78 3,668.73
332842 1-11-78 2,000.00
332843 1-12-78 736.00
332844 1-13-78 2,000.00
332845 1-16-78 246.00
332846 1-17-78 3,500.00
332847 1-18-78 17,000.00
332848 1-19-78 1 1000.00
332849 1-20-78 3,000.00
332850 1-23-78 2,500.00
332851 1-24-78 6,000.00
332852 1-25-78 6,000.00
332853 1-26-78 4,000.00
332854 1-27-78 18 ,000.00
332855 1-30-78 2,000.00
332856 1-31-78 3,000.00

85,211.44