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Financial Operations 

The Financial Operations Division (FOD) is charged with properly accounting for and reporting on all funds that are deposited, invested, and disbursed through the State Treasurer. The Division also performs the State Treasurer's role of serving as the State's Banker, and to ensure that efficient banking services are provided to all State agencies and institutions. 


The Financial Operations Division is comprised of four sections:

Banking Operations

All revenues collected by a State entity on behalf of the State must be deposited with the State Treasurer. The Banking Operations Section maintains correspondent depository relationships with various North Carolina banks and savings institutions in order for those entities to have a convenient location to make their deposits.

Relationships are maintained with the six major banking institutions that have a statewide branch network (Wells Fargo, Bank of America, PNC, First Citizens, BB&T and SunTrust), as well as more than 90 community banks across the state.

The Banking Operations Section also performs the accounting and monitoring process for the Collateralization of Public Deposits program, which provides for the securing of funds deposited by the State and local units of government with financial institutions over and above what is provided by the FDIC.

Bank Reconciliation Unit 
 
The Bank Reconciliation Unit reports directly to the Director of the Financial Operations Division for internal control purposes. The Bank Reconciliation Unit is responsible for reconciling all of the State Treasurer’s bank accounts.

Statewide Accounting Operations
 

This section manages the accounting for the State Treasurer’s investment pool and banking programs. It also maintains the general ledgers for the Pension fund, employee benefit trust funds and the Escheats Fund, also known as the Unclaimed Property Fund, administered by the State Treasurer.

The accounts for the outstanding General Obligation and Special Indebtedness of the State are maintained by the Statewide Accounting Operations section. Functions include the recording of new debt and the timely payment of principal and interest for the State’s debt. 

The section is also responsible for the financial statement audit of the NC Supplemental Retirement Income Plan and the North Carolina Public Employee Deferred Compensation Plan.

Departmental Accounting

The Departmental Accounting section manages all fiscal duties that relate to the administration of the programs of the Department of State Treasurer. These duties include developing and monitoring the operating budget for the Department, preparing payroll for more than 400 employees and contractors, managing accounts payable, and enforcing centralized purchasing. 

 

 Banking Services Handbook

 
 

 Helpful Resources

 
 

 Contact Us

 

​Main Telephone
(919) 508-5184

Core Banking System Helpdesk
(919) 508-5914
CBS.help@nctreasurer.com

Check Verification
(919) 508-5976