Close
Contact
logo
Contact
string(6) "policy"

Policy 6006: Depositories

  • Business and Finance
  • Adopted On: July 31,2025

Purpose

To provide direction on lawful bank accounts and security requirements for those banks.

Definitions

None

Policy

1. Local Depository Accounts

1.1. Record of Local Accounts
NSWERS shall maintain a record of the locations of the depository accounts, the purpose of the accounts, and the authority for withdrawals shall be reported to the Executive Council prior to the start of each fiscal year. Authorization to access or withdraw from NSWERS depository accounts does not, by itself, confer authority to approve expenditures or disbursements, which shall be governed by Policies 6002, 6400, and 6401. Any changes to the information shall be reported to the Executive Council throughout the year.

1.2. Authorized Accounts
All cash receipts shall be deposited in banks to the credit of NSWERS. No deposits can be held or placed in an account in any other name.

Forms/Appendices

None

Legal Reference

Based on NSCS Policy 6006

Legal Reference:
Neb. Rev. Stat. 77-2301 State funds; deposit of funds; conditions
Neb. Rev. Stat. 77-2302 Federal Deposit Insurance Corporation references; how construed
Neb. Rev. Stat. 77-2303 State funds; depositories; bond required; approval; conditions
Neb. Rev. Stat. 77-2304 State funds; depositories; form of bond
Neb. Rev. Stat. 77-2305 State funds; depositories; limitations on amount deposited in any one bank
Neb. Rev. Stat. 77-2306 State funds; depositories; security in lieu of bonds
Neb. Rev. Stat. 77-2386 – 77-23,106 Public Funds Deposit Security Act

Revised

April 29, 2026

Search

All Policies
Business and Finance