Samuel K. Collins Jr., Division Director and State Cash Manager
Division Staff
Victor Vigil, General Manager
Dominic Chavez, Financial Analyst
Bill Lewis, Accountant & Auditor
Antoinette G. Romero, Accountant & Auditor
Florence Velarde, Accountant & Auditor
Yolanda Chavira, Accountant & Auditor
Annabel Vigil, Accountant & Auditor
Don Lott, Business Op. Specialist
The primary function of the Cash Management Division is to ensure that cash balances in the custody of the State, which are not otherwise invested or deposited be managed efficiently, prudently and in a manner which minimizes non-income producing balances. Identify and provide pathways for the unimpeded inflow of funds to a central concentration point; to provide controls over the outflow of funds; and the State Cash Manager shall have access to all accounts, files and other records to enable him to perform his cash management duties.
Cash management duties include:
(1) Reconciliation of all bank transactions for depository and disbursement accounts in the Statewide Human Resource, Accounting, and Management Reporting System (SHARE).
(2) obtain from each state agency periodic reports of all money from any source in the agency's custody; detailing information on receipts, disbursements and balances on hand or on deposit in financial institutions.
(3) periodic review of all deposits made and balances on hand to assure that all money received by each agency is deposited in a timely manner in the state fiscal agent bank and, if applicable, to the state’s concentration account in the state treasury.
(4) Issuance of cash management regulations, procedures and enforce policy to assure compliance with the federal Cash Management Improvement Act (CMIA).
(5) Development of state warrant clearance patterns to determine the time between warrant issuance and warrant redemption.
(6) Cash forecasting and the projection of the state’s short and long term cash needs.
(7) Authorize depository bank accounts request for state agencies and report balances in each financial institution to the State Board of Finance.
In addition, the division will coordinate with the fiscal agent bank to provide other banking services to state agencies as needed and enforce requirements for financial institutions holding state funds.
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