Nevada Revised Statutes 356.011 – Requirements for account of state agency in bank, credit union, savings and loan association or savings bank
1. A state agency which opens an account in a bank, credit union, savings and loan association or savings bank must first obtain the approval of the State Board of Finance, except in cases where the account is specifically authorized by statute.
Terms Used In Nevada Revised Statutes 356.011
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Statute: A law passed by a legislature.
2. The titles of the accounts must indicate that the account is in the name of the State of Nevada.
3. The State Treasurer shall keep a list of all state accounts in banks, credit unions, savings and loan associations or savings banks, whether they are maintained within or outside the State. The list must contain:
(a) The names of those financial institutions with which state agencies have accounts, and the names of those agencies.
(b) The names of those state agencies which have accounts with banks, credit unions, savings and loan associations and savings banks, and the names of those financial institutions.
4. Each state agency shall send to the State Controller at the end of each fiscal year a copy of the statement of account for each account it maintains with a bank, credit union, savings and loan association or savings bank, and other related documents which reconcile the account to the agency’s books.