SOPP# 710: Drawdown of Federal Funds for Vendor Payments Department of Finance



SOPP # 710 (Treasury)



Prepared By: Treasury Division



Effective Date: 2/27/09



Approved By: Commissioner of Finance



Title



Drawdown of Federal Funds for Vendor Payments (Non-

Reimbursable Programs)



Purpose



Establish a streamlined approach to enhance and maximize the cash

management of federal funds that support vendor payments, in

accordance with the Cash Management Improvement Act (CMIA) of

1990.



Policies



“* Agencies and departments are strictly prohibited from the

drawdown of federal funds prior to check issuance unless

authorized by their grant.



“* Agencies and departments must proactively perform an inquiry

within the ERP to determine the date of check issuance and the

subsequent drawdown daie for a grant.



«* Vendor check payments that are supported by federal funds will

not be released or disbursed from the Department of Finance,

Treasury Division until proper supporting evidence of a request

for a drawdown is received via the “Drawdown Report’, which

includes the Bank Deposit or Settlement Date, Amount, Pin # ,

Drawdown Confirmation #, and Dept ID#.



“* Department and agencies must submit all supporting evidence



for federal fund drawdown’s in the following order of preference:

A. Email (as a “PDF” document): fiddrequest @dof.gov.vi

B. Fax: 774-7671

C. In-person: DOF, Treasury Division



Drawdown of federal funds must be properly recorded within the



ERP using the “Miscellaneous Cash Receipts” entry prior to



release of any vendor payment.



A separate batch, utilizing the appropriate bank code in the ERP



for federal funds, must always be employed.



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Responsibilities



Y¥ Departments and Agencies are responsible for:



o Drawdown of federal funds in a timely manner,



o Proactively inquiring within the ERP to determine when a

check has been issued for a properly approved invoice

payment,



o Properly recording federal funds within the ERP,



o Submitting a “Drawdown Report’ to the Department of

Finance, Treasury Division



o Verifying via email correspondence to

fiddrequest @ dof.gov.vi the date of deposit



v¥ The Department of Finance, Treasury Division is responsible for:



o Releasing vendor check payments in a timely manner

once all supporting documentation is received



o Posting all federal funds transactions recorded by

departments and agencies in a timely manner



SOPP# 710: Drawdown of Federal Funds for Vendor Payments Page 1 of 3

SOPP# 710: Drawdown of Federal Funds for Vendor Payments



Department of Finance



Procedure “+ Under the “GVI_ Department Accounts Payable” menu item



and upon completion of entering the invoice(s) within AP Invoice

Eniry the following steps should be performed:



1. Record the batch number associated with the invoices

submitted to the Department of Finance for approval,



2. Select within AP Invoice Entry,

3. Print the batch for ease of researching the status of payment,



“* Under the “GVi_ Department Accounts Payable” menu item,



should be performed:



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fiddrequest @ dof.gov.vi



release,



navigate to Vendor Invoice List after all intra-agency/intra-

departmental approvals have been completed the following steps



4. Using the printed batch from “Step 3” above, search the

payment status of the invoice by Document Number (or any

other criteria deemed appropriate),



5. If no data is found for the Document Number, the invoice has

not yet been submitted for a check run or has been rejected

by the Department of Finance,



6. If a data record is found, “Browse” the record and make a

notation of the check number and status (i.e., “PD” = Paid),



To the extent possible, invoices that have a valid check number

should be grouped together as a single drawdown transaction.

Once this is accomplished the following steps should be followed:



7. Drawdown funds that encompass the grouped invoices,



8. Within 24 hours of drawdown, print the “Drawdown Report”

and simultaneously record transaction within the ERP using

the “Miscellaneous Cash Receipts”,



9. Email the “Drawdown Report” as a “PDF” document to



and within the correspondence,



indicate the checks that are linked to drawdown which require



10. Contact Treasury Division at 774-4750 Ext. 2280 to ensure

that the checks have been released.



SOPP# 710: Drawdown of Federal Funds for Vendor Payments



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SOPP# 710: Drawdown of Federal Funds for Vendor Payments



Department of Finance



Revision History



Revision #



Date



Description of changes



Requested By



0



1/24/2009



Initial Release



VC



1



VC, SK, LJ, JL,



1/30/2009



Update to initial release



CM



2



2/27/2009



Final revisions



VC & JL



SOPP# 710: Drawdown of Federal Funds for Vendor Payments



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