Deposit of Funds Held in Suspense

Overview

Applicable to

State agencies

Policy

Texas Government Code, Section 403.035, establishes a suspense account in the State Treasury. Funds deposited into this account include money and securities deposited with the Comptroller pending a determination of whether the deposits are for a state purpose.

State agencies must use Fund 0900 – Departmental Suspense when depositing funds where final disposition has not been determined at the time of the receipt of funds.

Legal citation

Government Code, Sections 403.035 and 404.094

Procedure

Funds received by a state agency are required to be deposited in the Treasury no later than the third business day after the date of receipt.

• If the agency is unable to determine the correct disposition of the funds, the suspense fund (Fund 0900 – Departmental Suspense) is used as a clearing account until the funds can be identified.
• If funds were deposited in error, the agency should issue a refund of revenue using T-code 229 (Refund of Revenue – Funds Held for Others).

Depositing Funds into Suspense

The funds can be deposited into suspense using Document Types D or J or system generated F or L.

Movement of Funds from Suspense to Final Disposition

To clear the suspense fund, use Document Type J.

Issuing Refunds from Suspense Fund

Issuing Refunds from Suspense Fund – Summary Payee Vendor ID