Lesson 2: Recurring Transaction Index (RTI)

Benefits of Using the RTI Process

Cost savings — warrant is eliminated

The RTI process allows funds to be transferred without leaving the State Treasury. This gives the state the opportunity to accrue interest that was usually lost during the old ITV process when funds would leave the Treasury through warrants.

Also, not producing a paper warrant saves money!

Balancing transactions — AFR reporting is improved

The RTI creates an audit trail by the Agency General Ledger Accounts (AGLs) that are created for year-end reconciliation. These interagency transactions can be eliminated for Annual Comprehensive Financial Report (ACFR) reporting by the automatically created cross-reference.

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