How will agencies get the information needed to set up their agencies for EFTPS payment through SAO?
SAO will provide the account numbers to the agency and the agency can add a new account to their EFTPS profile. They will continue to use the old profile until they switch to the new SLB account. At that time they can delete the old account number from the profile. It is recommended that if you have an existing ID, you will need to allow a 6 week lead time and if you don’t have an ID at all, you may need a two month lead time. Q: Federal funds are part of all processing, not Revenue recognition. To have automatic recognition of revenue is incorrect, should be recognized when earned. A: Currently when agencies request an allotment in BudgetNet, they specify state, federal and other funds. But from Treasury’s perspective, OTFS is only concerned with state funds and does not move monies related to federal and other funds based on the allotment. Agencies are responsible for collecting and depositing federal and other funds. Under streamlined banking, Treasury is still only concerned with c
