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Arkansas Code Title 14. Local Government § 14-24-121. Electronic funds transfer system

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) A disbursement of county funds used for a payment to a federal or state governmental entity may be made by electronic funds transfer if the:

(1) Claim has been submitted and approved through the county claim process; and

(2) Disbursement includes adequate supporting documentation.

(b) A disbursement of county funds used for a payment not provided under subsection (a) of this section may be made by electronic funds transfer if the quorum court of the county establishes by ordinance an electronic funds transfer system directly into payees' accounts in financial institutions in payment of any account allowed against the county.

(c)(1) For purposes of this section, counties opting for the electronic funds transfer system shall establish written policies and procedures to ensure the electronic funds transfer system provides for internal accounting controls and documentation for audit and accounting purposes.

(2) The electronic funds transfer system under this section shall comply with the information systems best practices approved by the Legislative Joint Auditing Committee before implementation by the county.

(d) A single electronic funds transfer may contain payments to multiple payees, appropriations, characters, and funds.

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Cite this article: FindLaw.com - Arkansas Code Title 14. Local Government § 14-24-121. Electronic funds transfer system - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-14-local-government/ar-code-sect-14-24-121/

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