On or before April 1st of each year, the Online Services Sole Custody Reporting Application, (https://www.osc.state.ny.us/online-services), for reporting agency sole custody account balances will be available for agencies to use to report reconciled bank account information needed for the State’s annual financial statements. Agencies are reminded that all bank accounts under their administrative control must be reconciled at least monthly. Compliance with this requirement contributes immeasurably to accurate, complete and timely filing of required sole custody bank account information. For more information about sole custody reporting, please contact [email protected].

In addition, agencies are reminded that bank statement balances must be obtained and reconciled and the reconciled bank account balance(s) must be provided to the Commissioner of Taxation and Finance within 7 days of the succeeding month. Refer to Chapter XIV, Section 4.A - Agency Bank Accounts for complete information about agency bank accounts, reconciliations and reporting requirements.

Guide to Financial Operations

REV. 12/01/2021