Imagine hitting a few buttons and all of your deposits and payments are made all within a few minutes. Case closed. The project checked off your to-do list. Electronic banking is a safe and efficient way for your office to do business with the State Treasurer's office. In fact, during the last fiscal year 70 percent of the $17 billion distributed by the State Treasurer's office was sent electronically. Seventy-three percent of the $17 billion was received via electronic payment.
Here are some reasons why your municipality should consider using electronic banking:
- It is much cheaper to process an electronic payment through the banking system compared to a check or warrant.
- It is faster - cities, counties and vendors, who receive payments electronically, receive their payment faster because there is no mail time.
- It saves you time - staff will not need to make a deposit or make a trip to the bank. The money is automatically deposited into the account you specify. The distributions from the State Treasurer's office can go to an account different than other state payments.
- Electronic payments are more secure. Checks and warrants can be lost, stolen, forged or credited to the wrong account. Electronic payments are deposited directly into your account.
- It saves taxpayers money. By reducing the number of checks or warrants written, we save more money. Reducing the number of checks or warrants translates into a less expensive government. That helps everyone.
There are many opportunities for different levels of government to help each other save time and money: state distributing funds to a county may further distribute to a city or a township; or when counties collect funds that must then be sent to the state. If processed electronically, each of these transactions could save you time and money.
The State Treasurer's office can accept electronically, all payments normally made to the office by check such as district court fees, municipal fees, and bond payments. The office can provide the necessary banking information to you or your local financial institution.
The office is ready help in any way possible. If you would like to receive your distributions from the State Treasurer's office electronically, please complete the "Authorization for Electronic Deposit" form. It is available on the Treasurer's website, www.KansasStateTreasurer.com, by clicking on "Services" and scrolling down to Cash Distributions to Municipalities.
Fill out the form and send it to Lucinda Anstaett with the Kansas State Treasurer's office at 900 SW Jackson St., Topeka, KS 66612-1235, or fax it to her at (785) 296-7950. Call Lucinda if you have any questions or concerns. She may be reached at (785)296-4151 or lucinda@treasurer.state.ks.us.
