Current through Register Vol. XLI, No. 50, December 13, 2024
Section 148-8-3 - Bank Confirmation3.1. Form. The Department of Administration will issue a bank confirmation form for reporting assets of the State of West Virginia semi-annually, as of June 30 and December 31 each year. The bank confirmation will be consistent with the form endorsed by the AICPA for use by external auditors and may contain such additional information determined necessary by the Secretary, including, but not limited to, the identification of and the asset value of all accounts opened or closed during the reporting period.3.2. Completion. Instructions for completion of the bank confirmation will accompany the form when issued by the Department. Each financial institution will complete the bank confirmations in their entirety, providing such complete and accurate information as is reasonably possible and utilizing research sufficient to ensure that all assets of the State of West Virginia held by that financial institution are reported. Each bank confirmation must be signed by the trustee or supervisor of the asset or other authorized signatory of the financial institution.3.3. Submission. The financial institution will submit the bank confirmation to the Department within the time frame specified by the Department, and will send copies of the bank confirmation to the State Treasurer, to the Board of Investments and to the Legislative Auditor.