Arkansas Administrative Code

19 CAR § 11-203. Eligible investments. (a) Eligible investments are limited to those securities and deposits authorized by Arkansas Code §§ 19-3-518 and 19-8-111. (b) Eligible investments as outlined in the aforementioned statutes may include: (1) Direct obligations of the United…

19 CAR § 11-204. Investment restrictions. (a) To provide for the safety and liquidity of State Treasury funds, the investment portfolio is subject to the following restrictions: (1) The weighted average maturity of the total portfolio shall not exceed ten (10) years; (2) The expe…

19 CAR § 11-205. Collateral. (a) Securities delivered as collateral for a repurchase agreement with a maturity date longer than seven (7) days will be priced at least weekly at one hundred five percent (105%) of market value, plus accrued interest. (b) Physical loans that qualify…

19 CAR § 11-206. Return on investment. (a) Pursuant to Arkansas Code § 19-3-518(d)(4), the State Board of Finance shall establish the method of computing participants’ rate of return and earning to determine the distribution to each participant. (b) The Treasurer of State shall d…

19 CAR § 11-207. Professional services. (a)(1) The Treasurer of State may contract for professional services as necessary for the efficient management of investments. (2) Services may include, but are not limited to: (A) Master custodian; and (B) Money manager. (b) Master custodi…

19 CAR § 11-301. Introduction. (a) The investment of State of Arkansas funds is a function performed by the Treasurer of State under the advice of the State Board of Finance. (b) This policy has been developed in recognition of the fiduciary responsibility of the board and the Tr…

19 CAR § 11-302. Authority and scope. (a) Arkansas Code § 19-3-519(f) directs the Treasurer of State to establish policies to be followed in the investment of money of the state, subject to review and approval by the State Board of Finance. (b) This policy applies to the investme…

19 CAR § 11-303. Objectives. (a)(1) The Treasurer of State seeks to benefit the State of Arkansas by depositing money with institutions located within the borders of Arkansas. (2) The distribution formula may be weighted to give preference to institutions that have consistently i…

19 CAR § 11-304. Guidelines. (a) In keeping with the stated objectives of this subpart, the following guidelines are established. (b) The State Board of Finance may, at its discretion, establish a cap on the amount of the total allocation any one (1) institution may receive. (c) …

19 CAR § 11-305. Allocation process. (a) The following process shall be carried out in the allocation of deposits among participating institutions. (b)(1) Each participating institution may receive a base deposit amount. (2) This amount may be based on a sliding scale to be estab…

19 CAR § 11-306. Professional services. (a)(1) The Treasurer of State may contract for professional services as necessary for the efficient management of investments. (2) Services may include, but are not limited to, that of master custodian. (b) Master custodian. (1) The Treasur…

19 CAR § 11-307. Collateralization. (a) Collateral is required for all deposits above the insured amount. (b) Each institution will enter into an agreement with the State Treasury establishing the collateralization percentage and suitable collateral types pursuant to Arkansas Cod…

19 CAR § 12-101. Purpose. (a)(1) The State Treasury Money Management Trust is a vehicle to be used by state agencies, local governments, and subdivisions for enhancing investment opportunities and earnings of idle cash funds. (2) Cash managers who may have been limited by small a…

19 CAR § 12-102. Objectives. (a) The State Treasury Money Management Trust was designed to afford state agencies and other local governments another investment option for their cash funds. (b) To that end, the trust’s objectives will be: (1) Safety; (2) Liquidity; and (3) Return …

19 CAR § 12-201. Eligibility and enrollment. (a) Eligible enrollees are defined by Arkansas Code § 19-3-603. (b)(1) Once an entity has decided to participate and has authorized an officer to be responsible for State Treasury Money Management Trust transactions, the participant sh…

19 CAR § 12-202. Deposits. (a) Deposits to the State Treasury Money Management Trust must be made electronically, either by wire transfer or ACH. (b) Initial deposits must be a minimum of one thousand dollars ($1,000). (c)(1) A deposit to an existing account may be made in any si…

19 CAR § 12-203. Withdrawals. (a)(1) Participants must notify the State Treasury Money Management Trust managers of withdrawals no later than the close of business on the day prior to the withdrawal by emailing a completed Withdrawal Form. (2) The participant may withdraw funds u…

19 CAR § 12-204. Transfers. (a) Between State Treasury Money Management Trust accounts. (1) If a participant wishes to transfer funds between State Treasury Money Management Trust accounts, the participant should fill out a Transfer Request Form as provided online (example provid…

19 CAR § 12-205. Account closure. (a) Participants must notify the State Treasury of intent to close an account by completing an Account Closure Form and indicating the same. (b) The date for the withdrawal of all available principal should be indicated on the form. (c) Any remai…

19 CAR § 12-206. Interest earnings. (a) The Treasurer of State shall distribute the monthly earnings of the State Treasury Money Management Trust, minus charges and fees, on the second state business day after the twenty-fifth day of the following month. (b)(1) In order to determ…

19 CAR § 12-207. Fees and charges. (a) As per Arkansas Code § 19-3-604(f), the State Treasury may assess charges for: (1) Expenses incurred in managing the State Treasury Money Management Trust; and (2) Other administrative fees. (b) Administration charges. (1) Wire charges will …

19 CAR § 12-208. Monthly statements and year-end reports. (a) The State Treasury Money Management Trust will email a monthly statement to each participant at the email address provided on the Participation Application form or most current update thereto. (b) That statement will s…

19 CAR § 12-209. Miscellaneous information. (a) Electronic correspondence with the State Treasury Money Management Trust should be directed to MMTrust@artreasury.gov. (b) Physical correspondence should be directed to: State Treasury Money Management Trust Treasurer's Office 1401 …

19 CAR § 12-301. Authority. (a) The State Treasury Money Management Trust Act, Arkansas Code § 19-3-601 et seq., directs the State Treasury to: (1) Administer the State Treasury Money Management Trust; and (2) Establish policies and rules to guide daily operations of the trust. (…

19 CAR § 12-302. Scope. This policy applies to funds deposited with the State Treasury Money Management Trust established by the State Treasury Money Management Trust Act, Arkansas Code § 19-3-601 et seq.

19 CAR § 12-303. Eligible investments. (a) Eligible investments are: (1) Authorized pursuant to Arkansas Code § 19-3-604; and (2) Limited to those securities as referenced in Arkansas Code § 19-3-518(b)(1) and § 19-8-111. (b) Eligible investments as outlined in the statutes may i…

19 CAR § 12-304. Investment restrictions. (a) To provide for the safety and liquidity of the State Treasury Money Management Trust, the investment portfolio will be subject to the following restrictions: (1) The average maturity of the total portfolio will not exceed sixty (60) d…

19 CAR § 12-305. Collateral. (a) Securities delivered as collateral for a repurchase agreement with a maturity date longer than seven (7) days will be priced at least weekly at one hundred five percent (105%) of market value, plus accrued interest. (b) Physical loans that qualify…

19 CAR § 12-306. Professional services. (a) The State Treasury may contract for professional services as necessary for the efficient management of investments. (b) Services may include, but are not limited to: (1) Master custodian; and (2) Money manager. (c) Master custodian. (1)…

19 CAR § 25-101. Definitions. As used in this part: (1)(A) “Conflict of interest” means a special state employee’s direct or indirect pecuniary or other interest in a matter before a covered board. (B) “Conflict of interest” includes without limitation the following: (i) An offer…

19 CAR § 25-102. Required disclosure. A special state employee shall disclose a conflict of interest in a procurement matter before the covered board: (1) Either: (A) In writing to the head of the covered board; or (B) Orally or in writing at a public meeting of the covered board…

19 CAR § 25-103. Decision making. (a) A special state employee shall not vote on, receive, or read confidential materials related to, participate in the discussion of, or attempt to influence the covered board’s decision on a procurement matter if the special state employee has a…

19 CAR § 25-104. Complaints. (a) In accordance with Arkansas Code § 7-6-218, a complaint alleging a violation of Arkansas Code § 19-11-718 may be filed with the Arkansas Ethics Commission. (b) The complaint process is the subject of 7 CAR §§ 1-501 et seq. – 1-1001 et seq.…

19 CAR § 25-105. Penalties and removal. (a) If the Arkansas Ethics Commission finds that a special state employee has committed a violation of Arkansas Code § 19-11-718, then it may: (1) Impose a fine of not less than fifty dollars ($50.00) and not more than two thousand dollars …

19 CAR § 35-101. Commission creation and operation. (a) Commission creation. (1) The Arkansas Tobacco Settlement Commission is an agency of state government created by Sections 17 and 18 of the Tobacco Settlement Proceeds Act, which is codified at Arkansas Code § 19-12-101 et seq…

19 CAR § 35-102. Commission membership. (a) Appointed members. (1)(A) Appointed members are the four (4) members of the Arkansas Tobacco Settlement Commission who serve by virtue of being appointed by a political official. (B) These members include a: (i) Healthcare professional …

19 CAR § 35-103. Quorum and voting. (a) Quorum. (1) The presence of five (5) members of the Arkansas Tobacco Settlement Commission, whether appointed or ex officio, shall constitute a quorum for commission business. (2) The presence of at least a majority of the members of a comm…

19 CAR § 35-104. Commission officers. (a) The Arkansas Tobacco Settlement Commission membership shall elect from its body officers to serve in the following capacities and to perform the following duties. (b) The term of service for these officers shall be at least one (1) year. …

19 CAR § 35-105. Commission committees. (a) Standing committees — Executive Committee. (1)(A) The Executive Committee shall be composed of three (3) members of the Arkansas Tobacco Settlement Commission. (B) The Chair of the Arkansas Tobacco Settlement Commission shall serve as c…

19 CAR § 35-106. Commission meetings. (a) Regular quarterly meetings. (1)(A) The Arkansas Tobacco Settlement Commission shall meet at least four (4) times each year as required by the Tobacco Settlement Proceeds Act, Arkansas Code § 19-12-101 et seq. (B) These meetings shall take…

19 CAR § 35-107. Grants. (a) Grant authorization. Section 17(i) of the Tobacco Settlement Proceeds Act states: “If the deposits into the Arkansas Tobacco Settlement Commission Fund exceed the amount necessary to pay the costs and expenses described in subsection (h) of this secti…

19 CAR § 35-108. Rulemaking — Authority. (a) The agency has been authorized by the General Assembly to promulgate rules, Arkansas Code § 19-12-117(e). (b) The agency follows the procedural requirements of the Arkansas Administrative Procedure Act, Arkansas Code § 25-15-201 et seq…

19 CAR § 35-109. Declaratory orders. (a) Purpose and use for declaratory orders. (1) A declaratory order is a means of resolving a controversy or answering questions or doubts concerning the applicability of statutory provisions, rules, or orders over which the agency has authori…

19 CAR § 35-110. Information for public guidance. (a) The Executive Director of the Arkansas Tobacco Settlement Commission shall handle any: (1) Freedom of Information Act of 1967, Arkansas Code § 25-19-101 et seq., requests; and (2) Public or press questions regarding the Arkans…

19 CAR § 50-101. Purpose. The purpose of this part is to: (1) Simplify and clarify the administration of the disbursements from the Development and Enhancement Fund; (2) Provide for increased public confidence in the disbursement of funds used for projects financed from the Devel…

19 CAR § 50-102. Definitions. For purposes of this part, unless otherwise required by the context, the following definitions apply: (1) “Appropriation” means a legislative act authorizing the expenditure of a designated amount of public funds for a specific purpose; (2) “Biennium…

19 CAR § 50-103. Available funds. (a) The Treasurer of State shall first make allocations to the executive discretionary division projects based on the percentage outlined in each biennium’s General Improvement Fund Distribution Act and the remainders of the total available funds…

19 CAR § 50-104. Letter of instruction. (a)(1) Each fund recipient shall provide their address of record, point of contact information, and telephone number to the disbursing officer for the Department of Finance and Administration by August 1 of the first year in each biennium. …

19 CAR § 50-105. Funding process. (a)(1) The disbursing officer for the Department of Finance and Administration shall mail warrants to fund recipients to the addresses of record within twenty (20) working days after the Division of Budgets and Accounting of the Department of Fin…

19 CAR § 50-106. Disbursement controls. (a) Monies may not be disbursed under this part in excess of the State Treasury funds actually available and provided by law. (b) A fund recipient shall have the authority to accept and use grants and donations, including federal funds, and…