11113000 Cash in Bank - Interest Bearing Accounts

This account includes the following types of accounts:                                                                                    

• Cash in Bank - Interest Bearing Checking Accounts                                                                                    
  This account is to be used when an agency has a regular interest bearing checking account at a financial institution.
• Cash in Bank - Savings Accounts                                                                                    
  This account is to be used when an agency has a savings account at a financial institution. Savings accounts are time deposits. Generally, passbook savings accounts are regarded as readily available funds even though banks are authorized to require up to 30 days notice of withdrawal.
• Cash in Bank - Negotiable Order of Withdrawal Accounts (NOW Accounts)                                                                                    
  This account is to be used when an agency or university has a NOW account at a bank or saving and loan institution. NOW accounts are time deposits. NOW accounts are, in effect, interest-bearing checking accounts.
• Cash in Bank - Money Market Accounts                                                                                    
  This account is to be used when an agency has a Money Market Account at a financial institution. Money Market Accounts are time deposits. Money Market accounts usually require a minimum of $1,000 and only three checks may be drawn per month, although unlimited transfers may be carried out at an automatic teller machine. The funds are considered liquid--that is, they are available to depositors at any time without penalty. These accounts are insured by the Federal Deposit Insurance Corp.