U.S. Geological Survey Manual

1. Purpose. This Chapter provides special instructions for the preparation of SF 215, Deposit Ticket, and the transmittal of checks payable only at foreign banks. (See SM 338.1 for general instructions on collections and deposits.)

2. Policy. Payments to the U.S. Geological Survey (USGS) are sometimes drawn on foreign banks and branches of U.S. banks (hereafter, foreign checks), whether drawn payable in U.S. dollars or in a foreign currency. These checks are to be received, deposited and accounted for in accordance with procedures established by the Treasury. When possible, payments should be required to be drawn on U.S. financial institutions located in the U.S.

3. Responsibilities.

A. The Office of Financial Management is responsible for assuring that the collection, deposit, and accounting of checks drawn on foreign banks are in accordance with the Treasury guidelines and that those procedures are adhered to throughout the USGS.

B. Heads of Sales Activities are responsible for assuring that checks drawn on foreign banks are collected, deposited, and accounted for in accordance with appropriate procedures.

C. Collection Officers are responsible for transmitting each foreign check accompanied by an original SF 215 to the proper place of deposit (see SM 338.8.4 below).

4. Place of Deposit. Deposits of foreign checks will be forwarded to the Mellon Bank at the following address:

Mellon Bank

US Treasury Foreign

Collections Operations

PO Box 371782 M

Pittsburgh, PA 15251

5. Deposit Procedures.

A. Minimum Foreign Check Amounts Accepted. The minimum U.S. dollar amount or foreign currency equivalent of each check that will be accepted for deposit by Mellon Bank is $4 (U.S. currency) for Canadian bank checks and $15 (U.S. currency) for other foreign bank checks.

B. Checks Drawn on Foreign Banks Payable in United States Dollars. A single SF 215 will accompany all U.S. dollar foreign checks forwarded to the depositary on a single day. The SF 215 will be completed as prescribed in SM 338.1.6, including the ins rtion of the U.S. dollar amount. Upon receipt at the Mellon Bank, the SF 215 will be dated, and the Confirmed Copy returned to the depositing officer immediately. A considerable period of time, frequently a number of weeks, is required to collect the proceeds of many checks of this type. Therefore, notwithstanding the fact that the entire amount of the SF 215 has been credited in the Treasury's General Account (TGA) upon receipt, agencies should be aware that they may receive an SF 5515, Debit Voucher, in connection with uncollectible checks or collection charges on these items, some considerable period of time after the deposit was confirmed.

EXCEPTION: Checks drawn on foreign banks in U.S. dollars, which are payable through a bank in the U.S. and Magnetic Ink Character Recognition (MICR) encoded with the U.S. banks ABA routing symbol at the foot on the left side of the check will not be deposited with the Mellon Bank. These checks will be included with the depositor's regular deposits made to a local depositary or Federal Reserve Bank (see SM 338.1.1).

C. Checks Drawn on Foreign Banks Payable in Foreign Currency. A separate SF 215 will accompany each foreign currency foreign check forwarded to the depositary. The SF 215 will be completed as prescribed in SM 338.1.6, except the amount will be left blank. Upon collection of the item, the Mellon Bank will enter the U.S. dollar value on the corresponding SF 215 and return the dated Confirmed Copy to the depositing officer.

6. Uncollected Checks and Collection Charges. The amounts of checks returned as uncollectible, exchange fees, or any other collection charges incident to the collection of these foreign items, will be charged back to the USGS through Mellon Bank's execution of an SF 5515, Debit Voucher.

7. Records Maintenance. A description of each check must be maintained to permit duplication if any check becomes lost, destroyed, or mutilated. Such a record will include for each check, the amount; name and address of the drawer; name and address of the bank on which the check is drawn; date drawn; name of the person from whom received (if other than the drawer); and number (if cashier's check or similar item). Adequate records are to be maintained in order to provide identification through an audit trail.

8. Foreign Currencies. USGS will transmit foreign currency by letter to the Chief, Paying and Receiving Division, Cash Department, Federal Reserve Bank of New York, 33 Liberty Street, New York, NY 10045, accompanied by certificates of deposit. Only one type of foreign currency may be included in the same certificate.

A. The letter will contain (1) specific instructions to sell the enclosed currency and credit the dollar proceeds in the TGA, and (2) a description of each currency including name of the foreign country, medium of exchange, and foreign currency amount.

B. The accompanying certificates of deposit will be completed by the agency in the usual manner, except that the U.S. dollar amount will be left blank. The Federal Reserve Bank of New York, upon sale of the currency, will enter the amount of the net dollar proceeds on the certificate of deposit, give dollar credit in the TGA, and distribute the confirmed certificate of deposit copies under established procedures.