Vendors send various rebate checks to the Office of State Procurement(OSP) after the close of a calendar quarter. OSP then verifies the information and enters payment data into AASIS to issue checks to the appropriate recipients. Because the rebate check for the quarter of April – June is NOT received until the next fiscal year, State agencies must follow these directions for any monies rebated during that time period.
The warrant must be deposited into the fund(s) from which the expenditures were made. The revenue general ledger code that should be used for the deposit is 4047041000 Volume Rebate.
Pursuant to Arkansas Code § 19-5-1004 (b) through (d), DFA Office of Accounting will reclaim the amount of this warrant that was funded by General Revenue. If warrant is 100% General Revenue, please notify DFA-OA when the deposit is made. If the rebate is funded by Special Revenue or Federal Funds, notify DFA-OA not to reclaim the rebate amount. If the rebate is funded by mix funding, notify DFA-OA of the proper percentages as certified to the DFA Office of Budget so the proper amount could be reclaimed as stated in Arkansas Code § 19-6-110. If you have any questions about the calculation, please contact Office of Accounting at email@example.com.
The agency must complete a certification form indicating the reclaimable and non-reclaimable amounts. The agency should complete the lower portion of the accompanying Prior Year Warrant Cancellation/Refund/Rebate Certification form. The completed form should be submitted to DFA Office of Accounting as soon as possible after the deposit is made so that funds will be available for the reclaim.