 |
Ohio Administrative Code (Last Updated: January 12, 2021) |
 |
113 Treasurer of State |
|
Chapter113-40. Collateral Requirement |
113-40-07. Fees
-
(A) Pursuant to division (L) of section 135.182 of the Revised Code, a public depository that selects the pledging method in division (B) of section 135.182 of the Revised Code shall pay the treasurer of state fees in accordance with the following schedule:
(1) Each public depository shall pay an annual fee based on the average month end balance of public deposits from the prior year of participation in the Ohio pooled collateral program. The treasurer of state shall charge a public depository that participates in the Ohio pooled collateral program a pro rata annual fee for each quarter that the public depository participated in the Ohio pooled collateral program. The treasurer of state may charge a public depository the quarterly pro rata amount, in full, for any participation in that quarter. The annual fee for participation in the Ohio pooled collateral program shall be assessed in the following tiers of average month end balance of public deposits:
(a) Nine thousand dollars for a public depository that has greater than or equal to five hundred million dollars in average month end public deposits;
(b) Seven thousand dollars for a public depository that has greater than or equal to one hundred million dollars but less than five hundred million dollars in average month end public deposits;
(c) Five thousand dollars for a public depository that has greater than or equal to fifty million dollars but less than one hundred million dollars in average month end public deposits; or
(d) Two thousand dollars for a public depository that has less than fifty million dollars in average month end public deposits.
(2) Each public depository that is granted a specific pledge account at the discretion of the treasurer of state pursuant to paragraph (A)(31) of rule 113-40-01 of the Administrative Code shall pay a fee of one hundred dollars per month for each discretionary specific pledge account. The treasurer of state shall not charge a monthly fee for using a specific pledge account granted because the charter for the public unit requires use of the specific pledge method or United States federal law designates the specific pledge method for the public unit.
(3) Each public depository that is permitted to secure public deposits at an amount under division (B)(1)(b) of section 135.182 of the Revised Code shall pay a fee of three thousand dollars per year.
(B) The treasurer of state shall invoice each public depository annually, in arrears, on or around July first of each year for fees assessed under paragraph (A) of this rule for participation in the Ohio pooled collateral program.
(C) Each fee shall be due to the treasurer of state within forty-five days from the date of invoice.The treasurer of state may impose a late fee of ten per cent on any unpaid fees after forty-five days from the date of invoice on a public depository. Further, failure to pay an invoice may result in a cushion collateral requirement under paragraph (A)(8) of rule 113-40-01 of the Administrative Code.
(D) The treasurer of state, at its sole discretion, may waive any fee, including late fees, of a public depository.
(E) The treasurer of state may increase the fees under this rule at a rate up to the consumer price index from the United States department of labor, bureau of labor statistics.