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|Understanding a Depository Filer's Deposit Totals|
|On a monthly (or bi-weekly) basis, a depository financial institution reporting activity on a
depository filer's designated campaign account reports the following information to OCPF:|
Due to this slight difference in the way deposit dates are reported by the depository filer and the depository financial institution, from time to time the total deposit amount filed for a reporting period by a depository filer will not match the total deposit amount filed for the same reporting period by the filer's designated depository financial institution.
For example, if a depository filer makes a deposit at 5:00PM on May 31st, the last day of the May reporting period, he will file an itemized deposit report for May 31st which will be captured for display by the EFS for the May reporting period.
However, the filer's designated depository financial institution might not process and post this deposit to the filer's campaign account until June 1st, the next business day, which is the beginning date for the June reporting period. Since the depository financial institution uses the posting date to report the deposit, the deposit will not appear until the depository financial institution files its June report.
Consequently, in May, the depository filer will report a higher total amount deposited than the depository financial institution. In June, the filer's total will be lower than the bank's total deposits reported.
Accordingly, if you notice a discrepancy between the candidate-reported total and the bank credited total for a reporting period, you should check the totals reported during the reporting periods just prior to and just after the reporting period with the apparent discrepancy. Often you will discover that the aggregate totals for two or more of these reporting periods will match.