§ 6-1433.03. Office of Public Guardian Organizational Collective Account and document requirements for annual filing.

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§ 6-1433.03. Office of Public Guardian Organizational Collective Account and document requirements for annual filing.

   The Office of Public Guardian may utilize an organizational collective account at a bank for individuals for whom the Office of Public Guardian has been appointed as guardian and/or conservator.

   (A) When an organizational collective account is utilized by the Office of Public Guardian, the account shall:

   (1) be appropriately titled to represent that the Office of Public Guardian holds the account in a fiduciary capacity on behalf of wards, incapacitated persons, protected persons, and/or minors who own the funds, but who shall have no access to the account;

   (2) hold only the funds of wards, incapacitated persons, protected persons, and/or minors, which funds shall not be commingled with any other Office of Public Guardian funds and shall be separate and distinct from any other Office of Public Guardian accounts.

   (B) The interest earned on an organizational collective account shall be credited pro rata, net of pro rata bank fees and account costs, to the ward's, incapacitated person's, protected person's, and/or minor's individual ledger.

   (C) When an organizational collective account is utilized, the Office of Public Guardian shall develop financial policies and procedures to include:

   (1) an individual ledger for each ward, incapacitated person, protected person, and/or minor for which the Public Guardian holds funds. This ledger shall:

   (a) give the name of the ward, incapacitated person, protected person, and/or minor,

   (b) detail all money received and paid out on behalf of the ward, incapacitated person, protected person, and/or minor, and

   (c) show the ward's, incapacitated person's, protected person's, and/or minor's balance following every receipt or payment;

   (2) disbursements from the ward's, incapacitated person's, protected person's, and/or minor's individual ledger shall not exceed the funds received from, or on behalf of, that individual;

   (3) documentation comparing, and reconciling if necessary, the monthly prospective budget of the ward, incapacitated person, protected person, and/or minor, managed by the Associate Public Guardian, to the individual ledger of the actual monthly expenditures administrated by the business manager and disbursed from the ward's, incapacitated person's, protected person's, and/or minor's funds, which shall be attached to the annual report for the ward, incapacitated person, protected person, and/or minor;

   (4) the business manager will complete the certificate of proof of possession form certifying the balance on deposit, in accordance with the organizational collective account individual ledger for the ward, incapacitated person, protected person, and/or minor; the certified balance on deposit shall be verified by the documentation in (C)(3); and

   (5) the account shall be tracked electronically through a case management software accounting system maintained by the Office of Public Guardian. The software system shall be able to produce all financial reporting in a form that can be reproduced in printed hard copy for annual reporting to the court.

   (D) When an organizational collective account is utilized by the Office of Public Guardian, job functions within the Office of Public Guardian shall be structured to require segregation of duties relating to the handling of account funds.

   (E) The use of the organizational collective account, in accordance with the provisions of this section, shall not be deemed as a violation of Neb. Ct. R. of Prof. Cond. § 3-501.15.

§ 6-1433.03 adopted June 15, 2016.