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![handle is hein.sag/sagco0039 and id is 1 raw text is: Gale A. Norton
Attorney General DEPARTMENT OF LAW - -
OFFICE OF THE ATTORNEY GENERAL Y
March 11, 1991
Tom Hancock
Department of the Treasury
State Capitol
Denver, CO 80203
RE: Interest on Custodial Funds and State Moneys
Dear Mr. Hancock:
I write in response to your request for a formal opinion regard-
ing interest derived from the investment by the treasury of cus-
todial funds.
QUESTIONS PRESENTED AND CONCLUSIONS
1. Must the state treasurer credit interest earned on a custo-
dial fund to that custodial fund?
Yes.
2. Must the state treasurer credit interest earned on state
moneys to the general fund?
Yes, unless otherwise provided by law.
ANALYSIS
1. The state has control over many custodial funds. The
treasurer deposits and invests the money in these funds and earns
interest thereon. You have asked whether the interest earned on
these investments must remain in the custodial fund.
Custodial funds generally are funds:
(w]hich are given to the state for partic-
ular purposes and of which the state is a
custodian or trustee to carry out the pur-](ViewImageLocal?handle=hein.sag/sagco0039&div=1&collection=&method=preview&ext=.png&size=3)