Connecticut Senate Bill SB01000

Connecticut 2011 Regular Session

• Introduced: 2/17/11
• Refer: 2/17/11

Caption

An Act Reforming The State Budget Process.

Impact

The bill seeks to implement a more uniform set of processes that state agencies must follow when drafting budget documents and making financial requests. This includes requiring detailed accounts of state expenditures and making state agencies accountable for their spending practices. The bill also advocates for compliance with Generally Accepted Accounting Principles (GAAP), which may lead to significant changes in how the budget is prepared and submitted to the General Assembly.

Summary

Senate Bill 1000, titled 'An Act Reforming The State Budget Process,' seeks to establish stricter guidelines and protocols for how the state manages its budgetary process. This bill is aimed at addressing issues related to fiscal responsibility and transparency in state financial dealings. Among its aims is the establishment of a Budget Reserve Fund that would ensure a set percentage of unappropriated surplus is consistently redirected towards funding this reserve, thus enhancing the state's financial stability.

Contention

Discussions around SB1000 highlighted concerns from some legislators regarding the implications of centralizing authority within the Governor's office for making budget adjustments and overseeing agency expenditures. Critics argue that this might diminish checks and balances within state governance. Additionally, questions arose regarding the potential for reduced flexibility in responding to fiscal emergencies given the newfound structures proposed by this bill.