An Act Reducing The Threshold Amount The Governor May Transfer Between Specific Appropriations To A Budgeted Agency.
Impact
By reducing the transfer threshold, the bill is likely to impact how budgeted agencies receive and manage their appropriations. This change is set to empower the governor with more detailed oversight of financial transactions between appropriations, which may result in greater accountability in state budgeting processes. While it enhances the governor's ability to manage unforeseen fiscal needs in a more timely manner, it may also lead to increased scrutiny of smaller fund transfers that previously may have required less oversight.
Summary
House Bill 05019 proposes to amend section 4-87 of the general statutes to reduce the threshold amount that the governor may transfer between specific appropriations made to a budgeted agency. The bill seeks to lower this transfer limit from $175,000 to $50,000. The intention behind this reduction aims at enhancing financial oversight and ensuring better management of state funding among budgeted agencies, allowing for more localized control over fiscal decisions.
Contention
The key contention surrounding HB 05019 is the balance between necessary gubernatorial control and the autonomy of budgeted agencies. Critics of the reduced threshold may argue that such restrictions could lead to bureaucratic delays when agencies need swift reallocations for urgent funding needs. Proponents, however, assert that this will promote fiscal responsibility and transparency in state expenditure. Understanding the implications of such changes on budgeted agencies' operations will be critical as the bill progresses through legislative discussions.