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2016 Regular Session
SENATE BILL NO. 460
BY SENATOR LAFLEUR
FUNDS/FUNDING. Provides for the disposition and reporting on fees and self-generated
revenues by state agencies and the state treasurer. (gov sig)
1 AN ACT
2 To amend and reenact R.S. 39:372(A)(1) and (D) and R.S. 49:320.1 and to enact R.S.
3 39:82(K) and 372(E), relative to state funds; to provide for the remission of cash
4 balances to the state general fund; to provide relative to certain state depositories and
5 associated banking and checking accounts; to provide for reporting requirements
6 relative to such banking and checking accounts; to provide for an effective date; and
7 to provide for related matters.
8 Be it enacted by the Legislature of Louisiana:
9 Section 1. R.S. 39:372(A)(1) and (D) are hereby amended and reenacted and R.S.
10 39:82(K) and 372(E) are hereby enacted to read as follows:
11 §82. Remission of cash balances to the state treasurer; authorized withdrawals of
12 state monies after the close of the fiscal year
13 * * *
14 K. (1) Notwithstanding any provision of law to the contrary except for
15 Subsection C of this Section, all unexpended fees and self-generated revenues
16 and all unexpended cash balances of any banking or checking account for which
17 no bona fide liability exists on the last day of each fiscal year shall be remitted
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1 to the state treasurer by the fifteenth day following the last day of the fiscal
2 year.
3 (2) In the event any state department, agency or budget unit shall fail to
4 remit to the state treasury the unexpended fees and self-generated revenues and
5 the unexpended cash balance from any banking or checking account for which
6 no bona fide obligation exists on the last day of the fiscal year, the governor
7 shall draw a warrant on said department, agency, or budget unit in favor of the
8 state treasurer for the amount due in accordance with the provisions of R.S.
9 49:318.
10 (3) This Subsection shall not apply to any state department, agency or
11 budget unit which is not required to deposit its funds in the state treasury
12 pursuant to Article VII, Section 9(A) of the Constitution of Louisiana or R.S.
13 49:308.
14 * * *
15 §372. Powers; policies; reports
16 A.(1) The review board is hereby empowered to require all state agencies to
17 submit a report of all banking and checking accounts and the balances in each. All
18 banking and checking accounts opened or to be opened by state agencies must have
19 the approval of the review board in writing for authorization for the account and the
20 method of compensation. Quarterly, all state agencies shall report all banking
21 and checking accounts and the balances in each account to the review board to
22 be compiled into one report and forwarded to the Joint Legislative Committee
23 on the Budget as further provided in Subsection D of this Section.
24 * * *
25 D. The review board shall make a written report to the legislature as the
26 review board deems necessary prior to the beginning of each regular session of such
27 recommendations for changes in cash management law and practices as deemed
28 appropriate. In addition to the other reporting requirements of this Subsection,
29 the review board shall quarterly make a written report to the Joint Legislative
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1 Committee on the Budget relative to the banking and checking accounts of all
2 state agencies, as follows:
3 (1) The state depositing authority as defined in R.S. 49:319.
4 (2) The banking or checking account name, account type, and, if there
5 is more than one account with the same name, the account number.
6 (3) The approval date for the banking or checking account and the name
7 of the fiscal agent bank.
8 (4) The banking or checking account investments, interest earnings, and
9 fee payments.
10 (5) The account balance as of the beginning and the end of the quarter.
11 (6) The source of the funds in the account.
12 (7) If any funds in the banking or checking account have not been
13 recognized by the Revenue Estimating Conference or have not been
14 appropriated by the legislature, whether such funds are considered by the
15 agency to be self-generated revenues, fees, statutory dedications, or interagency
16 transfers, and the dollar amount of each.
17 (E) The Joint Legislative Committee on the Budget shall hold a hearing
18 on the number and types of banking or checking accounts, the need for the
19 agency to have one or more banking or checking account, the source of funds
20 and the balances in the banking or checking account, and whatever other
21 information as deemed necessary by the chairman.
22 * * *
23 Section 2. R.S. 49:320.1 is hereby amended and reenacted to read as follows:
24 §320.1. Notification upon opening banking accounts
25 Any state depositing authority which deposits state funds in a bank
26 designated as a fiscal agent bank by the Interim Emergency Board shall provide
27 written notice to the state treasurer and the cash management review board upon
28 opening any type of account at the fiscal agent bank. The state treasurer shall
29 annually provide a listing to the Joint Legislative Committee on the Budget of all
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1 accounts reported under these provisions. The information the state treasurer
2 reports herein shall be in addition to the report required under the provisions
3 of R.S. 39:372(D).
4 Section 3. This Act shall become effective upon signature by the governor or, if not
5 signed by the governor, upon expiration of the time for bills to become law without signature
6 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
7 vetoed by the governor and subsequently approved by the legislature, this Act shall become
8 effective on the day following such approval.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Martha S. Hess.
DIGEST
SB 460 Original 2016 Regular Session LaFleur
Present law provides that cash balances occurring from appropriations made by legislative
act or by the Interim Emergency Board for which no bona fide liability exists on the last day
of the fiscal year shall be remitted to the state treasurer by the fifteenth day following the last
day of the fiscal year.
Proposed law retains present law and further provides that all unexpended fees and self-
generated revenues and all unexpended cash balances of any banking or checking account
for which no bona fide liability exists on the last day of each fiscal year shall be remitted to
the state treasurer by the fifteenth day following the last day of the fiscal year.
Proposed law further provides that if any state department, agency or budget unit fails to
remit to the state treasury the unexpended fees and self-generated revenues and the
unexpended cash balance from any banking or checking account for which no bona fide
obligation exists on the last day of the fiscal year, the governor shall draw a warrant on said
department, agency, or budget unit in favor of the state treasurer for the amount due in
accordance with the provisions of R.S. 49:318.
Proposed law further provides that it shall not apply to any state department, agency or
budget unit which is not required to deposit its funds in the state treasury pursuant to the
constitution and state law.
Present law provides for the cash management review board which is authorized to approve
the opening of banking and checking accounts by state agencies. The review board is also
empowered to require all state agencies to submit a report of all banking and checking
accounts and the balances in each.
Proposed law retains present law and further provides that all state agencies shall report all
banking and checking accounts and the balances in each account quarterly to the review
board. The review board shall then compile such information into one report and forward
the report to the Joint Legislative Committee on the Budget.
Proposed law provides that the review board's quarterly written report to the Joint
Legislative Committee on the Budget relative to the banking and checking accounts of all
state agencies, as follows:
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(1)The state depositing authority as defined in R.S. 49:319.
(2)The banking or checking account name, account type, and, if there is more than one
account with the same name, the account number.
(3)The approval date for the banking or checking account and the name of the fiscal
agent bank.
(4)The banking or checking account investments, interest earnings, and fee payments.
(5)The account balance as of the beginning and the end of the quarter.
(6)The source of the funds in the account.
(7)If any funds in the banking or checking account have not been recognized by the
Revenue Estimating Conference or have not been appropriated by the legislature,
whether such funds are considered by the agency to be self-generated revenues, fees,
statutory dedications, or interagency transfers, and the dollar amount of each.
Proposed law further provides that the Joint Legislative Committee on the Budget shall hold
a hearing on the number and types of banking or checking accounts, the need for the agency
to have one or more banking or checking account, the source of funds and the balances in
the banking or checking account, and whatever other information as deemed necessary by
the chairman.
Present law provides that any state depositing authority which deposits state funds in a bank
designated as a fiscal agent bank by the Interim Emergency Board shall provide written
notice to the state treasurer upon opening any type of account at the fiscal agent bank. The
state treasurer is to annually provide a list of all accounts to the Joint Legislative Committee
on the Budget.
Proposed law retains present law and further provides that the state depositing authority shall
provide written notice to the cash management review board in addition to the state treasurer
upon opening any type of account.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 39:372(A)(1) and (D) and R.S. 49:320.1; adds R.S. 39:82(K) and 372(E))
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.