The original instrument was prepared by Martha Hess. The following digest, which
does not constitute a part of the legislative instrument, was prepared by Nancy
Vicknair.
DIGEST
SB 460 Reengrossed 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 for which no bona fide liability exists on the last day of each fiscal year, all unexpended
appropriations of fees and self-generated revenues, interagency transfers, and self-generated revenues
to be carried forward, shall be reported to the state treasurer on or before the fifteenth day following
the last day of the fiscal year.
Proposed law provides that the state treasurer shall compile the information submitted pursuant to
proposed law into one report, and forward the report to the JLCB for consideration at its September
meeting.
Proposed law provides that it applies to any state department, agency or budget unit, even those
which are not required to deposit its funds in the state treasury.
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 make a quarterly written report to the JLCB relative to
the banking and checking accounts of all state agencies, as follows:
(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)The purpose of the banking or checking account.
(8)If a banking or checking account is closed during the quarter, the date of the closure, the
balance of the account on the date of the closure, and documentation from the bank that the
account has been closed.
Proposed law further provides that the JLCB 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.
Proposed law further provides that the JLCB shall forward a copy of the reports that it receives from
the review board, with whatever changes it deems necessary, to the Revenue Estimating Conference
for its use in estimating fees and self-generating revenues for the official forecast.
Present law requires the legislative auditor to review each state agency's compliance with the review
board's approved cash management policies and procedures and report any noncompliance to the
Legislative Audit Advisory Council and to the cash management review board. Proposed law retains
present law.
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), (D), and (E) and R.S. 49:320.1; adds R.S. 39:82(K) and 372(F) and
(G))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Finance to the original bill
1. Removes requirement for remission to the state treasurer of all unexpended fees and self-generated revenues and unexpended cash balances of any banking and checking
account for which no bona fide liability exists on the last day of each fiscal year, and
requires reporting of unexpended appropriations of fees and self-generated revenues,
interagency transfers, or self-generated revenues authorized to be carried forward.
2. Requires the state treasurer to compile the information into one report, and forward
the report to JLCB for consideration at its September meeting.
3. Provides that proposed law applies to any state department, agency or budget unit,
even those which are not required to deposit its funds in the state treasury.
4. Removes requirement that Cash Management Review Board report on funds in
banking or checking accounts which have not been recognized by the Revenue
Estimating Conference or have not been appropriated.
5. Requires Cash Management Review Board report to include the purpose of each
banking or checking account and information on any banking or checking account
that has closed during the quarter.
6. Provides that the JLCB shall forward a copy of the reports that it receives from the
review board, with changes deemed necessary, to the Revenue Estimating
Conference for its use in estimating fees and self-generated revenues for the official
forecast.
Summary of Amendments Adopted by Senate
Senate Floor Amendments to engrossed bill
1. Make technical changes.