Urge and request that the executive budget include certain retirement expense information in the report of discretionary and nondiscretionary expenditures
Impact
The resolution highlights the crucial need for consistent reporting on the financial obligations of the state retirement systems mandated by state law. Including the unfunded accrued liabilities in the executive budget will not only provide lawmakers with the necessary information to make informed decisions but will also allow for better management of retirement system finances. The request underscores the importance of addressing these financial commitments to ensure the sustainability of state retirement systems moving forward, potentially influencing future legislative actions or budgetary changes by shedding light on fiscal responsibilities.
Summary
HCR1, also known as the House Concurrent Resolution No. 1, aims to urge and request the Louisiana commissioner of administration to include information regarding the unfunded accrued liabilities of state retirement systems in the state's executive budget as nondiscretionary expenditures. This measure addresses the substantial unfunded liabilities that various state retirement systems carry, which total billions across different programs, including those for state employees and teachers. By including this financial information, HCR1 seeks to enhance transparency and accountability in state budgeting processes concerning retirement funding obligations.
Sentiment
The sentiment around HCR1 appears to be one of support among legislators who recognize the importance of transparent fiscal practices regarding retirement funding. While no significant opposition or contention was noted in the discussions or voting history available in the summaries, the bill’s practical implications for budgeting illustrate a broader commitment to sound financial management. Legislators seem to agree on the necessity of including comprehensive data in budgets to inform decision-making at all levels of government, reflecting a proactive approach to state financial health.
Contention
However, it is important to consider potential complexities that could arise in the execution of this resolution. The request for illustrative estimates could pose operational challenges for the commissioner of administration, particularly in calculating and presenting these financial figures without causing confusion with existing reports. While the bill aims to improve budgetary transparency, stakeholders might debate the feasibility and resources required to implement such an enhancement effectively, ensuring that the illustrative estimates provided do not become burdensome for state agencies.
Urges and requests the governor to submit an executive budget and General Appropriation Bill which clearly differentiate expenditures which are reliant upon other legislative actions
Provides for modifications to the standstill budget to include means of finance substitutions for discretionary and nondiscretionary requirements. (8/1/18) (EN NO IMPACT See Note)
Requests the legislative auditor to identify expenditures of proceeds collected by the state but not deposited into the treasury and general fund expenditures not appropriated by the legislature
Requires certain information and analysis to be included in the governor's executive budget and the General Appropriation Bill (EN INCREASE GF EX See Note)
Requests the governor, through the commissioner of administration, in preparing and submitting the 2011-12 general appropriation bill to exclude all expenditures that are not "for the ordinary operating expenses of government, public charities, pensions, and the public debt or interest thereon"
Creates the Task Force on Structural Changes in Budget and Tax Policy to continue the budget and tax reform evaluations begun in the 2016 First Extraordinary Session and urges and requests the governor to support and implement initiatives for structural change introduced in upcoming sessions that will lead to savings through more efficient and effective state operations