SF0070

Official summary

Bill No.: <billno> Drafter: <drafterinit> Bill No.: SF0070 Drafter: DKG LSO No.: 14LSO-0249 Effective Date: 7/1/2014 Enrolled Act No.: SEA0008 Chapter No.: CH0008 Prime Sponsor: Management Audit Committee Catch Title: State appropriations-lapsing of funds. Subject: Defines an outstanding obligation legally incurred for purposes lapsing state funds. Summary/Major Elements: This act is the result of a program evaluation conducted by the Management Audit Committee. It is a companion bill to SF 71, which also addresses the reversion of appropriate funds. Current law, relating to the lapsing and reversion of appropriated funds, excludes funds for outstanding obligation legally incurred from the provisions for lapsing and reversion but does not define that phrase. This act defines the phrase outstanding obligation legally incurred for purposes of carrying forward state appropriated funds. The definition provides clearer guidance to agencies and the state auditor regarding the nature of an agreement or contract which would allow agencies to carry funds forward. The act requires the state auditor and agencies to work together in each even numbered year to identify and report, to the governor and the joint appropriations interim committee, funds that have been carried forward and requires the reversion of those funds that were determined to have been improperly carried forward. The chief information officer is to be consulted for purposes of information technology projects that involve carried over funds. The act appropriates $121,000 and authorizes an additional full-time position to the auditors office. Comments: Report Required: Every even numbered year to the governors office and the joint appropriations interim committee; Amends a major program: lapsing and reversion of appropriated funds.