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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 11-11-135 SO AS TO REQUIRE THE OFFICE OF STATE BUDGET OF THE STATE BUDGET AND CONTROL BOARD TO COMPILE INFORMATION FROM EACH STATE AGENCY AND INSTITUTION DETAILING THE CATEGORIES AND AMOUNTS OF "OTHER FUNDS" BALANCES CARRIED FORWARD FROM THE MOST RECENTLY ENDED FISCAL YEAR INTO THE CURRENT FISCAL YEAR AND THOSE USES TO WHICH THESE BALANCES WILL BE APPLIED, TO REQUIRE THE OFFICE OF STATE BUDGET TO REPORT ITS COMPILATION TO THE GENERAL ASSEMBLY NO LATER THAN NOVEMBER FIRST OF EACH YEAR, AND TO DEFINE "OTHER FUNDS".
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 11, Title 11 of the 1976 Code is amended by adding:
"Section 11-11-135. (A) The Office of State Budget of the State Budget and Control Board after the closing of the State's books for the fiscal year, shall compile information from each state agency and institution detailing the categories and amounts of 'other funds' balances carried forward by those entities into the current fiscal year and the uses to which these funds will be applied in the current fiscal year. The Office of State Budget shall produce a report detailing these carry forwards and the uses to which they will be applied which must be distributed to the General Assembly no later than November first of each year.
(B) For purposes of this section, 'other funds' include all nongeneral fund revenue appropriated or authorized by the General Assembly in acts and joint resolutions appropriating revenues for the operations of state government."
SECTION 2. This act takes effect upon approval by the Governor and applies for fund balances carried forward into fiscal years beginning after June 30, 2011.
This web page was last updated on December 14, 2010 at 2:34 PM