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TO AMEND ARTICLE 1, CHAPTER 11, TITLE 11 OF THE 1976 CODE, RELATING TO THE STATE BUDGET SYSTEM, BY ADDING SECTION 11-11-135, TO PROVIDE THAT THE EXECUTIVE BUDGET OFFICE MUST COMPILE INFORMATION FROM EACH STATE AGENCY AND INSTITUTION DETAILING THE CATEGORIES AND AMOUNTS OF "OTHER FUNDS" BALANCES CARRIED FORWARD FROM THE MOST RECENTLY COMPLETED FISCAL YEAR INTO THE CURRENT FISCAL YEAR AND THOSE USES TO WHICH THESE BALANCES WILL BE APPLIED; TO REQUIRE THE EXECUTIVE BUDGET OFFICE 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) For purposes of this section, 'other funds' include all non-general fund revenue appropriated or authorized by the General Assembly in acts and joint resolutions appropriating revenues for the operations of state government.
(B) Annually, following the closing of the State's books for the fiscal year, the Executive Budget Office 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 Executive Budget Office shall produce a report detailing these carry-forward funds 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."
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, 2017.
This web page was last updated on December 13, 2016 at 2:15 PM