81-1107.05. Director of Administrative Services; interfund borrowing; powers and duties.
(1) The Director of Administrative Services may initiate interfund borrowing among the various revolving funds within the Department of Administrative Services, except that at no time shall the aggregate advances from all lending funds exceed five hundred thousand dollars.
(2) The director shall report to the budget administrator of the budget division of the department and the Legislative Fiscal Analyst:
(a) The amount of each interfund loan processed or repaid and the date of the transaction; and
(b) An explanation of each interfund loan transaction.
The report submitted to the Legislative Fiscal Analyst shall be submitted electronically.
(3) By July 15 each year, the director shall report to the budget administrator and the Legislative Fiscal Analyst the:
(a) Outstanding aggregate balances advanced from the respective revolving funds within the department as of the preceding June 30; and
(b) Outstanding aggregate balances borrowed by each fund from the respective revolving funds within the department as of the preceding June 30.
The report submitted to the Legislative Fiscal Analyst shall be submitted electronically.
Source
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.