8A.314 - PURCHASING REVOLVING FUND.

        8A.314  PURCHASING REVOLVING FUND.
         1.  A purchasing revolving fund is established within the
      department.  The director shall keep an accurate itemized account for
      each state agency purchasing through the department, using services
      provided for by the department, and using postage supplied by the
      department.
         2.  At the end of each month the director shall render a statement
      to each state agency for the actual cost of items purchased through
      the department, and the actual cost of services and postage used by
      the agency.  The monthly statement shall also include a fair
      proportion of the administrative costs of the department during the
      month.  The portion of administrative costs shall be determined by
      the director subject to review by the executive council upon
      complaint from any state agency adversely affected.
         3.  Statements rendered to the various state agencies shall be
      paid by the state agencies in the manner determined by the
      department.  When the statements are paid the sums shall be credited
      to the purchasing revolving fund.  If any funds accrue to the
      revolving fund in excess of two hundred twenty-five thousand dollars
      and there is no anticipated need or use for such funds, the governor
      shall order the excess funds credited to the general fund of the
      state.  
         Section History: Recent Form
         2003 Acts, ch 145, §33