§ 35-1-5 - Quarterly financial reporting.
SECTION 35-1-5
§ 35-1-5 Quarterly financial reporting.– The director of administration shall direct the state controller to prepare andreport quarterly financial statements regarding the financial condition of thestate, including actual revenue collections compared to the estimates uponwhich the budget was based, and actual departmental expenditures andencumbrances compared to appropriations. Furthermore, the director shall directthe state budget officer to project on a quarterly basis the anticipated yearend balance assuming current trends continue and that typical cyclicalexpenditure patterns prevail over the course of the year. A consolidatedquarterly report incorporating the current status and projection shall bereleased to the public, with copies provided to the chairperson of the HouseFinance Committee, chairperson of the senate finance committee, house fiscaladvisor, and senate fiscal advisor, within forty-five (45) calendar days of theend of each quarter.