PA 10-95—sHB 5535

Finance, Revenue and Bonding Committee

AN ACT CONCERNING A MONTHLY REPORT FROM THE STATE TREASURER REGARDING THE STATE'S CASH BALANCE

SUMMARY: This act requires the state treasurer to report monthly on the state's cash balance to the chairpersons and ranking members of the Finance, Revenue and Bonding and Appropriations committees and to the Office of Fiscal Analysis. Each report must cover the month that was two months before the report submission date (for example, the report submitted in March must cover January) and include:

1. a weekly cash balance listing, with the amount and percentage of such sources as the common cash pool and bond and Special Transportation Fund investments, and accompanying footnotes;

2. an ongoing, year-to-date total of authorized but unissued bonds, as well as assumptions about bond issuance and any monthly changes in the assumptions;

3. information on any other debt or commercial paper issued and their types and amounts, with accompanying footnotes; and

4. amounts in the common cash fund, with the amount of each component, such as bank and different investment accounts, listed separately.

The treasurer must start submitting the reports on October 1, 2010 and make them publicly available in both paper and electronic form.

EFFECTIVE DATE: July 1, 2010

OLR Tracking: JSL: ND: PF: DF