PA 10-143—HB 5392

Appropriations Committee


SUMMARY: This act expands reporting requirements for quasi-public agencies and establishes a new one. By law, the board of directors of each quasi-public agency must file a quarterly report with the Office of Fiscal Analysis (OFA) on the money it received or held during the preceding quarter. Beginning July 1, 2010, the act requires these reports to include (1) the beginning fiscal year balance, (2) all funds spent and revenue collected by the quarter's end, and (3) an estimate of total expenditures and revenues by the fiscal year's end. Under prior law, these reports had to include only an accounting of money received or held during the quarter, including expenditures and revenues. The law does not specify when the reports are due.

Beginning July 1, 2010, the act requires quasi-public agencies to also submit to OFA quarterly personnel status reports. The status reports must include (1) total number of employees, (2) positions vacated and filled by the quarter's end, and (3) an estimate of positions that will be vacant and filled by the fiscal year's end.

The quasi-public agencies are the Connecticut Development Authority, Connecticut Innovations, Inc. , Connecticut Health and Educational Facilities Authority, Connecticut Higher Education Supplemental Loan Authority, Connecticut Housing Finance Authority (CHFA), Connecticut Housing Authority, Connecticut Resources Recovery Authority, Capital City Economic Development Authority, and Connecticut Lottery Corporation. (The Connecticut Housing Authority has been succeeded by the State Housing Authority, a subsidiary of CHFA. )

The quarterly reports are in addition to the annual reports each quasi-public agency must submit to the governor, the Auditors of Public Accounts, and the Program Review and Investigations Committee. The annual reports must include information about each agency's bond issues, projects, financial assistance over $5,000 to individuals, balance sheets, affirmative action policies and efforts, and planned activities for the year.

EFFECTIVE DATE: July 1, 2010

OLR Tracking: KS: SP: PF: DF