(a) The Chief Fiscal Officer of the State may require, from time to time as he or she deems necessary, a statement from a state agency setting out the prospective funds that are estimated to become available and a statement of the outstanding obligations and of the proposed expenditures of that agency for the remainder of the fiscal period.
(b) If, in the Chief Fiscal Officer of the State's judgment, an agency has incurred or is about to incur a deficit, the Chief Fiscal Officer of the State shall call upon the agency to stop incurring obligations, under penalty of the agency's disbursing bond.