Title 19 — Public Finance
34 chapters · 998 sections in this title.
Ark. Code Ann. § 19-1-201 Chief Fiscal Officer of the State
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The Secretary of the Department of Finance and Administration is the Chief Fiscal Officer of the State.
Ark. Code Ann. § 19-1-202 Secretary
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(a) The Secretary of the Department of Finance and Administration shall be at least thirty (30) years of age, of good moral character, and of demonstrated ability in the field of his or her employment. (b) Before entering upon his or her duties of employment, the Secretary of the…
Ark. Code Ann. § 19-1-203 Deputy director
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(1) The Deputy Director of the Department of Finance and Administration, acting under the authority granted to him or her by the Secretary of the Department of Finance and Administration, and under the laws relating to budget and accounting procedure, shall:(1) (A) Prepare and pu…
Ark. Code Ann. § 19-1-204 Personnel
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(a) Except as otherwise provided by this subchapter, all of the personnel of the Department of Finance and Administration shall be employed by and serve at the pleasure of the Secretary of the Department of Finance and Administration. (b) Nothing contained in this subchapter inhi…
Ark. Code Ann. § 19-1-205 Office
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The Building Authority Division shall assign to the Department of Finance and Administration and divisions of the department suitable office space with the necessary conveniences for the transaction of the department's business and the safekeeping of the department's records.
Ark. Code Ann. § 19-1-206 Seal
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The Governor shall procure an official seal for the Department of Finance and Administration. Every paper executed by the Secretary of the Department of Finance and Administration or by any other employee of the department and sealed with its official seal shall be received in ev…
Ark. Code Ann. § 19-1-207 General accounting system
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(1) The Secretary of the Department of Finance and Administration shall:(1) Enforce the general accounting and fiscal procedures of the State of Arkansas that have been placed upon him or her by law;(2) Exercise supervision over the general accounting system of the state and of s…
Ark. Code Ann. § 19-1-208 Rules
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The Secretary of the Department of Finance and Administration may make reasonable rules not inconsistent with the law that are necessary or desirable for the orderly discharge of the duties vested in the Department of Finance and Administration.
Ark. Code Ann. § 19-1-209 Publications required
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(a) The Secretary of the Department of Finance and Administration shall publish and furnish copies to all state agencies of rules that are issued by him or her, pursuant to law, providing for a general accounting procedure. (b) The secretary shall also publish not less often than…
Ark. Code Ann. § 19-1-210 Recordkeeping
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(a) For the purpose of effectively carrying out the fiscal procedures provided by law, the Secretary of the Department of Finance and Administration may install the recordkeeping and other procedures in his or her own office and in other state offices and departments that the sec…
Ark. Code Ann. § 19-1-211 Investigations
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(a) (1) In any matter within the jurisdiction of the Department of Finance and Administration, the Secretary of the Department of Finance and Administration may make investigations and may delegate that power to any division or section head of the department.(2) For this purpose,…
Ark. Code Ann. § 19-1-212 Duty to avoid deficit
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(1) The Secretary of the Department of Finance and Administration shall:(1) Keep advised at all times as to the revenues and other income available for the operation, maintenance, and improvement of all state agencies;(2) Exercise the powers conferred upon him or her by law to se…
Ark. Code Ann. § 19-1-213 Leasing of state property
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(a) With approval of the Governor, the Secretary of the Department of Finance and Administration may lease any state property, real or personal, that is not needed for public use, if:(1) The leasing of the property is not prohibited by law; and(2) The authority to lease the prope…
Ark. Code Ann. § 19-1-214 Federal gifts and surplusage
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Notwithstanding the provisions of this subchapter or any other law that requires advertisement for bids or the soliciting or receiving of competitive bids, the Secretary of the Department of Finance and Administration may enter into a contract with the United States Government or…
Ark. Code Ann. § 19-1-301 Exceptions
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All constitutional officers other than the Treasurer of State are exempt from this subchapter.
Ark. Code Ann. § 19-1-302 Treasurer of State
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(a) The bond for the Treasurer of State is one million dollars ($1,000,000). (b) The original of the bond required by this section to be filed by the Treasurer of State shall be filed in the office of the Secretary of State, and a copy shall be filed with the Auditor of State.
Ark. Code Ann. § 19-1-303 County and municipal officials and employees
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(a) (1) County officials and employees, municipal officials and employees, and all other officers and employees of a political subdivision of this state who are required by law to furnish bond and who receive and disburse cash funds from bank accounts shall obtain a surety bond f…
Ark. Code Ann. § 19-1-304 County judges
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(a) (1) The county judge in each county shall furnish bond in an amount computed in accordance with § 19-1-303(b).(2) The bond shall be conditioned that the officer faithfully performs the duties of the office and properly accounts for all funds disbursed by him or her as county …
Ark. Code Ann. § 19-1-305 State agency employees as disbursing agents
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(a) (1) If the executive head of a state agency designates a full-time employee to act as his or her agent in the disbursement of funds under his or her control, the agent shall furnish additional bond to be fixed by the Secretary of the Department of Finance and Administration.(…
Ark. Code Ann. § 19-1-401 “Eligible investment securities” defined
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(1) As used in this subchapter, “eligible investment securities” means:(1) A direct or guaranteed obligation of the United States that is backed by the full faith and credit of the United States Government;(2) A direct obligation of an agency, instrumentality, or government-spons…
Ark. Code Ann. § 19-1-402 Provisions supplemental
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This subchapter does not repeal any prior legislation or affect any statute pertaining to the conversion of funds of public officials and agencies into investments authorized under this subchapter but is supplemental to present law and confers additional powers.
Ark. Code Ann. § 19-1-403 Construction
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(a) This subchapter does not affect the power of counties, municipalities, improvement districts, and other public bodies to make a deposit of funds in the form of a demand deposit, a savings deposit, or a time deposit as authorized by law. (b) The adoption of this subchapter doe…
Ark. Code Ann. § 19-1-404 Investments permitted
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(a) (1) With the approval of the county or municipal depository board, a treasurer may convert any funds in the treasurer's possession or under the treasurer's control and not presently needed for other purposes into one (1) or more of the following investments:(A) Eligible inves…
Ark. Code Ann. § 19-1-405 Additional authority of certain cities
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(a) (1) A city that has real property assessed valuation in excess of three hundred million dollars ($300,000,000) may invest the city's funds in securities under § 23-47-401 and according to the investment policy adopted by the governing body of the city.(2) The investment polic…
Ark. Code Ann. § 19-1-501 Title
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This subchapter may be known and cited as the “State Fiscal Management Responsibility Act”.
Ark. Code Ann. § 19-1-502 Intent and purpose
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(a) The General Assembly has enacted various laws relating to the receipting, disbursing, depositing, and accounting for public funds, as well as laws relating to establishing salaries, and the purchasing of commodities by various state agencies. In addition, the Department of Fi…
Ark. Code Ann. § 19-1-503 Definitions
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(1) As used in this subchapter:(1) “Agency” means any state agency, bureau, board, commission, council, department, institution, or office of the State of Arkansas;(2) “Executive agencies” means all agencies other than constitutional, judicial, and legislative officers, agencies,…
Ark. Code Ann. § 19-1-504 Existing remedies not impaired
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This subchapter does not limit or diminish any civil rights or administrative procedures available to any public officer or employee.
Ark. Code Ann. § 19-1-505 Civil procedures apply
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All actions and procedures under this subchapter are civil in nature and are governed by the appropriate rules and laws regarding civil actions and remedies.
Ark. Code Ann. § 19-1-506 Investigation of violations
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(a) Upon discovery or notification of an alleged violation of the fiscal responsibility and management laws, each agency shall investigate the allegation and take appropriate administrative action. (b) The director of each agency or, in the case of a constitutional office, the co…
Ark. Code Ann. § 19-1-507 Documentation and notification of violation — Remedial action
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(a) After completing the investigation, if the agency determines that there has been a violation of the fiscal responsibility and management laws, the facts and circumstances relating to a violation and any corrective or remedial action taken shall be documented and placed in the…
Ark. Code Ann. § 19-1-508 Notification of Department of Finance and Administration — Review
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(a) Within thirty (30) days after the expiration of the time period for the public officer or employee to effect corrective or remedial action, the agency shall transfer to the Secretary of the Department of Finance and Administration a document containing a summary of the violat…
Ark. Code Ann. § 19-1-509 Executive agencies
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(a) (1) Before the Secretary of the Department of Finance and Administration may impose additional corrective or remedial action regarding public officers or employees of executive agencies, the secretary shall conduct an investigation regarding any violation.(2) The public offic…
Ark. Code Ann. § 19-1-510 Investigation and suit by Attorney General
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(a) The Secretary of the Department of Finance and Administration, the Legislative Joint Auditing Committee, or the Legislative Council may request the office of the Attorney General to review information concerning a violation of the fiscal responsibility and management laws to …
Ark. Code Ann. § 19-1-511 Civil penalty
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If the public officer or employee is found by the circuit court to have knowingly violated the fiscal responsibility and management laws, the circuit court shall impose a civil penalty upon the public officer or employee of not less than one hundred dollars ($100), nor more than …
Ark. Code Ann. § 19-1-512 Recovery of costs
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(a) If the public officer or employee is found by the circuit court to have knowingly violated the fiscal responsibility and management laws, the Attorney General may recover costs and attorney's fees associated with the civil suit from the public officer or employee. (b) Costs o…