(1) Each state agency shall review its funds, accounts or trusts held within and outside of the State Treasury and shall report to the State Treasurer and the Department of Finance and Administration no later than September 30, 2026, the following information:(a) The name of each of its funds, accounts or trusts;(b) The code or number of each of its funds, accounts or trusts;(c) The purpose of each of its funds, accounts or trusts;(d) Whether the fund, account or trust was created by the state agency or by law;(e) If created by law, a reference to the law or statute, as applicable;(f) Whether the fund, account or trust retains the interest earned on monies in it or provides where the interest earned on such monies is transferred;(g) Whether there is any restriction on transferring the interest earned on the monies in the fund, account or trust to the General Fund;(h) Whether the fund, account or trust can be closed or consolidated with another fund, account or trust due to the fund not having transactional activity other than the deposit of any earned interest;(i) If it is determined that the fund can be closed or consolidated, a statement as to whether the action must be effectuated by legislation;(j) A statement as to whether the fund, account or trust is held in an interest-bearing account regulated by this chapter;(k) If the fund is not being held in an interest-bearing account regulated by this chapter, a statement that an exception has been received from the Treasurer under Section 27-105-33(4);(l) A statement as to whether the fund is held within the public funds guaranty pool under this chapter;(m) If the fund is not being held within the public funds guaranty pool under this chapter, a statement that an exception has been received from the Treasurer under Section 27-105-33(4); and(n) Whether an agency has a fund created by law without an associated fund created in the State Treasury.
(a) The name of each of its funds, accounts or trusts;
(b) The code or number of each of its funds, accounts or trusts;
(c) The purpose of each of its funds, accounts or trusts;
(d) Whether the fund, account or trust was created by the state agency or by law;
(e) If created by law, a reference to the law or statute, as applicable;
(f) Whether the fund, account or trust retains the interest earned on monies in it or provides where the interest earned on such monies is transferred;
(g) Whether there is any restriction on transferring the interest earned on the monies in the fund, account or trust to the General Fund;
(h) Whether the fund, account or trust can be closed or consolidated with another fund, account or trust due to the fund not having transactional activity other than the deposit of any earned interest;
(i) If it is determined that the fund can be closed or consolidated, a statement as to whether the action must be effectuated by legislation;
(j) A statement as to whether the fund, account or trust is held in an interest-bearing account regulated by this chapter;
(k) If the fund is not being held in an interest-bearing account regulated by this chapter, a statement that an exception has been received from the Treasurer under Section 27-105-33(4);
(l) A statement as to whether the fund is held within the public funds guaranty pool under this chapter;
(m) If the fund is not being held within the public funds guaranty pool under this chapter, a statement that an exception has been received from the Treasurer under Section 27-105-33(4); and
(n) Whether an agency has a fund created by law without an associated fund created in the State Treasury.
(2) The Treasurer shall review the information submitted by the agencies for accuracy and compile the information submitted in subsection (1) of this section in a report to the Legislative Budget Office to be delivered by December 15, 2026. The report shall also include a recommendation on which funds should be closed or combined, a listing of idle funds receiving interest allocation from pooled interest investments, and recommended changes to the general laws of Mississippi related to the information provided by the agencies. The Department of Finance and Administration shall assist the Treasurer with any information necessary to complete the report.
(3) Beginning with calendar year 2028 and each calendar year following a statewide election as provided in Section 23-15-193 thereafter:(a) All state agencies shall provide the information required by subsection (1) of this section to the department and the Treasurer no later than September 30; and(b) The Treasurer shall complete the required reporting in subsection (2) of this section and provide it in a report to the Legislative Budget Office and the Senate and House Legislative Services Offices by December 15.
(a) All state agencies shall provide the information required by subsection (1) of this section to the department and the Treasurer no later than September 30; and
(b) The Treasurer shall complete the required reporting in subsection (2) of this section and provide it in a report to the Legislative Budget Office and the Senate and House Legislative Services Offices by December 15.
(4) In addition to the four-year report, the state agencies shall file interim reports with the Treasurer including the information required by subsection (1) of this section for any new funds created by state agencies by September 30 of each year when a four-year report is not required. The Treasurer shall compile the interim reports under this subsection and provide it in a report to the Legislative Budget Office by December 15 of each year when a four-year report is not required.
(5) The State Fiscal Officer may disapprove of payments from the State Treasury if a state agency does not timely provide the information required by this section.