Louisiana Revised Statutes 39:74 – Avoidance of cash flow deficits
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Terms Used In Louisiana Revised Statutes 39:74
- Deficit: means the excess for any fiscal year of actual expenditures paid by warrant or transfer over the actual monies received and any monies or balances carried forward for any fund at the close of the fiscal year as such are reported by the office of statewide reporting within the division of administration. See Louisiana Revised Statutes 39:2
A. If the state treasurer and the commissioner of administration determine that the projected cash balance of monies available to pay appropriations is insufficient to pay anticipated warrants for appropriations in any month, they shall notify the governor and the Joint Legislative Committee on the Budget.
B. Upon receiving notification, the governor may direct the commissioner of administration to reduce or disapprove warrants in such a way as to prevent a cash deficit.
C. The state treasurer shall not honor warrants drawn upon the state treasury in excess of the amount approved by the commissioner of administration under the provisions of this Section.
Acts 1989, No. 836, §1, eff. July 1, 1989.