HB25 Summary

• Requires the Alabama Department of Finance to produce monthly financial reports on the State General Fund and Education Trust Fund to increase transparency and provide advance notice of potential budget poration.

• Monthly reports must be released no later than the final day of the month following the month covered by the report and published in a prominent location on the Department of Finance website.

• Reports must include beginning fund balance, revenue forecasts by source, material adjustments to forecasts, annual total resources available, authorized expenditures, projected ending balance, year-to-date expenditures by department/agency/function, and actual revenue collections compared to prior year and current estimates.

• Revenue sources representing less than one percent of the fund total may be combined into a single category.

• Act becomes effective immediately upon passage and approval by the Governor.