HB 2667 Summary

• Defines "noncustodial federal monies" as block grants, revenue sharing funds, or federal monies that give the state broad spending authority or are required matches for federally mandated programs.

• Excludes from this definition federal monies awarded to universities, the Arizona board of regents, the department of emergency and military affairs, and school districts or community colleges.

• Requires all noncustodial federal monies received by state budget units to be accounted for in separate accounts or funds as needed for accounting, budgetary, and auditing requirements.

• Establishes that the legislature retains authority to appropriate noncustodial federal monies, with budget units able to administer and spend these monies if the legislature has not made a specific appropriation.

• Provides that if federal monies received are less than appropriated, the appropriation is reduced proportionately; if federal monies exceed the appropriation, excess funds are credited to the appropriate budget unit account while total program funding remains at the legislatively designated amount.