CA AB1487

Requires the Controller to submit a "budgetary-legal basis annual report" accounting for prior year adjustments, fund balances, encumbrances, deferred payroll, revenues, and expenditures on the same basis as the Governor's Budget and Budget Act, beginning with the 2013-14 fiscal year.

Mandates state agencies prepare and maintain financial and accounting data according to methods and directives issued by the Department of Finance, with the Department implementing annual reconciliation procedures for General Fund and special fund balances.

Requires the Controller to post annual financial reports on the Internet and permits charging reasonable fees for printed copies, not to exceed costs.

Exempts Department of Finance regulations, budget letters, and directives issued under this bill from Administrative Procedure Act rulemaking requirements.

Appropriates $1,000 from the General Fund to the Department of Finance to implement the bill's provisions.