CA AB1887

Rename Senate and Assembly "Contingent Operating Funds" to "Operating Funds" and limit appropriations to one-year availability instead of continuous availability across fiscal years.

Require unexpended balances from legislative operating funds to be transferred to the General Fund after one year, then appropriated to the Student Aid Commission for the Cal Grant program.

Restrict legislative operating fund expenditures to legislative purposes only and prohibit transfers to state agencies unless expressly authorized by statute.

Require the State Controller to conduct independent audits of all legislative funds and entities for fiscal years 2012-13 and 2013-14; thereafter the Joint Rules Committee contracts for audits following Controller-established guidelines.

Maintain audit completion deadline of November 30 each year for the previous fiscal year and continue evaluation of specific expenditure categories including travel, salaries, equipment, and meals.