ID S1122

Establishes legislative intent that federal funds constitute a significant portion of state expenditures and requires full transparency and planning for potential federal fund reductions to protect legislative appropriation authority.

Requires state agencies receiving or administering federal funds to provide annual reports to the Division of Financial Management detailing federal funds received, funds to be utilized, and any obligations or agreements that may be impacted by federal decisions, along with the percentage of federal funds to total appropriation.

Defines "federal funds" as any financial assistance from the United States government or its agencies, whether in the form of contracts, grants, subsidies, augmentations, reimbursements, or any other form.

Requires agencies to disclose in budget requests any known future reductions or eliminations of federal funds and develop contingency plans for operating if federal funding decreases by 10% or more.

Adds a fourth part to the executive budget document consisting of federal funding reports and disclosures, and requires the Division of Financial Management to report compiled federal funding information to the joint legislative appropriations committee by January 15 annually.