ID S1344

Requires any state agency receiving, anticipating receipt of, or administering federal funds to provide reports on federal fund usage as part of annual budget requests to the division of financial management.

Exempts postsecondary educational institutions from standard reporting requirements; instead they must submit audited schedules of federal award expenditures to the state board of education, which consolidates and submits to the division of financial management.

Mandates all other agencies report on federal funds received in the preceding year, federal funds to be utilized in current and upcoming fiscal years, expiration dates, and any agreements that may be impacted by federal or state decisions regarding federal receipts.

Requires agencies to calculate the percentage that federal funds constitute of their total appropriation for the fiscal year.

Requires agencies receiving notice of a 50% or greater reduction in federal grant funding to develop a plan either reducing/eliminating services or continuing services without shifting costs to state resources, included in their required report.