ID HCR045

Legislature encourages all state agencies and departments to implement comprehensive financial plans annually that include a spending plan, revenue plan, and cash management plan.

Spending plan should provide monthly forecasts of anticipated expenses at a detailed level and track actual fiscal year-to-date expenditures against planned amounts.

Revenue plan should provide monthly forecasts of anticipated revenues or receipts to the organization.

Cash management plan should manage agency cash balances at the fund level, account for timing of revenues and expenditures, and avoid holding excess cash beyond what is needed to support program objectives.

Financial plan is intended to help state agencies manage taxpayer funds efficiently within budgeted appropriations and improve monitoring of expenditures and cash investments.