MS SB2778

Amends the definition of "state money" to specify funds in the State General Fund, Budget Contingency Fund, Education Enhancement Fund, Tobacco Control Program Fund, and other special funds designated by the Joint Legislative Budget Committee, excluding contributions or donations.

Requires the Department of Finance and Administration to prepare written agreements between state agencies and recipient entities receiving pass-through funding, with disbursements contingent on signed agreements and quarterly reporting compliance.

Changes reporting requirements from annual (by December 31) to quarterly submissions on dates determined by the Department of Finance and Administration, with a final itemized report when all state money is spent.

Transfers responsibility for collecting pass-through expenditure reports from individual state agencies to the Department of Finance and Administration's Office of Budget and Fund Management, which must consolidate and submit a report to the Joint Legislative Budget Committee by October 1 each year.

Maintains exemptions for pass-through funding issued through competitive processes, statutory formulas, state programs with statutory guidance, the Mississippi Accountability and Adequate Education Program Act, or specific legislative exemptions.