Revise inter-entity loan process

Federal special revenue funds are now explicitly permitted to have a negative cash balance if they will be reimbursed for federal expenditures.

Loans between specific university funds must now bear interest at a rate equivalent to the state's short-term investment pool returns.

Reporting requirements for accounting entities with negative cash balances were expanded to include solvency analysis and corrective plans.

The allowable duration for a negative cash balance in state funds was reduced from 7 calendar days to 7 working days.

Transactions are now blocked in the statewide system if a fund's negative cash balance persists for more than 7 working days.

The bill number was changed from HB 61 to HB 61.1, and the title was updated to reflect the Department of Administration as a sponsor.

The exception allowing negative cash balances was extended to federal special revenue funds, permitting them to go negative if reimbursed by federal funds.

Reporting requirements for university funds with negative balances were clarified to require an explanation, solvency analysis, and a plan to address the issue.

Federal special revenue funds are now explicitly permitted to have a negative cash balance at fiscal year-end if they are expected to be reimbursed by the federal government.

New reporting requirements were added for accounting entities in funds designated under 17-2-102(4) that have a negative cash balance for two consecutive fiscal years.

The rules for temporary loans between government entities were revised to clarify interest rates and repayment terms for specific fund types.

The bill text was restructured and renumbered to align with the enrolled version, incorporating substantive amendments to the code.

Added a rule that transactions cannot be processed in the statewide accounting system if a fund or subfund maintains a negative cash balance for more than seven working days.

Updated the bill identifier from LC 0273 to HB 61.1 and changed the header to reflect the Authorized Print Version.