|Posted:||September 22, 2017 03:07 PM|
|From:||Representative Seth M. Grove|
|To:||All House members|
|Subject:||Commonwealth Financial Watch Program|
|In the near future I will be introducing legislation creating a Financial Watch Program under the Office of the Treasurer.
This Financial Watch Program will require the Treasurer to create an online analysis of all approved appropriations and designate each one as: Under Budget, On Budget, or Over Budget.
If an appropriation, through an analysis of the historical spending levels, is deemed over budget, the Treasurer shall notify the Governor and the General Assembly. The Governor is then required with in 20 days to develop a corrective action plan. If the corrective action plan does not bring the program under budget with in 60 days, the Treasurer is required to withhold funding for that program, until it is under budget. The House and Senate Appropriations Committees are also required to hold hearings on the corrective action plan.
Please join me in sponsoring this simple financial transparency legislation which will ensure our budgets will operate with in our approved appropriations.
Introduced as HB1843