Print Friendly HOUSE BILL NO. 511 – Canola/Rapeseed Comm, funds
HOUSE BILL NO. 511
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H0511...............................................by AGRICULTURAL AFFAIRS
CANOLA/RAPESEED COMMISSION - Amends existing law to revise provisions
relating to the disbursement of funds from accounts of the Idaho Canola and
01/31 House intro - 1st rdg - to printing
02/01 Rpt prt - to Agric Aff
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-eighth Legislature Second Regular Session - 2006
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 511
BY AGRICULTURAL AFFAIRS COMMITTEE
1 AN ACT
2 RELATING TO THE IDAHO CANOLA AND RAPESEED COMMISSION; AMENDING SECTION
3 22-4720, IDAHO CODE, TO REVISE PROVISIONS RELATING TO THE DISBURSEMENT OF
4 FUNDS FROM ACCOUNTS OF THE IDAHO CANOLA AND RAPESEED COMMISSION.
5 Be It Enacted by the Legislature of the State of Idaho:
6 SECTION 1. That Section 22-4720, Idaho Code, be, and the same is hereby
7 amended to read as follows:
8 22-4720. DEPOSITS AND DISBURSEMENT OF FUNDS. (1) Immediately upon
9 receipt, all moneys received by the commission shall be deposited in one (1)
10 or more separate accounts in the name of the commission in one (1) or more
11 banks or trust companies approved under chapter 27, title 67, Idaho Code, as
12 state depositories. The commission shall designate the banks or trust compa-
13 nies. All funds so deposited are hereby continuously appropriated for the pur-
14 pose of carrying out the provisions of this chapter.
15 (2) Funds can be withdrawn or paid out of such accounts only upon checks
16 or other orders upon such accounts signed by two (2) an officer s designated by
17 the commission.
18 (3) On or before January 15 of each year, the commission shall file with
19 the senate agricultural affairs committee, the house agricultural affairs com-
20 mittee, the legislative council, the state controller, and the division of
21 financial management, a report showing the annual income and expenses by stan-
22 dard classification of the commission during the preceding fiscal year. The
23 report shall also include an estimate of income to the commission for the cur-
24 rent and next fiscal year. From and after January 15, 1999, the report shall
25 also include a reconciliation between the estimated income and expenses pro-
26 jected and the actual income and expenses of the preceding fiscal year.
27 (4) All moneys received or expended by the commission shall be audited
28 every second year, but shall address each year separately, by a certified pub-
29 lic accountant designated by the commission, who shall furnish a copy of the
30 audit to the director of legislative services and to the senate agricultural
31 affairs committee and the house agricultural affairs committee. The audit
32 shall be completed within ninety (90) days following the close of the fiscal
33 year. The right is reserved to the state of Idaho to audit the funds of the
34 commission at any time.
35 (5) The expenditures of the commission are expressly exempted from the
36 provisions of sections 67-2007 and 67-2008, Idaho Code.
STATEMENT OF PURPOSE
Legislative auditors have indicated that it is no longer
necessary for small commodity commissions to require two (2)
signatures on checking accounts. These accounts are audited
every two years with the state reserving the right to audit the
funds at any time. The audits will address each year separately.
In some instances, members of the commissions are some distance
apart and it is difficult to obtain two (2) signatures.
There is no impact to the general fund.
Name: Rep. Darrell Bolz
Phone: (208) 332-1000
STATEMENT OF PURPOSE/FISCAL NOTE H 511