Secretary of Finance (190)

Authority: Title 2.2, Chapter 2, Article 5; §2.2-201, Code of Virginia.

A. The Secretary of Finance, in consultation with other affected secretaries, is hereby authorized to order the State Comptroller to transfer to the general fund a reasonable sum, as determined by the State Comptroller, from annual charges of internal service funds and enterprise funds that exceed the cost of providing services or that represent over-recoveries from the general fund.

B. Following every General Assembly session, the financial plan in place required by § 2.2-1503.1, Code of Virginia, shall be updated to reflect policy changes or budget actions adopted by the General Assembly that would alter financial assumptions included in the plan.  The revised financial plan shall be posted on the Department of Planning and Budget website no later than September 1 of each year.

C.1. The Secretary of Finance and the Secretary of Administration shall convene a work group to consist of representatives from the Department of Accounts, the Department of General Services, and the Department of the Treasury to evaluate options for improving the efficiency and accuracy of the Commonwealth’s current method of collecting and maintaining state property data. The evaluation shall include, but not be limited to, options for consolidating state property management information systems in production at the Department of Accounts, Department of General Services, and the Department of Treasury into a centralized information system solution, designating the appropriate agency to maintain and administer a centralized  state property information system, identifying the costs associated with the implementation of a selected system solution, and identifying costs to administer and maintain the system as well as any savings that may be realized by each agency currently maintaining a legacy application.  In conducting this evaluation, the Chief Information Officer of the Commonwealth shall determine if the proposed solution is an enterprise project as defined in § 2.2-2006, Code of Virginia.

2. The Department of the Treasury may use up to $30,000 the first year from the State Insurance Reserve Trust Fund for third party costs associated with paragraph C.1.

3. The work-group shall report its findings and recommendations to the Director, Department of Planning and Budget, the Governor, and the Chairmen of the House Appropriations and Senate Finance Committees no later than October 1, 2014.