Previous PageTable Of ContentsNext Page

PUBLIC LAWS OF MAINE
First Regular Session of the 121st

PART F

     Sec. F-1. 5 MRSA §1541, sub-§10-A is enacted to read:

     10-A. Internal control standards. To implement the following internal control standards that define the minimum level of quality acceptable for internal control systems in operation throughout the various state agencies and departments and constitute the criteria against which such internal control systems must be evaluated by the State Controller. Internal control systems for the various state agencies and departments must be developed in accordance with the following internal control guidelines established by the State Controller.

     Sec. F-2. 5 MRSA §1547, sub-§7 is enacted to read:

     7. Other related organizations. All legislatively created public instrumentalities and related organizations for which the State is financially accountable or that have a significant relationship with the State as defined by a governmental accounting standards board that are not included in subsection 3, including but not limited to eligible institutions as defined in section 13103, that receive funds from bond issues must comply with the fiscal reporting policies established by the State Controller. The fiscal and reporting policies must include:

Legislatively created public instrumentalities and other related organizations required to comply under this subsection who must also comply with the federal Office of Management and Budget circulars, regulations issued by a governmental accounting standards board or other accounting, auditing and reporting requirements may submit that information to the State Controller to satisfy the requirements of this subsection.

     Sec. F-3. Transition. State agencies and departments must be in compliance with the Maine Revised Statutes, Title 5, section 1541, subsection 10-A by June 30, 2004.

     Sec. F-4. Department of Administrative and Financial Services; lease-purchase authorization. Pursuant to the Maine Revised Statutes, Title 5, section 1587, the Department of Administrative and Financial Services, Bureau of Information Services, in cooperation with the Treasurer of State, may enter into financing arrangements in fiscal year 2003-04 and fiscal year 2004-05 for the acquisition of hardware, software and systems to support the operations of State Government. The financing agreements may not exceed $3,000,000 in total for the biennium and each agreement must be for a term not to exceed 3 years in duration. The interest rate may not exceed 7% and total interest cost may not exceed $340,000. The annual principal and interest must be paid from the appropriate line category allocations in the Bureau of Information Services Internal Service Fund account.

Revisor of Statutes Homepage Subject Index Search 121st Laws of Maine Maine Legislature

About the 2003 Laws Of Maine

Previous PageTop Of PageTable Of ContentsNext Page

Office of the Revisor of Statutes
State House, Room 108
Augusta, Maine 04333

Contact the Office of the Revisor of Statutes