07 LC 34
1189
House
Bill 874
By:
Representatives Smith of the
113th,
Hembree of the
67th,
Lewis of the
15th,
Royal of the
171st,
and Floyd of the
147th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 20-3-35 of the Official Code of Georgia Annotated, relating
to annual reports to the Governor by the board of regents, so as to provide for
annual reports to the General Assembly; to provide for the contents of such
reports; to provide for independent audits; to provide for related matters; to
repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 20-3-35 of the Official Code of Georgia Annotated, relating to annual
reports to the Governor by the board of regents, is amended by designating the
existing language as subsection (a) and adding new subsections (b), (c), (d),
and (e) to read as follows:
"(b)
On or before September 30, 2007, and on or before September 30 of each following
year, the board of regents and all institutions of the university system shall
file with the presiding officers of each house of the General Assembly and with
the chairpersons of the Senate Appropriations Committee, the House Committee on
Appropriations, and the House Budget and Fiscal Affairs Oversight Committee a
report covering the immediately preceding fiscal year that contains the
information required by subsection (c) of this Code section.
(c)
The report required by subsection (b) of this Code section shall
contain:
(1)
A statement of the tax revenues and operating revenues received by the board of
regents or the institution during the immediately preceding fiscal
year;
(2)
A statement of the total expenditures made by the board of regents or the
institution during the immediately preceding fiscal year;
(3)
A list of all written contracts entered into by the board of regents or the
institution during the immediately preceding fiscal year which require the board
of regents or the institution to expend at any time in the aggregate more than
$50,000.00;
(4)
A list of any employment or consultant contracts, whether or not in writing,
under which the employee or consultant is to be compensated more than
$20,000.00, including direct and indirect or deferred benefits. When a person
or firm, whose salary or fee is reportable under this paragraph, shall have his
or her compensation increased at any time, the amount of such increase and the
total new rate shall be reported for the period in which the increase takes
effect. The list of contracts shall state the anticipated amount of funds to be
paid thereunder or the formula for determining such amount;
(5)
A list of the names of each person, firm, or corporation that has received from
the board of regents or the institution during the immediately preceding fiscal
year payments in excess of $20,000.00, including the amount paid to such person,
firm, or corporation during such period;
(6)
A list of consultant expenses and other professional services expenses; salaries
and expenses of full-time and part-time employees and board members; and
payments rendered by outside companies or agencies to the board of regents or
institution for any and all services. Social security numbers shall not be used
as employee identifiers in these reports; and
(7)
A list of any intellectual capital or intellectual property held as an asset of
the university system or a subsidiary of the university system.
(d)
The report required by subsection (b) of this Code section shall be in addition
to any other reports that the board of regents or other institutions of the
university system shall make to the General Assembly pursuant to other
provisions of law.
(e)
The report required by subsection (b) of this Code section shall be audited by
an independent accounting firm prior to being submitted to any members of the
General Assembly."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.