Louisiana § RS 39:80 - Fiscal reporting

§ RS 39:80. Fiscal reporting

            A. Within six months after the close of each fiscal year, the commissioner of administration shall cause to be prepared an annual comprehensive financial report containing those financial statements, including notes thereto, which are necessary for a fair presentation of the financial position and results of operations of the state in conformity with generally accepted accounting principles.

            B.(1) At the same time as the annual comprehensive financial report is prepared as provided in Subsection A of this Section, the commissioner of administration shall cause to be prepared a narrative report covering the same fiscal year as the annual comprehensive financial report being prepared and explaining the financial condition and the operations of the state for the fiscal year covered. The narrative report shall be prepared with the express purpose of providing a brief, objective, and easily understood analysis of state government's financial performance for the preceding year, as well as facilitating wide dissemination of the report to the public. The narrative report shall include but not be limited to the following:

            (a) Graphics, charts, and other visual presentations.

            (b) Information comparing revenues and expenditures.

            (c) An assessment of the state's financial position relative to the previous fiscal year.

            (d) Information as to use of resources in accordance with the legally adopted budget.

            (e) Information to assist users in assessing the service efforts, costs, and performance of the state.

            (2) By December thirty-first of each year, the commissioner of administration shall prepare a reasonable number of printed copies of the narrative report for public distribution. Additionally, he shall cause to be prepared copies of the narrative report for public distribution through other media, including electronic media, in a manner as he shall prescribe to meet the goal of wide public dissemination.

            Acts 1989, No. 836, §1, eff. July 1, 1989; Acts 1999, No. 918, §1, eff. June 30, 1999; Acts 2005, 1st Ex. Sess., No. 2, §§1, 2, eff. Nov. 18, 2005; Acts 2022, No. 369, §2, eff. June 10, 2022.