HB243

Pennsylvania HB243 amends budget procedures to require seven-year financial statements for all active Commonwealth funds.

Pennsylvania HB243 amends the Commonwealth's budget procedures by adding a requirement for seven-year financial statements in the budget submission to the General Assembly. These statements must cover the actual accounting for the previous fiscal year, the available accounting for the current fiscal year, the proposed budget for the next fiscal year, and estimated accounting for the four subsequent fiscal years. This change affects all active Commonwealth funds, including special funds managed by boards, commissions, and officers. The act will take effect 60 days after enactment.