R.I. Gen. Laws § 35-23-9 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-9
§ 35-23-9. Employer participation.
Status: in_force

(a) After the office of the general treasurer opens the RISavers retirement savings program for enrollment, eligible employers shall have a payroll deposit retirement savings arrangement to allow employee participation in the program under the terms and conditions prescribed by the office of the general treasurer.

(b) Within twelve (12) months after the office of the general treasurer opens the program for enrollment, eligible employers with more than one hundred (100) eligible employees and that do not offer a retirement savings program pursuant to subsection (g) of this section shall have a payroll deposit retirement savings arrangement to allow employee participation in the program.

(c) Within twenty-four (24) months after the office of the general treasurer opens the program for enrollment, eligible employers with more than fifty (50) eligible employees and that do not offer a retirement savings program pursuant to subsection (g) of this section shall have a payroll deposit retirement savings arrangement to allow employee participation in the program.

(d) Within thirty-six (36) months after the office of the general treasurer opens the program for enrollment, all other eligible employers that do not offer a retirement savings program pursuant to subsection (g) of this section shall have a payroll deposit retirement savings arrangement to allow employee participation in the program.

(e) The office of the general treasurer, in its discretion, may extend the time limits defined in subsections (b) through (d) of this section.

(f)(1) Each eligible employee shall be enrolled in the program unless the employee elects not to participate in the program. An eligible employee may elect to opt out of the program at any time by making a notation on the opt-out form.

(2) Following initial implementation of the program pursuant to this section, at least once every year, the office of the general treasurer shall designate an open enrollment period during which eligible employees that previously opted-out of the program may enroll in the program.

(3) An employee who elects to opt out of the program who subsequently elects to participate through the employers payroll deposit retirement savings arrangement may enroll at any time.

(g)(1) An employer that provides an employer-sponsored retirement plan, such as a defined benefit plan or a 401(k), 403(b), 457(b), simplified employee pension (SEP) plan, or savings incentive match plan for employees (SIMPLE) plan, or that offers an automatic enrollment payroll deduction IRA, shall be exempt from the requirements of the RISavers retirement savings program, if the plan or IRA qualifies for favorable federal income tax treatment under the federal Internal Revenue Code.

(2) An employer shall retain the option at all times to set up and offer a tax-qualified retirement plan, instead of facilitating employee participation in the RISavers retirement savings program.

(h)(1) Following initial implementation of the program pursuant to this section, and at least once every year, the general treasurer shall designate an open enrollment period during which optional employers may enroll in the program.

(2) An optional employer that enrolls in the program may elect to opt out of the program upon thirty (30) days notice provided to employees and to the office of the general treasurer.

(i) By regulation, the office of the general treasurer may set a default contribution rate, unless otherwise specified by the employee. Employees shall have the ability to change their contribution rate at any time with thirty (30) days notice provided to the office of the general treasurer.
R.I. Gen. Laws § 35-3-14 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-14
§ 35-3-14. Receipts credited to general fund  Credit of special receipts to specific appropriations  Fees of attorneys for collection of taxes.
Status: in_force

(a) Except as otherwise provided, all revenues of the state, with the exception of funds either exempted in the constitution or held in trust, shall be credited to the general fund, subject to appropriations for all operating expenditures of the state.

(b) The governor and the director of administration, upon the petition of the public works division of the department of transportation, may credit the appropriation accounts of the division, under the proper code designations, with the portions of specific receipts of the division deposited by it with the general treasurer; being sums of money derived from the sale of materials or sums of money received from the various cities and towns for highway work or sums of money received from private sources for highway work, as in the judgment of the director of administration are necessary to prevent a depletion of the specific appropriation account under the code designation.

(c) The state controller may credit the appropriation accounts of the general fund or any special funds of the state with the receipts from the sale of salvage or surplus items of value when the receipts are the direct result of the activity for which the account or fund is established, unless disposition of the receipts is otherwise provided for by law.

(d) Where the director of administration determines that he or she shall engage attorneys to collect delinquent taxes for the tax administrator, authorization to so engage being confirmed hereby, and enters into a written agreement with the attorneys to compensate them on a fee basis for services which they render in effecting the collections, the director is further authorized to permit the attorneys to first deduct the agreed amount of the fee or fees from the amount of collections effected by them, which amount, less the agreed amount of the fee or fees, shall be remitted by the attorneys to the tax administrator within thirty (30) days, and after the deductions, all the remittances shall be credited to the general fund.
R.I. Gen. Laws § 35-23-16 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-16
§ 35-23-16. Rules and regulations.
Status: in_force

The office of the general treasurer may adopt rules and regulations to implement this chapter.
R.I. Gen. Laws § 35-4-15 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-15
§ 35-4-15. Federal reduction relief fund  Replenishment of fund.
Status: in_force

The general assembly may from time to time appropriate monies to replenish the federal reduction relief fund.
R.I. Gen. Laws § 35-6-19 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-19
§ 35-6-19. Records of orders and vouchers  Destruction of obsolete vouchers.
Status: in_force

The state controller shall keep a record of all orders drawn by him or her for the payment of money out of the state treasury, which record shall show, as to each order, the date issued, the identification number thereof, the name of the person in whose favor drawn, the amount, and the appropriation chargeable with the same. The state controller shall keep, as part of the records of his or her office, a numerical file, in order of payment, and by years, of all vouchers received by him or her, in support of payments required to be made from the state treasury, and shall retain the same for a period of ten (10) years from the date of payment. The state controller is authorized and empowered to destroy all vouchers that have been retained for a period of ten (10) years or more, by burning them, provided that he or she shall first permit the state librarian to remove any vouchers having historical value for preservation in the state archives.
R.I. Gen. Laws § 35-4-4.5 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-4.5
§ 35-4-4.5. State Linked Deposit Policy  Enforcement.
Status: in_force

The general treasurer shall have the responsibility for monitoring and enforcing the provisions of §§ 35-4-4.1  35-4-4.6. Each institution shall be required to file its latest public disclosure of its CRA performance evaluation with the general treasurer by November 30 of each year.
R.I. Gen. Laws § 35-20-10 — RI Code / Title 35 / Chapter 35-20 / Section 35-20-10
§ 35-20-10. Personal use of public corporation credit cards prohibited.
Status: in_force

(a) It is unlawful for any employee of a public corporation, as defined in § 35-20-5(4), or his or her designee, to use or permit others to use corporation issued credit cards for personal use.

(b) For purposes of this section, Personal use means any use the purpose of which is for personal enjoyment, private gain or advantage, or an outside endeavor not related to the business of the public corporation.

(c) Any person who violates this section is liable for a civil penalty equal to three times the value of the unlawful use plus an amount not to exceed ten thousand dollars ($10,000). The penalty shall be assessed and recovered in a civil action brought in the name of the people of the state of Rhode Island by the attorney general. If two (2) or more persons are responsible for any violation, they are jointly and severally liable for the penalty. If the action is brought by the attorney general, the moneys recovered shall be paid into the general fund. Nothing in this section prevents the attorney general from pursuing criminal charges against any person who violates this section.
R.I. Gen. Laws § 35-16-7 — RI Code / Title 35 / Chapter 35-16 / Section 35-16-7
§ 35-16-7. Two year budget cycle study.
Status: in_force

The budget office, the house fiscal advisor, and the senate fiscal advisor along with the house and senate fiscal staff and legal counsel shall study the feasibility and benefits of adopting a two (2) year budget cycle, and shall report in writing to the governor, the speaker of the house of representatives, and the president of the senate on or before January 2, 1994. The report shall address not only the benefits, if any, but also any disadvantages and/or legal impediments, constitutional and/or statutory, to adopting such a budget cycle.
R.I. Gen. Laws § 35-23-8 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-8
§ 35-23-8. Disclosure of information.
Status: in_force

(a) Prior to opening the RISavers retirement savings program for enrollment, the office of the general treasurer shall design and disseminate to employers an employee information packet that shall also be made available in an electronic format. The packet shall include background information on the program and appropriate disclosures for employees.

(b) The disclosure form shall include, but not be limited to, all of the following:

(1) The benefits and risks associated with making contributions to the program;

(2) The mechanics of how to make contributions to the program;

(3) How to opt out of the program;

(4) The process for withdrawal of retirement savings; and

(5) How to obtain additional information on the program.

(c) In addition, the disclosure form shall clearly articulate the following:

(1) Employees seeking financial advice should contact financial advisors in that employers do not provide financial advice, that employees are not to contact their employers for financial advice, and that employers are not liable for employee investment decisions;

(2) This retirement program is not sponsored by the employer, and therefore, the employer is not responsible for the program or liable as a program sponsor; and

(3) The program fund is not guaranteed by the state.

(d) The disclosure form shall include a method for the employee to acknowledge that the employee has read all of the disclosures and understands their content.

(e) The employee information packet shall also include an opt-out form for an eligible employee to note their decision to opt out of participation in the program. The opt-out form shall be simple and concise and drafted in a manner that the office of the general treasurer deems necessary to appropriately evidence the employees understanding that they are choosing not to automatically deduct earnings to save for retirement.

(f) The employee information packet with the disclosure and opt-out forms shall be made available to eligible employees by the RISavers retirement savings program and supplied to employees no later than one hundred twenty (120) days after hiring. All new employees shall review the packet and acknowledge having received it.

(g) The employee information packet with the disclosure and opt-out forms shall be supplied to existing employees when the program is initially launched for a participating employer.
R.I. Gen. Laws § 35-3-7.1 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-7.1
§ 35-3-7.1. Biennial capital development program.
Status: in_force

(a) Biennially, for presentation to the voters at the next general election, a comprehensive plan detailing the capital goods and services required in the upcoming two (2) year period will be presented.

(b) The plan shall also include consideration of the current capital indebtedness and the proposed capital requirements for all independent authorities created under and by the laws of this state.

(c) All capital referenda will be presented to the voters at a general election, except, upon a finding of compelling need for the public health, safety, or welfare, the general assembly may present the capital program at a time other than the general election.
R.I. Gen. Laws § 35-3-4 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-4
§ 35-3-4. Estimates submitted by department heads.
Status: repealed

(a) On dates determined by the budget officer, but not later than the first day of October in each year, each head of a department of the state government, not including the general assembly or the judiciary, shall assemble, correlate, and revise, with power to increase or decrease, the estimates for expenditures and requests for appropriations for the next ensuing fiscal year of each of the divisions, boards, commissions, officers, bureaus, institutions, or agencies of the state included within his or her department, and, after this revision, shall prepare an itemized departmental estimate of the appropriations necessary to meet the financial needs of the department, including a statement in detail of all moneys for which any general or special appropriation is desired at the ensuing session of the general assembly. The estimate shall be in such form, and in such number of copies, and with such explanation as the budget officer may require, and, on dates determined by the budget officer, but not later than the first day of October in each year, shall be submitted to the governor through the budget officer and to the fiscal advisors of the house and senate.

(b) The estimates shall also include a supplemental presentation of estimates of expenditures for information resources and information technologies as defined in § 29-8-2 [repealed], regardless of source of financing. The estimate shall include a detailed listing and explanation of expenses and the source of funds and shall be in such form, and in such number of copies, and with such explanation as the budget officer may require. Copies shall be provided directly to the house fiscal advisor, the senate fiscal advisor, and the Rhode Island information resources management board.
R.I. Gen. Laws § 35-24-9 — RI Code / Title 35 / Chapter 35-24 / Section 35-24-9
§ 35-24-9. Implementation.
Status: in_force

The general treasurers duty to implement this chapter is contingent upon availability of public or private funds the general treasurer deems sufficient to administer the trust consistent with the provisions of § 35-24-8.
R.I. Gen. Laws § 35-3-17.1 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-17.1
§ 35-3-17.1. Financial statements required from state departments, agencies, and instrumentalities.
Status: in_force

The several state departments, agencies, and public authorities and corporations shall submit to the fiscal advisors of the house and senate, statements of financial conditions and operations within thirty (30) days of the close of each of the first three (3) fiscal quarters of each year. The statements shall include, at a minimum:

(1) Account numbers;

(2) Allotments;

(3) Expenditures to-date;

(4) Estimated expenditures to complete the fiscal year;

(5) Surplus or deficiency projections; and

(6) Progress on any corrective action plans per the most recent annual findings of the auditor general.
R.I. Gen. Laws § 35-12-15 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-15
§ 35-12-15. Sale of accounts.
Status: in_force

Notwithstanding the provisions of any other statute to the contrary, the president of the university is authorized and empowered to sell accounts to the corporation for such consideration and upon such terms and conditions as the president shall approve.
R.I. Gen. Laws § 35-24-2 — RI Code / Title 35 / Chapter 35-24 / Section 35-24-2
§ 35-24-2. Establishment.
Status: in_force

(a) There is hereby established the Rhode Island baby bond trust. The trust shall constitute an instrumentality of the state and shall perform essential governmental functions as provided under the provisions of this chapter. The trust shall receive and hold all payments and deposits or contributions intended for the trust, as well as gifts, bequests, endowments, or federal, state, or local grants and any other funds from any public or private source and all earnings until disbursed in accordance with § 35-24-7.

(b) The amounts on deposit in the trust shall not constitute property of the state and the trust shall not be construed to be a department, institution, or agency of the state. Amounts on deposit in the trust shall not be commingled with state funds and the state shall have no claim to or against, or interest in, such funds. Any contract entered into by, or any obligation of, the trust shall not constitute a debt or obligation of the state and the state shall have no obligation to any designated beneficiary or any other person on account of the trust and all amounts obligated to be paid from the trust shall be limited to amounts available for such obligation on deposit in the trust. The amounts on deposit in the trust may only be disbursed in accordance with the provisions of this chapter. The trust shall continue in existence as long as it holds any deposits or has any obligations and until its existence is terminated by law. Upon termination, any unclaimed assets shall return to the state.

(c) The general treasurer shall be responsible for the receipt, maintenance, administration, investigation, and disbursements from the trust. The trust shall not receive deposits in any form other than cash.
R.I. Gen. Laws § 35-20-5 — RI Code / Title 35 / Chapter 35-20 / Section 35-20-5
§ 35-20-5. Definitions.
Status: in_force

As used in this chapter:

(1) Controller means the state controller of Rhode Island.

(2) Director means the director of administration.

(3) Governor means the governor of Rhode Island.

(4) Public corporation means any body corporate and politic created or to be created pursuant to statute, including, without limitation, the Rhode Island industrial recreational building authority, the Rhode Island economic development corporation and any subsidiaries thereof, the Rhode Island industrial facilities corporation, the Rhode Island refunding bond authority, the Rhode Island health and educational building authority, the board of governors for higher education, the Rhode Island housing and mortgage finance corporation, the Rhode Island resource recovery corporation, the Rhode Island public transit authority, the Rhode Island student loan authority, the water resources board corporate, the Narragansett Bay water quality management district commission, the Rhode Island health and educational building corporation, the Rhode Island depositors economic protection corporation, the Rhode Island convention center authority, the Rhode Island turnpike and bridge authority, their successors and assigns. Cities, towns, and any corporation created by a city or town pursuant to statute, and fire and water districts, are not public corporations under this chapter.
R.I. Gen. Laws § 35-7-14 — RI Code / Title 35 / Chapter 35-7 / Section 35-7-14
§ 35-7-14. Travel and entertainment expenses of quasi-public agencies.
Status: in_force

Quasi-public agencies, as set forth in § 35-7-13, shall prepare and maintain documentation for all travel and entertainment expenses in sufficient detail to allow for post audit.
R.I. Gen. Laws § 35-12-8 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-8
§ 35-12-8. Notes of the corporation.
Status: reserved

(a) The corporation shall have the power and is authorized to issue from time to time negotiable notes in one or more series, in such principal amounts as in the opinion of the corporation shall be necessary to provide sufficient funds for achieving its purposes, including:

(1) Payment of interest on notes of the corporation;

(2) Establishment of reserves to secure these notes; and

(3) Making of all other expenditures of the corporation incident to and necessary or convenient to carrying out its corporate purposes and powers.

(b) All notes issued by the corporation may be secured by the full faith and credit of the corporation, or may be payable solely out of revenues and receipts derived from the pledge or assignment of, grant of security interest in, or sale of, accounts owned by it or any part thereof, or upon investment earnings of any of these revenues, receipts, proceeds, or payments, or upon any other form of security available to the corporation for that purpose, all as may be designated in the proceedings of the corporation under which the notes shall be authorized to be issued. The notes may be executed and delivered by the corporation at any time or from time to time, may be in such form and denominations and of such tenor and maturities, and may be in bearer form or in registered form, as to principal and interest or as to principal alone, all as the corporation may determine.

(c) Notes and any renewals thereof may be payable in such installments and at such times, not exceeding six (6) months from the date of the original issue of the notes, as shall be determined by the corporation.

(d) Notes may be payable at such places, whether within or without the state, may bear interest at such rate or rates payable at such time or times and at such place or places and evidenced in such manner, and may contain such provisions not inconsistent herewith, all as shall be provided in the proceedings of the corporation under which they shall be authorized to be issued.

(e) There may be retained by provisions made in the proceedings under which any notes of the corporation are authorized to be issued an option to redeem all or any part thereof, at the prices and upon such notice, and on such further terms and conditions, as shall be set forth on the record of the proceedings and on the face of the notes.

(f) Moneys of the corporation, including without limitation revenues, receipts, proceeds, payments, or earnings listed in subsection (b), may be invested and reinvested in such obligations, securities, and other investments consistent with the purposes of this chapter as shall be specified in the resolutions under which the notes are authorized.

(g) Issuance by the corporation of one or more series of notes for one or more purposes shall not preclude it from issuing other notes for the same purpose or purposes, but the proceedings whereunder any subsequent notes may be issued shall recognize and protect a prior pledge made for a prior issue of notes unless in the proceedings authorizing the prior issue the right is reserved to issue subsequent notes on a parity with the prior issue.

(h) The members of the corporation shall not be subject to personal liability or accountability by reason of the issue of notes under this chapter.

(i) Notes may be issued under the provisions of this chapter without obtaining the consent of any department, division, commission, board, body, bureau, or agency of the state, and without any other proceedings, conditions, or things other than those proceedings, conditions, or things which are specifically required by this chapter and by the provisions of the resolution authorizing the issuance of the notes or the trust agreement securing the same.

(j) Whether or not the notes are of such form and character as to be negotiable instruments under the terms of the Uniform Commercial Code, title 6A, the notes are hereby made negotiable instruments within the meaning of and for all the purposes of the Uniform Commercial Code, subject only to the provisions of the notes for registration.

(k) If a member of the corporation whose signature appears on the notes or coupons shall cease to be a member before the delivery of the notes, the members signature shall, nevertheless, be valid and sufficient for all purposes, as if the member had remained in office until the delivery.
R.I. Gen. Laws § 35-5-4 — RI Code / Title 35 / Chapter 35-5 / Section 35-5-4
§ 35-5-4. Funds property of state  Withdrawal by general treasurer.
Status: in_force

All moneys deposited in any bank or trust company as rotary or rotating funds by any disbursing officer shall be held as the property of the state subject to the order of the disbursing officer depositing the money, and shall also be subject to the order of and shall be withdrawn by the general treasurer at any time upon request of the director of administration; and when so withdrawn the moneys shall be credited to the appropriation to which the moneys were originally charged.
R.I. Gen. Laws § 35-24-8 — RI Code / Title 35 / Chapter 35-24 / Section 35-24-8
§ 35-24-8. Transfer to trust upon birth of designated beneficiary.
Status: in_force

Upon the birth of a designated beneficiary, the general treasurer shall allocate three thousand dollars ($3,000) from the trust to be credited toward the accounting of such designated beneficiary pursuant to § 35-24-7.
R.I. Gen. Laws § 35-3-11 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-11
§ 35-3-11. Consideration of budget by senate.
Status: in_force

The bill, with the endorsement of the committee of the senate thereon, shall be considered by the senate in accordance with the joint rules and orders and rules of the senate, and may be amended in such manner as the senate may determine.
R.I. Gen. Laws § 35-6-1 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-1
§ 35-6-1. Controller  Duties in general.
Status: in_force

(a) Within the department of administration there shall be a controller who shall be appointed by the director of administration pursuant to chapter 4 of title 36. The controller shall be responsible for accounting and expenditure control and shall be required to:

(1) Administer a comprehensive accounting and recording system that will classify the transactions of the state departments and agencies in accordance with the budget plan;

(2) Maintain control accounts for all supplies, materials, and equipment for all departments and agencies except as otherwise provided by law;

(3) Prescribe a financial, accounting, and cost accounting system for state departments and agencies;

(4) Identify federal grant-funding opportunities to support the governors and general assemblys major policy initiatives and provide technical assistance with the application process and post-award grants management;

(5) Manage federal fiscal proposals and guidelines and serve as the state clearinghouse for the application of federal grants;

(6) Pre-audit all state receipts and expenditures;

(7) Prepare financial statements required by the several departments and agencies, by the governor, or by the general assembly;

(8) Approve the orders drawn on the general treasurer; provided, that the pre-audit of all expenditures under authority of the legislative department and the judicial department by the state controller shall be purely ministerial, concerned only with the legality of the expenditure and availability of the funds, and in no event shall the state controller interpose his or her judgment regarding the wisdom or expediency of any item or items of expenditure;

(9) Prepare and timely file, on behalf of the state, any and all reports required by the United States, including, but not limited to, the Internal Revenue Service, or required by any department or agency of the state, with respect to the state payroll; and

(10) Prepare a preliminary closing statement for each fiscal year. The controller shall forward the statement to the chairpersons of the house finance committee and the senate finance committee, with copies to the house fiscal advisor and the senate fiscal and policy advisor, by September 1 following the fiscal year ending the prior June 30 or thirty (30) days after enactment of the appropriations act, whichever is later. The report shall include but is not limited to:

(i) A report of all revenues received by the state in the completed fiscal year, together with the estimates adopted for that year as contained in the final enacted budget, and together with all deviations between estimated revenues and actual collections. The report shall also include cash collections and accrual adjustments;

(ii) A comparison of actual expenditures with each of the actual appropriations, including supplemental appropriations and other adjustments provided for in the Rhode Island general laws;

(iii) A statement of the opening and closing surplus in the general revenue account; and

(iv) A statement of the opening surplus, activity, and closing surplus in the state budget reserve and cash stabilization account and the state bond capital fund.

(b) The controller shall provide supporting information on revenues, expenditures, capital projects, and debt service upon request of the house finance committee chairperson, senate finance committee chairperson, house fiscal advisor, or senate fiscal and policy advisor.

(c) Upon issuance of the audited annual financial statement, the controller shall provide a report of the differences between the preliminary financial report and the final report as contained in the audited annual financial statement.

(d) The controller shall create a special fund not part of the general fund and shall deposit amounts equivalent to all deferred contributions under this act into that fund. Any amounts remaining in the fund on June 15, 2010, shall be transferred to the general treasurer who shall transfer such amounts into the retirement system as appropriate.

(e) Upon issuance of the audited financial statement, the controller shall transfer fifty percent (50%) of all general revenues received in the completed fiscal year net of transfer to the state budget reserve and cash stabilization account as required by § 35-3-20 in excess of those estimates adopted for that year as contained in the final enacted budget to the employees retirement system of the state of Rhode Island as defined in § 36-8-2 and fifty percent (50%) to the supplemental state budget reserve account as defined in § 35-3-20.2, except that excess revenues from fiscal years 2023 and 2024 shall not be transferred to the supplemental state budget reserve account.

(f) The controller shall implement a direct deposit payroll system for state employees.

(1) There shall be no service charge of any type paid by the state employee at any time which shall decrease the net amount of the employees salary deposited to the financial institution of the personal choice of the employee as a result of the use of direct deposit.

(2) Employees hired after September 30, 2014, shall participate in the direct deposit system. At the time the employee is hired, the employee shall identify a financial institution that will serve as a personal depository agent for the employee.

(3) No later than June 30, 2016, each employee hired before September 30, 2014, who is not a participant in the direct deposit system, shall identify a financial institution that will serve as a personal depository agent for the employee.

(4) The controller shall promulgate rules and regulations as necessary for implementation and administration of the direct deposit system, which shall include limited exceptions to required participation.

(g) The controller shall oversee the office of risk management (§ 37-11-1 et seq.)
R.I. Gen. Laws § 35-3-1 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-1
§ 35-3-1. Budget officer  General powers and duties.
Status: in_force

(a) Within the office of management and budget there shall be a budget officer who shall be appointed by the director of administration with the approval of the governor. The budget officer shall be required to:

(1) Exercise budgetary control over all state departments and agencies and perform management analyses;

(2) Operate an appropriation allotment system;

(3) Prepare the annual budget of the receipts and expenditures of the state;

(4) Develop long term activity and financial programs, particularly capital improvement programs;

(5) Approve or disapprove all requests for new personnel and to investigate periodically the need of all existing positions in the state service and report thereon to the director of administration; and

(6) Prepare a five (5) year financial projection of anticipated general revenue receipts and expenditures, including detail of principal revenue sources and expenditures by major program areas, which projection shall be included in the budget submitted to the general assembly pursuant to § 35-3-7.

(b) The budget officer may approve or disapprove requisitions for equipment, materials, and supplies.

(c) The budget officers duties and powers relating to budgetary controls and personnel requests of the legislative and judicial departments shall be purely ministerial, concerned only with the availability of the funds, and in no event shall the budget officer interpose his or her judgment regarding the wisdom or expediency of items of expenditure.
R.I. Gen. Laws § 35-16-6 — RI Code / Title 35 / Chapter 35-16 / Section 35-16-6
§ 35-16-6. Report of meetings.
Status: in_force

The chairperson will be the sole source of any public announcement of the results from the conference. The final report will be prepared by the chairperson and distributed to conference participants not later than five (5) working days after adjournment. The reports shall contain the following:

(1) Tables showing the values of all relevant economic and demographic indicators;

(2) A fiscal year breakdown of all general revenue receipts by source; and

(3) A comparison of actual revenue collected with the revenue projections upon which the then current budget was based.
R.I. Gen. Laws § 35-10-12 — RI Code / Title 35 / Chapter 35-10 / Section 35-10-12
§ 35-10-12. Investment in corporations doing business in South Africa.
Status: in_force

(a) It is hereby found by the general assembly that:

(1) The African national congress (ANC), led by Nelson Mandela, has called upon the international community to lift all sanctions previously imposed to censure South Africa for its apartheid policies and to apply economic pressure to leverage political and humanitarian change in that country; and

(2) South Africa has held elections in April, 1994, allowing black South Africans their first opportunity to vote in national elections.

(b) Following democratically-held elections in the Republic of South Africa, the commission and all quasi-public agencies shall be free to hold the stocks, bonds, and other forms of financial investments of any banks or publicly-traded corporations which operate in South Africa, hereby lifting the sanctions previously imposed on these investments.

(c) The commission shall encourage, through the voting of proxies with other institutional investors, United States corporations operating in the Republic of South Africa to endorse and comply with the responsible reinvestment standard set forth by the South African council of churches (SACC), known as the Code of Conduct for Businesses Operating in South Africa, which is designed to promote equal opportunity, workers rights, environmental protection, and community economic development benefitting all South Africans.
R.I. Gen. Laws § 35-20-8 — RI Code / Title 35 / Chapter 35-20 / Section 35-20-8
§ 35-20-8. Financial estimates for public corporations.
Status: in_force

Itemized estimates of the financial needs of each public corporation shall be submitted by each chairperson or chief executive officer of a public corporation to the governor through the budget officer of the department of administration. The budget officer shall also provide copies of the estimates to the house fiscal advisor and the senate fiscal advisor.
R.I. Gen. Laws § 35-6-18 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-18
§ 35-6-18. Records of unpaid checks.
Status: in_force

The state controller is authorized and empowered to make and keep, upon a book prepared for that purpose, a detailed statement or record of all checks signed by the general treasurer of the state, which may be payable on account of any appropriation made by the general assembly, which have for any reason remained unpaid for one year or more from the date that the checks were signed; and the state controller is further authorized and empowered, at the close of each fiscal year, after having made this record, to stamp all the checks in the behalf of the state, as uncalled for, and certify them to the general treasurer, who shall transfer the amount of the checks from the account of the appropriations to the general fund of the state.
R.I. Gen. Laws § 35-18-3 — RI Code / Title 35 / Chapter 35-18 / Section 35-18-3
§ 35-18-3. Approval by the general assembly.
Status: in_force

(a) No elected or appointed state official may enter into any financing lease or into any guarantee with any person without the prior approval of the general assembly unless:

(1) The governor certifies that federal funds will be available to make all of the payments which the state is or could be obligated to make under the financing lease or guarantee; or

(2) The general assembly has adjourned for the year with the expectation that it will not meet again until the following year and the governor certifies that action is necessary, because of events occurring after the general assembly has adjourned, to protect the physical integrity of an essential public facility, to ensure the continued delivery of essential public services, or to maintain the credit worthiness of the state in the financial markets.

(b) No bonds may be issued or other obligation incurred by any public corporation to finance, in whole or in part, the construction, acquisition, or improvement of any essential public facility without the prior approval of the general assembly, unless:

(1) The governor certifies that federal funds will be available to make all of the payments required to be made by the public corporation in connection with the bond or obligation. The certification shall be transmitted to the speaker of the house and the president of the senate with copies to the chairpersons of the respective finance committees and fiscal advisors; or

(2) The general assembly has adjourned for the year with the expectation that it will not meet again until the following year and the governor certifies that action is necessary, because of events occurring after the general assembly has adjourned, to protect the physical integrity of an essential public facility, to ensure the continued delivery of essential public services, or to maintain the credit worthiness of the state in the financial markets. The certification shall be transmitted to the speaker of the house and the president of the senate, with copies to the chairpersons of the respective finance committees and fiscal advisors.

(c) In addition to, and not by way of limitation on, the exemptions provided in subsections (a) and (b), prior approval by the general assembly shall not be required under this chapter for bonds or other obligations issued by, or financing leases or guarantee agreements entered into by:

(1) The Rhode Island Industrial Facilities Corporation; provided financing leases, bonds or other obligations are being issued for an economic development project;

(2) The Rhode Island infrastructure bank;

(3) The Rhode Island housing and mortgage finance corporation;

(4) The Rhode Island student loan authority;

(5) Any public corporation to refund any bond or other obligation issued by the public corporation to finance the acquisition, construction, or improvement of an essential public facility provided that the governor certifies to the speaker of the house and the president of the senate, with copies to the chairpersons of the respective finance committees and fiscal advisors that the refunding shall provide a net benefit to the issuer; provided, however, obligations of the Rhode Island resource recovery corporation outstanding on July 31, 1999, may be refunded by the issuance of obligations on or before August 1, 1999;

(6) The Narragansett Bay commission;

(7) The Rhode Island health and educational building corporation, except bonds or other obligations issued in connection with the acquisition, construction, or improvement of any facility used by any state agency, department, board, or commission, including the council on postsecondary education, to provide services to the public pursuant to the requirements of state or federal law, and all fixtures for any of those facilities; and

(8) The state to refund any financing leases entered into with the authorization of the general assembly, provided that the governor certifies to the speaker of the house and the president of the senate, with copies to the chairpersons of the respective finance committees and fiscal advisors, that the refunding shall provide a net benefit to the state.

(d) Nothing contained in this section applies to any loan authorized to be borrowed under Article VI, § 16 or 17 of the Rhode Island Constitution.

(e) Nothing in this section is intended to expand in any way the borrowing authority of any public corporation under its charter.

(f)(1) Any certification made by the governor under subsection (a), (b), or (c) of this section may be relied upon by any person, including without limitation, bond counsel.

(2) The certifications shall be transmitted to the speaker of the house and the president of the senate with copies to the chairpersons of the respective finance committees and fiscal advisors.

(g) Except as provided for in this chapter, the requirements of this chapter supersede any other special or general provision of law, including any provision which purports to exempt sales or leases between the state and a public corporation from the operation of any law.
R.I. Gen. Laws § 35-3-20.2 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-20.2
§ 35-3-20.2. Supplemental state budget reserve account.
Status: in_force

(a) There is hereby created within the general fund a supplemental state budget reserve account, which shall be administered by the state controller and which shall be used solely for the purpose of providing such sums as may be appropriated to fund any unanticipated general revenue deficit caused by a general revenue shortfall.

(b) At any time after the third quarter of a fiscal year that it is indicated that total resources which are defined to be the aggregate of estimated general revenue, general revenue receivables, and available free surplus in the general fund will be less than the estimates upon which current appropriations were based, the general assembly may make appropriations from the supplemental state budget reserve account for the difference between the estimated total resources and the original estimates upon which enacted appropriations were based, but only in the amount of the difference based upon the revenues projected at the latest state revenue estimating conference pursuant to chapter 16 of this title as reported by the chairperson of that conference.

(c) Whenever a transfer has been made pursuant to subsection (b), that transfer shall be considered as estimated general revenues for the purposes of determining the amount to be transferred to the Rhode Island capital plan fund for the purposes of § 35-3-20.1(b).

(d) The supplemental state budget reserve account shall consist of: (1) Such sums as the state may from time to time directly transfer to the account as authorized in law; and (2) Any amounts transferred pursuant to § 35-6-1(e).
R.I. Gen. Laws § 35-23-17 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-17
§ 35-23-17. Effect on benefit means test.
Status: in_force

A payroll deposit IRA arrangement offered pursuant to the RISavers retirement savings program shall have the same status as, and be treated consistently with, any other IRA for the purpose of determining eligibility or benefit level for a program that uses a means test.
R.I. Gen. Laws § 35-3-23 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-23
§ 35-3-23. Interfund transfers.
Status: in_force

(a) The governor may make an interfund transfer. Prior to making an interfund transfer the governor shall give five (5) days written notification of the proposed interfund transfer to the speaker of the house, the president of the senate, the chairperson of the house finance committee, the chairperson of the senate finance committee, the minority leader of the senate, and the minority leader of the house.

(b) An interfund transfer must comply with this section. An interfund transfer can be made under the following circumstances and on the following conditions:

(1) The governor must make the findings that:

(i) All cash in the general fund, including the payroll clearing account, has been or is about to be exhausted;

(ii) The anticipated cash expenditures exceed the anticipated cash available.

(2) The governor may make an interfund transfer to the general fund from the:

(i) Temporary disability fund created in § 28-39-4;

(ii) Intermodal surface transportation fund created in § 35-4-11; and/or

(iii) Tobacco settlement financing trust fund created in § 42-133-9.

(3) Once in each fiscal quarter from each fund the governor may make an interfund transfer. The fund(s) from which money is transferred must be made whole by June 30th in the same fiscal year as the transfer is made.

(4) The interfund transfer may be made notwithstanding the provisions of §§ 28-37-3 and 28-39-4.
R.I. Gen. Laws § 35-12-1 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-1
§ 35-12-1. Short title.
Status: in_force

This chapter shall be known as the University of Rhode Island Research Corporation Act.
R.I. Gen. Laws § 35-4-22.3 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-22.3
§ 35-4-22.3. Exceptions and exclusions to §§ 35-4-22.1 and 35-4-22.2.
Status: in_force

(a) Dedicated receipts and special revenue funds received by self supporting or proprietary state agencies that derive all their financing from sources other than the general fund are exempt from the provisions of §§ 35-4-22.1 and 35-4-22.2. Colleges and universities under the control of the board of governors for higher education are also exempt from these provisions.

(b) Whenever in carrying out any specific project or service the cost of which is to be paid by restricted or dedicated revenues, it is necessary for the state to make payment in the first instance subject to reimbursement in full by the monies to be received, the state controller and the general treasurer are hereby authorized to make payments upon the receipt of duly authenticated vouchers, provided payments are authorized by the appropriation, reappropriation, or approvals specified in § 35-4-22.2 by the governor, speaker of the house, and president of the senate.
R.I. Gen. Laws § 35-3-26 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-26
§ 35-3-26. Technology related expenditures.
Status: repealed

All expenditures for information resources and information technologies defined in § 29-8-2 [repealed], regardless of source of financing, shall be in conformance with a plan of expenditures approved by the legislature as part of its annual budget review process.
R.I. Gen. Laws § 35-22-3 — RI Code / Title 35 / Chapter 35-22 / Section 35-22-3
§ 35-22-3. Definitions.
Status: in_force

Host approval means an approval by an applicable elected representative of a governmental unit, for purposes of section 147(f)(2)(A)(ii) of the Internal Revenue Code of the United States of America, having jurisdiction over the area in which a facility is located that is to be financed with bonds issued by an issuer that does not have jurisdiction over the location of the facility.
R.I. Gen. Laws § 35-12-11 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-11
§ 35-12-11. Exemption from taxation.
Status: in_force

The corporation shall not be required to pay state taxes of any kind, and the corporation, and its property and money, shall at all times be free from taxation of every kind by the state.
R.I. Gen. Laws § 35-6-3 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-3
§ 35-6-3. Uniform system of accounting  Surveys.
Status: in_force

For the purpose of securing uniform accounting the department of administration shall make such a survey of the operation of any department as the controller shall deem necessary and report thereon to the governor with his or her recommendations.
R.I. Gen. Laws § 35-4-1 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-1
§ 35-4-1. Revenue credited to general fund  Exceptions  Deposits.
Status: in_force

All receipts and revenue of the state shall be credited by the general treasurer to the general fund of the state with the exception of receipts or revenue pertaining to the following funds:

(1) Permanent school fund;

(2) Touro Jewish synagogue fund;

(3) Land-grant fund of 1862;

(4) Veterans home fund;

(5) United States cooperative vocational education fund;

(6) United States industrial rehabilitation fund;

(7) Forestry cooperative fund;

(8) State sinking fund;

(9) Fire insurance fund;

(10) Fund for relief of firemen;

(11) Fund for relief of policemen;

(12) Coastal Resources Management Council Dredge Fund;

(13) Funds received from the federal government in accordance with the provisions of parts 1 and 2 of title V of the Social Security Act, 42 U.S.C. § 501 et seq.;

(14) Any other funds that may by federal law or regulation, or by enactment of the general assembly, be allocated to a specific fund, provided, that nothing contained in this section shall amend or modify: § 19-3.1-9, which pertains to securities deposited by trust companies and national banks having trust departments; § 19-5-15, which pertains to credit unions; nor § 27-1-5, which pertains to deposits of securities by insurance companies with the general treasurer; and

(15) Funds received until June 30, 2002, from the northeast dairy compact commission, which was enacted into law in Rhode Island by P.L. 1993, ch. 106, § 2-24-1 et seq. These funds are to be passed from the northeast dairy compact commission through the department of elementary and secondary education to reimburse school districts for school milk that is exempted from the federal over-order price regulation obligation at 7 CFR 1301. These funds are to be placed in a restricted receipt account established within the department of elementary and secondary education separate from all other accounts within the department of elementary and secondary education. All funds deposited in the restricted receipt account established in this section shall be disbursed prior to June 30, 2002.
R.I. Gen. Laws § 35-4-13.4 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-13.4
§ 35-4-13.4. Federal reduction relief fund  Appropriations for housing programs.
Status: in_force

The general assembly may from time to time appropriate monies from the fund to the office of intergovernmental relations in the executive department for the purpose of establishing housing programs for low or moderate income persons or families.
R.I. Gen. Laws § 35-15-2 — RI Code / Title 35 / Chapter 35-15 / Section 35-15-2
§ 35-15-2. Definitions.
Status: in_force

As used in this chapter:

(1) College and university savings bond program shall mean the program of encouraging enrollment in institutions of higher education by providing for a method of investment.

(2) General obligation bond acts shall mean:

(i) Any future public law which authorizes the state to issue its general obligation bonds, except those acts that expressly provide that this chapter shall not apply thereto; and

(ii) The following authorized but unissued bond authorizations of the state:

(A) Ten million dollars ($10,000,000) for land acquisition-industrial development under P.L. 1979, ch. 157;

(B) Sixty-four million, seven hundred thousand, dollars ($64,700,000) for the Narragansett Bay water quality management district commission under P.L. 1980, ch. 342;

(C) One million dollars ($1,000,000) for the purpose of state water supplies under P.L. 1980, ch. 163;

(D) Four thousand, six hundred, dollars ($4,600) for behavioral healthcare, developmental disabilities and hospitals under P.L. 1980, ch. 163;

(E) One million, three hundred ninety thousand, dollars ($1,390,000) for transportation under P.L. 1982, ch. 344, as amended by P.L. 1982, ch. 455;

(F) Two million, one hundred ten thousand, dollars ($2,110,000) for children, youth and families under P.L. 1982, ch. 344;

(G) Seven million dollars ($7,000,000) for transportation under P.L. 1983, ch. 332;

(H) Seven million, four hundred thousand, dollars ($7,400,000) for a water facilities assistance program under P.L. 1983, ch. 332;

(I) Three million, four hundred forty thousand, dollars ($3,440,000) for behavioral healthcare, developmental disabilities and hospitals under P.L. 1984, ch. 156;

(J) Five million dollars ($5,000,000) for environmental response fund-hazardous waste under P.L. 1984, ch. 403;

(K) Two million, two hundred thousand, dollars ($2,200,000) for higher education under P.L. 1984, ch. 156;

(L) Two million, twenty thousand, dollars ($2,020,000) for elementary and secondary education under P.L. 1984, ch. 156;

(M) Four million, five hundred fifty-five thousand, dollars ($4,555,000) for sewerage and water supply failure fund under P.L. 1984, ch. 420;

(N) Five million dollars ($5,000,000) for the emergency telephone system under P.L. 1984, ch. 144;

(O) Five million, five hundred thousand, dollars ($5,500,000) for state house renovations under P.L. 1985, ch. 367;

(P) Five million dollars ($5,000,000) for handicapped accessibility improvements under P.L. 1985, ch. 367;

(Q) Sixteen million dollars ($16,000,000) for transportation under P.L. 1985, ch. 367;

(R) One million, eight hundred fifteen thousand, dollars ($1,815,000) for agricultural land preservation under P.L. 1985, ch. 367;

(S) Nine million, six hundred eighty thousand, dollars ($9,680,000) for behavioral healthcare, developmental disabilities and hospitals under P.L. 1985, ch. 367;

(T) Sixteen million dollars ($16,000,000) for asbestos abatement under P.L. 1985, ch. 366;

(U) Seven million, eight hundred twenty thousand, dollars ($7,820,000) for heritage preservation under P.L. 1985, ch. 369;

(V) One million, five hundred thousand, dollars ($1,500,000) for underground storage tank replacement under P.L. 1985, ch. 486;

(W) Thirty-five million dollars ($35,000,000) for the Clean Water Act environmental trust fund under P.L. 1986, ch. 289;

(X) Eleven million, six hundred ninety thousand, dollars ($11,690,000) for behavioral healthcare, developmental disabilities and hospitals under P.L. 1986, ch. 419;

(Y) Fifty-five million, four hundred ninety thousand, dollars ($55,490,000) for transportation under P.L. 1986, ch. 419;

(Z) Thirteen million, six hundred thousand, dollars ($13,600,000) for water resources under P.L. 1986, ch. 419;

(AA) Fifteen million, twenty-five thousand, dollars ($15,025,000) for environmental management under P.L. 1986, ch. 419;

(BB) One million, five hundred eighty thousand, dollars ($1,580,000) for human services under P.L. 1986, ch. 419;

(CC) Six million, five hundred thousand, dollars ($6,500,000) for children, youth and families under P.L. 1986, ch. 419;

(DD) Two million dollars ($2,000,000) for hazardous waste under P.L. 1986, ch. 419;

(EE) Eight million, seven hundred thousand, dollars ($8,700,000) for higher education facilities under P.L. 1986, ch. 419;

(FF) Sixty-five million, two hundred thousand, dollars ($65,200,000) for open space and recreational areas under P.L. 1987, ch. 425; and

(GG) Twelve million, twenty-five thousand, dollars ($12,025,000) for Blackstone Valley district commission P.L. 1986, ch. 289;

(3) Housing assistance downpayment savings bond program shall mean the program of enhancing the ability of residents of the state to purchase residential dwellings within the state by providing for a method of savings and investment.

(4) Institution of higher education shall mean an educational institution situated within or without this state which by virtue of law or charter is a public or other nonprofit educational institution empowered to provide a program of education beyond the high school level and which is accredited by a nationally recognized educational accrediting agency or association and awards an associates, bachelors, or advance degree or provides a program of not less than two (2) years duration which is acceptable for full credit toward a bachelors degree.

(5) Rhode Island savings bonds shall mean general obligation bonds of the state which are:

(i) Designated as general obligation savings bonds by the governor and the general treasurer; and

(ii) Are issued under the provisions of the general obligation and bonds acts, as that term is defined in paragraph (2).

(6) State shall mean the state of Rhode Island.

(7) State of Rhode Island savings plan advisory board or advisory board shall mean the board created and established in § 35-15-3.
R.I. Gen. Laws § 35-8-3 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-3
§ 35-8-3. Sinking fund commission  Composition  Elective members  Quorum.
Status: in_force

(a) There is hereby authorized, created and established in the department of the general treasurer a sinking fund commission which shall perform the duties formerly performed by the board of commissioners of sinking funds as prescribed by this chapter, which board of commissioners is hereby abolished. The sinking fund commission shall consist of the governor or his or her designee who shall be a subordinate within the governors office, the general treasurer or his or her designee who shall be a subordinate within the general treasurers office, the director of administration or his or her designee who shall be a subordinate within the department of administration, two (2) members of the general public shall be appointed by the governor, one of whom shall serve an initial term of three (3) years and one of whom shall serve an initial term of two (2) years; and four (4) members of the general public shall be appointed by the general treasurer, one of whom shall serve an initial term of four (4) years and one of whom shall serve an initial term of three (3) years, one of whom shall serve an initial term of two (2) years; and one of whom shall serve an initial term of one year. Thereafter, all general public member appointments shall serve for a term of four (4) years and until his or her successor is appointed and qualified. All general public member appointments shall be with the advice and consent of the senate. The appointed members shall be qualified by training or experience in the fields of investment or finance. No one shall be eligible for appointment unless he or she is a resident of this state. Public members of the commission shall be removable by the chair for cause only, and removal solely for partisan or personal reasons unrelated to capacity or fitness for the office shall be unlawful.

Newly appointed and qualified public members shall, within six (6) months of their appointment, attend a training course that shall be developed and provided by the office of the general treasurer and shall include instruction in the following areas: the provisions of chapters 35-8, 42-46, 36-14 and 38-2 of the Rhode Island general laws; and the boards rules and regulations. The director of the department of administration shall, within ninety (90) days of the effective date of this act, prepare and disseminate training materials relating to the provisions of chapters 42-46, 36-14 and 38-2.

A majority of all the members of the commission is necessary to constitute a quorum.

(b) Within ninety (90) days after the end of each fiscal year during which the commission has conducted business, the commission shall submit an annual report to the governor, the speaker of the house of representatives, the president of the senate, and the secretary of state of its activities during that fiscal year. The report shall provide: an operating statement summarizing meetings or hearings held, meeting minutes if requested, subjects addressed, decisions rendered, rules or regulations promulgated, studies conducted, policies and plans developed, approved, or modified, and programs administered or initiated; a consolidated financial statement of all the funds received and expended including the source of funds, a listing of any staff supported by these funds, and a summary of any clerical, administrative or technical support received; a summary of performance during the previous fiscal year including accomplishments, shortcomings and remedies; a synopsis of hearings, complaints, suspensions, or other legal matters related to the authority of the board; a summary of any training courses held pursuant to §35-8-3; a briefing on anticipated activities in the upcoming fiscal year; and findings and recommendations for improvements. The report shall be posted electronically on the general assembly and the secretary of states website as prescribed in §42-20-8.2 of the Rhode Island general laws. The director of the department of administration shall be responsible for the enforcement of this provision.
R.I. Gen. Laws § 35-3-12 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-12
§ 35-3-12. Supplements and amendments offered by governor.
Status: in_force

The governor, before final action by the general assembly, may offer a supplement to the budget and submit amendments in conformity therewith to the accompanying appropriation bill or bills.
R.I. Gen. Laws § 35-22-4 — RI Code / Title 35 / Chapter 35-22 / Section 35-22-4
§ 35-22-4. Qualification for facility requiring host approval.
Status: in_force

(a) Host approval shall not be granted unless and until the governor has received the items and information listed in subsection (b) of this section and has issued an approval as set forth in subsection (c) of this section.

(b) The following items and information must be received by the governor:

(1) A copy of the notice of public hearing pertaining to the facilities;

(2) Minutes or another official record of the public hearing;

(3) The maximum stated principal amount of the bonds;

(4) A description of the facility, including its location;

(5) A description of the plan of finance;

(6) The name of the issuer of the bonds; and

(7) The name of the initial owner or principal user of the facility.

(c) If, and only if, the governor determines that the facility, its financing in accordance with the plan, and the items and information submitted under subsection (b) of this section are consistent with the laws and public policy of the state and are in the best interest of the state, then the governor shall issue a written approval under this section authorizing the governmental unit to grant its host approval in its discretion.
R.I. Gen. Laws § 35-6-11 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-11
§ 35-6-11. Examination and certification of accounts and claims.
Status: in_force

The controller shall examine, adjust, and determine all accounts and claims against the state, for the payment of which provision shall have been made by law, and by appropriations made therefor, and shall certify to the general treasurer the amount due and allowed by him or her on every account or claim, the head of expenditures to which the same is to be charged, and the law authorizing the payment thereof, and the law making appropriation therefor; and all accounts so certified shall, for each year, be regularly recorded by the state controller.
R.I. Gen. Laws § 35-21-1 — RI Code / Title 35 / Chapter 35-21 / Section 35-21-1
§ 35-21-1. Credit card payments on amounts due state and local governments.
Status: in_force

(a) Notwithstanding any other provision of general law to the contrary, any department or agency as defined in chapter 1 of this title, or other unit of state or local government delineated in this section, which is required or authorized to receive or collect any payments to state government, may be authorized, but not required, to accept credit card payments of such amounts and in such manner as may be prescribed or limited by this chapter. Any such department, agency or other governmental unit receiving approval from the director of the department of administration pursuant to this chapter shall be known as an authorized department or agency.

(b) Subject to the provisions of this chapter, the director of the department of administration shall establish procedures, in consultation with the state controller and general treasurer, by which: (i) a department, agency or other governmental unit may be approved as an authorized department or agency; (ii) specific fees, charges, taxes, tuition or other payments to state or local government may be approved for payment by credit card by an authorized department or agency; and (iii) the manner of acceptance of credit card payments is established. Factors which may be considered in making such determinations or establishing such procedures may include, but are not necessarily limited to, improved governmental cash flow, reduction of governmental overhead costs, improved governmental financial security, the benefit of increased public convenience or a combination of one or more of the foregoing.

(c) For purposes of this section, the term credit card shall be deemed to include credit cards, charge cards, debit cards, electronic funds transfers or similar means of automatic transmission of funds.

(d) The state controller and general treasurer are jointly authorized to enter into appropriate agreements with credit card issuers, financial institutions or other appropriate parties as needed to facilitate the acceptance of credit card payments pursuant to this chapter. Without limiting the generality of the foregoing, such agreements may provide for the acceptance of credit card payments at a discount from their face amount or the payment or withholding of administrative fees from the face amount of such payments, provided such payment or discount does not exceed a commercially reasonable percentage of the face amount of such payment as may be determined by the state controller and general treasurer. Any such agreement shall provide that it may be canceled at any time, but the agreement may include provisions for a reasonable brief period of notice for cancellation.

(e) No person making any payment by credit card shall be relieved from liability for the underlying obligation except to the extent that the state realizes final payment of the underlying obligation in cash or the equivalent. If final payment is not made by the credit card issuer or other guarantor of payment in the credit card transaction, then the underlying obligation shall survive and the state shall retain all remedies for enforcement which would have applied if the credit card transaction had not occurred. No contract may modify the provisions of this subsection. This subsection, however, shall not make the underlying obligor liable for any discount or administrative fees paid to the credit card issuer or other party by the state, except with child support payments. Credit cards shall only be accepted for child support payments if a means is established to ensure that the full amount of the child support payment made by credit card is received by the recipient and that state revenue is not used to pay any fee charged by the credit card company for the child support payment.

(f) A state officer or employee who accepts a credit card payment in accordance with this section and any applicable procedures, policies, rules, or regulations of the state shall not thereby incur any personal liability for the final collection of such payments.

(g) This section shall be broadly construed to authorize, but not require, acceptance of credit card payments by authorized departments or agencies. The decision as to whether to utilize credit card payments for any particular type of payment may be made by the authorized department or agency, subject to this chapter.

(h) Credit card account numbers in the possession of a state or local government are confidential and shall not be deemed public records.
R.I. Gen. Laws § 35-8-6.1 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-6.1
§ 35-8-6.1. Exclusion from sinking fund commission authority.
Status: in_force

Notwithstanding any general law or special law to the contrary, the sinking fund commission shall have no authority to take or cause to be taken any action or actions that would adversely affect the exclusion from income taxation of interest on any bonds, notes or certificates of indebtedness, including without limitation the interest portion of any certificates of participation issued by or at the direction of the state.
R.I. Gen. Laws § 35-4-12 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-12
§ 35-4-12. Federal reduction relief fund  Creation.
Status: in_force

(a) There is hereby created a federal reduction relief fund in order to maintain essential state services that would otherwise be diminished or eliminated by reductions in federal funding for these services for any federal fiscal year.

(b) The federal reduction relief fund shall be used for the purposes set forth in §§ 35-4-13  35-4-13.4.

(c) In the event that at the close of a fiscal year the balance in the fund is less than ten thousand dollars ($10,000), the balance shall lapse to general fund surplus and shall be made available for future appropriation by the general assembly.
R.I. Gen. Laws § 35-1-3 — RI Code / Title 35 / Chapter 35-1 / Section 35-1-3
§ 35-1-3. Succession to powers of previous officers.
Status: in_force

Wherever, in any general law, public law, or resolution of the general assembly, or in any document, record, instrument, or proceeding authorized by any law or resolution, the words state auditor or any reference to state auditor appears, or the words deputy state auditor appear, or the words state commissioner of finance and state comptroller appear, the words or reference shall be construed to mean the director of administration, unless the context or subject matter otherwise requires.
R.I. Gen. Laws § 35-8-13 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-13
§ 35-8-13. Surplus remaining after redemption of bonds.
Status: in_force

All sums of money remaining in the hands of the sinking fund commission, after the redemption of any bonds, shall, if not otherwise directed by the general assembly, be added by them to the sinking fund for the bonds yet to mature.
R.I. Gen. Laws § 35-23-3 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-3
§ 35-23-3. Rhode Island secure choice retirement savings program.
Status: in_force

(a) There is hereby established a retirement savings program known as the Rhode Island secure choice retirement savings program to be administered by the office of the general treasurer for the purpose of promoting greater retirement savings for Rhode Island private sector employees in a convenient, voluntary, low-cost, and portable manner.

(b) The secure choice retirement savings program is a plan in which retirement savings are accumulated in individual accounts for the exclusive benefit of the participants or their beneficiaries. The program shall be functionally implemented upon receipt of funds pursuant to the provisions of this chapter.
R.I. Gen. Laws § 35-15-4 — RI Code / Title 35 / Chapter 35-15 / Section 35-15-4
§ 35-15-4. Issuance and sales of savings bonds.
Status: in_force

In order to provide the people of the state: (1) with access to institutions of higher education; and (2) the financial means to purchase residential housing; there shall be issued with all bonds of the state, authorized by the provisions of the general obligation bond acts, savings bonds in such amounts as determined by the general treasurer with the approval of the governor. Bonds to be issued and sold as savings bonds shall be designated by the governor and the general treasurer as general obligation savings bonds in the proceedings authorizing the issuance of the bonds, and shall be subject to all of the terms and provisions of the general obligation bond acts, except as provided in §§ 35-15-5 and 35-15-6 and except that savings bonds may bear interest payable at such time or times, and may be sold in such a manner, and as may be determined by the governor and the general treasurer. Savings bonds may be sold at a negotiated sale if the governor and general treasurer determine that a negotiated sale will result in either a more efficient and economic sale of the savings bonds or greater access to the savings bonds by residents in the state. If any savings bonds are sold at a negotiated sale, the underwriter or underwriters to which the bonds are sold shall, in the judgment of the general treasurer, have sufficient capability to make a broad distribution of the bonds to investors resident in the state. The aggregate original principal amount of the bonds will be the sole and exclusive test for determining whether general obligation bonds have been issued in the amounts approved by the vote of the people in the general obligation bond acts. In making these determinations, the interest component of the savings bonds shall be disregarded.
R.I. Gen. Laws § 35-14-5 — RI Code / Title 35 / Chapter 35-14 / Section 35-14-5
§ 35-14-5. Definitions.
Status: in_force

As used in this chapter:

(1) Controller means the state controller.

(2) Director means the director of administration.

(3) Governor means the governor of Rhode Island.
R.I. Gen. Laws § 35-8-27 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-27
§ 35-8-27. Variable rate obligations and interest rate exchange agreements.
Status: in_force

(a) In connection with the issuance of duly authorized bonds or notes of the state, notwithstanding any other authority to the contrary, such bonds or notes may be issued in the form of variable rate obligations, so-called. In connection therewith, the state, acting through the general treasurer, may enter into agreements with banks, trust companies or other financial institutions within or without the state, whether in the form of letters or lines of credit, liquidity facilities, insurance or other support arrangements. Any debt issued as variable rate obligations shall bear such terms as the general treasurer shall determine, including provisions for prepayment at any time with or without premium at the option of the state, may be sold at a premium or discount, and may bear interest or not and if interest bearing, may bear interest at such rate or rates variable from time to time as determined by such index, banking loan rate or other method specified in any such agreement. Any such agreement may also include such other covenants and provisions for protecting the rights, security and remedy of the lenders as may, in the discretion of the general treasurer, be reasonable and proper and not in violation of law. The general treasurer may also enter into agreements with brokers for the placement or marketing of any such debt or notes of the state issued as variable rate obligations.

(b) In addition, the general treasurer, with the approval of the governor, may from time to time, enter into and amend interest rate exchange agreements including, but not limited to, interest rate caps, floors, collars, or swaps that the general treasurer determines to be necessary or desirable for the purpose of generating savings, managing an interest rate, or similar risk that arises in connection with, or subsequent to or is incidental to the issuance, carrying or securing of variable rate obligations, fixed rate bonds or fixed rate obligations. Such interest rate exchange agreements entered into by the state shall contain such provisions, including payment, term, security, default and remedy provisions, and shall be with such parties, as the general treasurer shall determine to be necessary or desirable after due consideration to the creditworthiness of those parties.
R.I. Gen. Laws § 35-10-6 — RI Code / Title 35 / Chapter 35-10 / Section 35-10-6
§ 35-10-6. Investment of funds not immediately required.
Status: in_force

(a) Except as otherwise provided in this chapter, any money not immediately required shall be invested for the benefit of the several funds in any security or investment in which deposits of savings banks and participation deposits in banks and trust companies may be legally invested; provided, that investments shall be made in securities as would be acquired by prudent persons of discretion and intelligence in these matters, who are seeking a reasonable income and the preservation of their capital.

(b) Notwithstanding subsection (a), the commission is authorized and empowered to execute the disposition and investment of the funds which are within its control in accordance with the prudent person standard as defined in this subsection. The commission shall adopt a statement of investment objectives and policies consistent with the prudent person standard. Management and professional expenses incurred by the commission in the furtherance of this section shall be paid from the funds in an amount required for these expenses. For purposes of this subsection, the prudent person standard shall be that standard of care employed solely in the interest of the participants and beneficiaries of the funds and:

(1) For the exclusive purpose of:

(i) Providing benefits to participants and their beneficiaries; and

(ii) Defraying reasonable expenses of administering the funds;

(2) With the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with these matters would use in the conduct of an enterprise of a like character and with like aims; and

(3) By diversifying the investments of the fund so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so.

(c) The state controller is authorized and directed to draw his or her orders upon the general treasurer for the purchase of investments, upon receipt by him or her of properly authenticated vouchers signed by the chairperson, or a deputy treasurer in the event of the chairpersons absence or illness, and by the secretary of the commission. The proceeds from the sale of investments shall be paid to the general treasurer for the benefit of the several funds on the forms prescribed and duly signed by the chairperson and secretary of the commission.
R.I. Gen. Laws § 35-18-4 — RI Code / Title 35 / Chapter 35-18 / Section 35-18-4
§ 35-18-4. Procedure.
Status: in_force

(a) A financing lease, guarantee, bond, or other obligation shall be deemed to have been approved by the general assembly when the general assembly passes a joint resolution of approval regarding the financing lease, guarantee, bond, or other obligation which the governor or a public corporation, as the case may be, requests that the financing lease, guarantee, bond, or other obligation be approved by the general assembly. These requests shall be transmitted to the speaker of the house and the president of the senate with copies to the chairpersons of the respective finance committees and fiscal advisors. The request for approval shall include:

(1) A full description of the essential public facility to which the financing lease, guarantee, bond, or other obligation is related;

(2) An explanation as to why the facility is needed and how it will be paid off; and

(3) The maximum possible obligation of the state or of any public corporation under the financing lease, guarantee, bond, or other obligation.

(b) The governor shall provide the general assembly with a timely explanation of any certification made by the governor pursuant to this chapter in connection with any financing lease, guarantee, bond, or other obligation. These explanations shall be transmitted to the speaker of the house and the president of the senate with copies to the chairpersons of the respective finance committees and fiscal advisors. The explanation shall also include:

(1) A full description of the essential public facility to which the financing lease, guarantee, bond, or other obligation is related;

(2) An explanation as to why the facility is needed and how it will be paid off; and

(3) The maximum possible obligation of the state or of any public corporation under the financing lease, guarantee, bond, or other obligation.

(c) The state shall not enter into any financing lease or guarantee relating to, nor shall any public corporation issue any bond or other obligation in connection with, any essential public facility unless the facility conforms to the description included in the request for approval or in the explanation for certification submitted by the governor in connection with the financing lease, guarantee, bond, or other obligation; nor shall the states obligation in connection with the financing lease, guarantee, bond, or other obligation exceed the amount set forth in the request for approval or explanation of certification.

(d) Immediately following the first sale of each issue of bonds in connection with the financing of an economic development project, the governor shall provide the general assembly with copies of any offering statement for those bonds and the governors analysis of the benefits and risks to the state of the project. These statements and analyses shall be transmitted to the speaker of the house and the president of the senate, with copies to the chairpersons of the respective finance committees and fiscal advisors.
R.I. Gen. Laws § 35-8-12 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-12
§ 35-8-12. Annual deficit payments to sinking fund commission.
Status: in_force

Annually, within five (5) days after the fifteenth of June in each fiscal year, the sinking fund commission shall certify in writing to the controller the sum necessary to offset any deficit then existing in the sinking fund and thereupon, on or before the last business day of the fiscal year, it shall be the duty of the controller to draw his or her order upon the general treasurer, directing the treasurer to transfer that sum from the general fund to the sinking fund.
R.I. Gen. Laws § 35-8-4 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-4
§ 35-8-4. Succession of sinking fund commission to previous board.
Status: in_force

The sinking fund commission shall perform the duties prescribed by this chapter. Wherever in any general law, public law, or resolution of the general assembly, or in any document, record, instrument, or proceeding authorized by law or resolution, unless the context or subject matter otherwise requires, the words board of commissioners of sinking funds or any reference to that board of commissioners appears, the words or reference shall be construed to mean the sinking fund commission created by this chapter, and wherever the words state budget director and comptroller appear, they shall be construed to mean director of administration.
R.I. Gen. Laws § 35-4-4.4 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-4.4
§ 35-4-4.4. State Linked Deposit Policy  Exceptions.
Status: in_force

(a) Nothing in §§ 35-4-4.1  35-4-4.6 shall be construed as to require the state, or its agencies and instrumentalities, to liquidate existing funds on deposit prior to their maturity date(s) in order to comply with §§ 35-4-4.1  35-4-4.6.

(b) Sections 35-4-4.1  35-4-4.6 are not applicable with respect to funds on deposit that were received from the proceeds of either bond or note offerings that have received ratings from at least one national credit rating service of at least A-1 or MIG 1 with respect to short-term borrowings or A with respect to long-term borrowings. In determining which financial institutions shall hold these investments, preference shall be given to those financial institutions that have achieved an outstanding CRA rating.
R.I. Gen. Laws § 35-4-4 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-4
§ 35-4-4. Safekeeping and disbursement of funds.
Status: in_force

All moneys due to the state shall be paid to the general treasurer, who shall be responsible for the safekeeping and proper disbursement thereof according to law.
R.I. Gen. Laws § 35-5-3 — RI Code / Title 35 / Chapter 35-5 / Section 35-5-3
§ 35-5-3. Payments from treasury for establishment of funds.
Status: in_force

For the purpose of providing from time to time moneys for the establishment of rotary funds, a sum sufficient is hereby appropriated out of any money in the treasury not otherwise appropriated, and the proper officer of any state department or agency may present a voucher to the director of administration payable to the disbursing officer for such sum as may be necessary, and, when approved by the director, the state controller shall draw his or her order upon the general treasurer for the payment of such sums as may be from time to time required, and the sums shall be charged to the state department or agency presenting the voucher.
R.I. Gen. Laws § 35-4-4.1 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-4.1
§ 35-4-4.1. State Linked Deposit Policy  Short title.
Status: in_force

Sections 35-4-4.1  35-4-4.6 shall be known as the State Linked Deposit Policy, as it will link the deposit of state funds with bank performance as determined by the rating system utilized by federal regulatory authorities in compliance with the provisions of the federal Community Reinvestment Act (CRA), 12 U.S.C. § 2901 et seq., and the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), 12 U.S.C. § 3331 et seq.
R.I. Gen. Laws § 35-1-5 — RI Code / Title 35 / Chapter 35-1 / Section 35-1-5
§ 35-1-5. Quarterly financial reporting.
Status: in_force

The director of administration shall direct the state controller to prepare and report quarterly financial statements regarding the financial condition of the state, including actual revenue collections compared to the estimates upon which the budget was based, and actual departmental expenditures and encumbrances compared to appropriations. Furthermore, the director shall direct the state budget officer to project on a quarterly basis the anticipated year end balance assuming current trends continue and that typical cyclical expenditure patterns prevail over the course of the year. A consolidated quarterly report incorporating the current status and projection shall be released to the public, with copies provided to the chairperson of the House Finance Committee, chairperson of the senate finance committee, house fiscal advisor, and senate fiscal advisor, within forty-five (45) calendar days of the end of each quarter.
R.I. Gen. Laws § 35-23-10 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-10
§ 35-23-10. Employer liability protection.
Status: in_force

(a) Employers shall not have any liability for an employees decision to participate in, or opt out of, the RISavers retirement savings program, or for the investment decisions of employees whose assets are deposited in the program.

(b) Employers shall not be a fiduciary, or considered to be a fiduciary, over the Rhode Island secure choice retirement savings program. The program is a state-administered program, not an employer-sponsored program. If the program is subsequently found to be preempted by any federal law or regulation, employers shall not be liable as program sponsors. An employer shall not bear responsibility for the administration, investment, or investment performance of the program. An employer shall not be liable with regard to investment returns, program design, and benefits paid to program participants.

(c) An employer shall not have civil liability, and no cause of action shall arise against an employer, for acting pursuant to the regulations prescribed by the office of the general treasurer defining the roles and responsibilities of employers that have a payroll deposit retirement savings arrangement to allow employee participation in the program.
R.I. Gen. Laws § 35-4-9 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-9
§ 35-4-9. Monthly reconciliation of depository accounts  Stopping payment on unpaid checks.
Status: in_force

At least once a month the general treasurer shall obtain from each of the several depositories holding funds of the state, an account of the funds carried by him or her with the depository, shall compare the account with the records of his or her office, and shall list all outstanding checks issued by him or her and not returned by a depository as paid. Once annually, on June 30, the general treasurer shall notify all depositories holding funds of the state to stop payment on all checks listed as unpaid during the previous calendar year, and the amount shall be recovered into the general treasury as a miscellaneous receipt.
R.I. Gen. Laws § 35-12-2 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-2
§ 35-12-2. Purpose and findings.
Status: in_force

The purpose of this chapter is to authorize and implement a system of financial planning which would allow the university of Rhode Island (the university) to more accurately match revenues and expenditures for externally funded research programs for each fiscal year. The general assembly has found and hereby declares that it is in the public interest to encourage independent research activity at the university and further that it is essential to the financial well being of the state and the university that revenues from externally funded research programs be allocated to the fiscal years in which they accrue and be matched to the expenditures for the programs that are incurred for that fiscal year. The general assembly has further found that under the present system revenues are often received after the close of the fiscal year although the expenditures to which they are matched were incurred prior to the close of the fiscal year, and that, in fact, under certain programs, funds must be expended and then reimbursement sought from the contracting agency at a later date, often after the close of the fiscal year.
R.I. Gen. Laws § 35-18-2 — RI Code / Title 35 / Chapter 35-18 / Section 35-18-2
§ 35-18-2. Definitions.
Status: in_force

The words defined in this section shall have the meanings set forth below whenever they appear in this chapter, unless the context in which they are used clearly requires a different meaning:

(1) Bond and obligation mean an agreement by any person to repay borrowed money.

(2) Economic development project means any project which the Rhode Island industrial facilities corporation is authorized to undertake, including, without limitation, a project related to financing the acquisition of any land and any building or other improvement which shall be suitable for manufacturing, warehousing, or other industrial or commercial purposes, including research, production, processing, agricultural, and marine commerce; provided, however, that the project may include, in addition, the construction or improvement of access roads and utilities, but only access roads and utilities, and only those which are necessary for the operation of that project.

(3) Essential public facilities means roads, bridges, airports, prisons, reservoirs, waste and wastewater treatment facilities, educational facilities, and any other facilities used by any state agency, department, board, or commission, including the board of governors for higher education, to provide services to the public pursuant to the requirements of state or federal law, all fixtures for any of those facilities and facilities financed or refinanced by bonds or other obligations of the water resources board corporate. It does not include any personal property.

(4) Financing lease means an agreement in the form of a lease between the state and any person which provides that upon payment by the state as lessee of aggregate rent equal to no less than all of the principal and interest on bonds or other obligations issued by the lessor to finance the acquisition, construction, or improvement of all or any part of an essential public facility, the state shall have the right to possess, use and enjoy that facility pursuant to the lease for a specified period and the option to purchase that facility for a nominal sum at the end of the period.

(5) Governor means the governor of the state.

(6) Guarantee and guarantee lease mean an agreement on the part of the state to guarantee any liability of a public corporation except a liability of the Rhode Island industrial recreational building authority.

(7) Person means an individual, partnership, corporation, public corporation, trust, or association.

(8) Public corporation means any body corporate and politic created or to be created pursuant to statute, including, without limitation, the Rhode Island industrial recreational building authority, the Rhode Island economic development corporation and any subsidiaries thereof, the Rhode Island industrial facilities corporation, the Rhode Island refunding bond authority, the Rhode Island health and educational building authority, the board of governors for higher education, the Rhode Island housing and mortgage finance corporation, the Rhode Island resource recovery corporation, the Rhode Island public transit authority, the Rhode Island student loan authority, the water resources board corporate, (except as provided below), the Rhode Island health and educational building corporation, the Rhode Island depositors economic protection corporation, the Rhode Island convention center authority, the Rhode Island turnpike and bridge authority, their successors and assigns. Cities, towns, and any corporation created by a city or town pursuant to statute, and fire and water districts, are not public corporations under this chapter. The water resources board corporate is not a public corporation under this chapter to the extent it is financing or refinancing bonds or other obligations on behalf of a city, town, city or town instrumentalities or agencies, or fire or water districts.

(9) State means the state of Rhode Island, and any department, office, board, commission, or agency of the state.
R.I. Gen. Laws § 35-5-5 — RI Code / Title 35 / Chapter 35-5 / Section 35-5-5
§ 35-5-5. Monthly accounts of disbursing officers  Reimbursement of funds.
Status: in_force

Every disbursing officer shall at the end of each month render to the state controller a statement, in the form prescribed by the controller, together with duly authenticated vouchers, covering expenditures from the funds for each month, and when approved by the state controller, the disbursing officer shall draw his or her orders upon the general treasurer for the amount necessary to reimburse each fund.
R.I. Gen. Laws § 35-23-12 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-12
§ 35-23-12. Annual audited financial report.
Status: in_force

(a) The office of the general treasurer shall submit, no later than December 31 annually, an audited financial report, prepared in accordance with generally accepted accounting principles, on the operations of the Rhode Island secure choice retirement savings program to the governor, and the finance committees of the house and senate. The annual audit shall be made by an independent certified public accountant and shall include, but not be limited to, direct and indirect costs attributable to the use of outside consultants, independent contractors, and any other persons who are not state employees.

(b) The annual audit shall be supplemented by the following information prepared by the office of the general treasurer:

(1) Any studies or evaluations prepared in the preceding year;

(2) A summary of the benefits provided by the program including the number of participants in the program; and

(3) Any other information that is relevant in order to make a full, fair, and effective disclosure of the operations of the Rhode Island secure choice retirement savings program.
R.I. Gen. Laws § 35-4-4.2 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-4.2
§ 35-4-4.2. State Linked Deposit Policy  Legislative purpose.
Status: in_force

The purpose of §§ 35-4-4.1  35-4-4.6 is to increase the availability of capital and banking services in low and moderate income neighborhoods of Rhode Island by using state deposits as an incentive. Sections 35-4-4.1  35-4-4.6 uses the federal evaluation of CRA performance in helping the state decide where to deposit its funds.
R.I. Gen. Laws § 35-24-6 — RI Code / Title 35 / Chapter 35-24 / Section 35-24-6
§ 35-24-6. Monies invested in trust not considered assets or income.
Status: in_force

Except as otherwise required by federal law, any money deposited into the trust and credited to a designated beneficiary, and any increase in the values thereof, shall not be used to calculate the personal assets of a designated beneficiary for purposes of determining income eligibility of the designated beneficiary for state or local assistance programs including:

(1) Any disability, medical, or other health benefits administered by the state; and

(2) Any student loan program, student grant program, or other student financial program administered by the state.
R.I. Gen. Laws § 35-3-7.2 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-7.2
§ 35-3-7.2. Budget officer as capital development officer.
Status: in_force

The budget officer shall be a capital development program officer who shall be responsible for:

(1) The review of all capital development requests submitted by the various state departments, as set forth in chapter 6 of title 42, which shall include all independent boards and commissions and the capital development plans of the Narragansett Bay Commission, Rhode Island infrastructure bank, the Lottery Commission, and all other public corporations, as defined in chapter 18 of this title which plans would be subject to the provisions of § 35-18-3; provided, that, except as provided for in this section, nothing in this section shall be construed to limit the powers of the council on postsecondary education as outlined in chapter 59 of title 16. Capital development requests and plans shall be submitted in such form, with such explanation, in such number of copies, and by such date as the budget officer may require. Copies shall also be provided directly to the house fiscal advisor and the senate fiscal advisor.

(2) Preparation of a capital budget which shall specify which capital items are proposed for presentation to the electorate at the next general election.

(3) The activities which will promote capital development planning and develop criteria which can be used to determine appropriate levels of bonded indebtedness.

(4) Acting as chairperson of the capital development planning and oversight commission which is to be appointed by the governor. The commission, in addition to recommending to the governor the biennial capital budget, shall implement a long-range capital development planning process and shall be responsible for the development of an inventory of state assets to determine the need and prioritization of capital improvements.

(5) Working with the council on postsecondary education in the development by the council of that portion of the councils capital development program involving annual general revenues.
R.I. Gen. Laws § 35-6-32.1 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-32.1
§ 35-6-32.1. Collection of unpaid fines and assessments.
Status: in_force

(a) The state court administrator is authorized on behalf of the state to enter into a written agreement in accordance with the judiciarys purchasing rules and regulations with one or more qualified collection agencies to attempt to collect all fees, fines, court costs, assessment charges and/or other monetary obligations imposed by any state court and/or the traffic tribunal which are due and owing to the state and which are not the subject of a court-ordered payment plan in good standing, or are not the subject of an appeal.

(b) Amounts recovered by a collection agency pursuant to an agreement with the state, shall be remitted to the state court director of finance and deposited in the general fund of the state or as otherwise provided by law; provided, however, a collection agency shall be permitted to retain a percentage of the amounts collected as provided in the agreement with the state court administrator.
R.I. Gen. Laws § 35-7-11 — RI Code / Title 35 / Chapter 35-7 / Section 35-7-11
§ 35-7-11. Specifications of audit  Copies of report.
Status: in_force

The director of administration and the general treasurer shall assist the finance committee of the house of representatives in determining the post audit specifications prior to the employment of the certified public accountant or accountants. Upon completion of the post audit the certified public accountant or accountants shall submit copies of the report to the members of the finance committee of the house of representatives, the governor, the director of administration, the general treasurer, and the legislative council. The report shall also be made available for public inspection.
R.I. Gen. Laws § 35-4-4.7 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-4.7
§ 35-4-4.7. Public disclosure.
Status: in_force

(a) Any bank otherwise eligible for deposits or investments under this chapter shall make available for public inspection, upon request, the following:

(1) The latest CRA statement;

(2) The most recent CRA public disclosure report by the appropriate regulatory organization(s);

(3) The most recent report under the federal Home Mortgage Disclosure Act, 12 U.S.C. § 2801 et seq.; and

(4) Any documents relating to fair lending audits.

(b) Nothing in this section shall be construed to require a bank to make public any document not otherwise deemed public by applicable state or federal law.
R.I. Gen. Laws § 35-3-15 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-15
§ 35-3-15. Unexpended and unencumbered balances of revenue appropriations.
Status: in_force

(a) All unexpended or unencumbered balances of general revenue appropriations, whether regular or special appropriations, at the end of any fiscal year, shall revert to the surplus account in the general fund, and may be reappropriated by the governor to the ensuing fiscal year and made immediately available for the same purposes as the former appropriations; provided, that the disposition of unexpended or unencumbered appropriations for the general assembly and legislative agencies shall be determined by the joint committee on legislative affairs, and written notification given thereof to the state controller within twenty (20) days after the end of the fiscal year; and furthermore that the disposition of unexpended or unencumbered appropriations for the judiciary shall be determined by the state court administrator, and written notification given thereof to the state controller within twenty (20) days after the end of the fiscal year.

(b) The governor shall submit a report of such reappropriations to the chairperson of the house finance committee and the chairperson of the senate finance committee of each reappropriation stating the general revenue appropriation, the unexpended or unencumbered balance, the amount reappropriated, and an explanation of the reappropriation and the reason for the reappropriation by August 20 of each year.
R.I. Gen. Laws § 35-2-2 — RI Code / Title 35 / Chapter 35-2 / Section 35-2-2
§ 35-2-2. Fiscal year in towns and cities.
Status: in_force

The electors in a financial town meeting of any town qualified to vote on any proposition to impose a tax or for the expenditure of money, or the city council of any city, not having a fiscal year beginning July 1, may vote at any financial town or city council meeting, provided, that the fiscal year in the town or city in which a vote is passed shall thereafter begin with July 1 of each calendar year and end with June 30 of the following calendar year.
R.I. Gen. Laws § 35-13-11 — RI Code / Title 35 / Chapter 35-13 / Section 35-13-11
§ 35-13-11. Public records  Locations.
Status: in_force

(a) Records, with regard to the ownership of or security interests in registered public obligations, are not subject to inspection or copying under any law of this state relating to the right of the public to inspect or copy public records, notwithstanding any law to the contrary.

(b) Registration records of the issuer may be maintained at such locations within or without this state as the issuer shall determine.
R.I. Gen. Laws § 35-20-9 — RI Code / Title 35 / Chapter 35-20 / Section 35-20-9
§ 35-20-9. Financial Estimates for Public Corporations.
Status: in_force

Itemized estimates of the financial needs of each public corporation shall be submitted by each chairperson or chief executive officer of a public corporation to the governor through the budget officer of the department of administration. The estimate shall be in such form, and in such number of copies, and with such explanation as the budget officer may require. The budget officer shall also provide copies of the estimates to the house fiscal advisor and the senate fiscal advisor.
R.I. Gen. Laws § 35-4-5 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-5
§ 35-4-5. Deposit of funds  Purchase of bonds and securities.
Status: in_force

(a) The general treasurer shall deposit or place, subject to his or her order, for the use of the state, all of the funds of the state received by him or her, in such a safe and responsible bank or banks, or trust company or trust companies, within this state having a paid-in capital of not less than one hundred thousand dollars ($100,000), or with any safe and responsible institution within this state whose accounts are insured by any instrumentality of the United States government, as will give the greatest rate of interest therefor, and may, subject to the approval of the state investment commission as provided in chapter 10 of title 35, purchase from time to time, for the investment of surplus funds, state bonds and United States government securities, and with state approval, dispose of bonds and securities when the funds are needed for the general purposes of the state, and all state bonds so purchased shall not become subject to the provisions of § 35-8-2.

(b) The state controller is hereby authorized and directed to draw his or her orders upon the general treasurer for such sums as may from time to time be required for the purchase of bonds and securities upon receipt by him or her of proper vouchers approved by the state investment commission.
R.I. Gen. Laws § 35-5-9 — RI Code / Title 35 / Chapter 35-5 / Section 35-5-9
§ 35-5-9. General store defined.
Status: in_force

The term general store, as used in this chapter, shall be deemed to include the general store, drug store, and bakery at the state institutions in Cranston under the control of the department of corrections.
R.I. Gen. Laws § 35-6-16 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-16
§ 35-6-16. Payments for work on projects specifically appropriated for.
Status: in_force

Whenever the general assembly shall make any appropriation for the erection or repair of any public building, or any armory of any military company, or any appropriation for any specified work to be done and performed, the state controller shall require satisfactory proof that the work specified in the appropriation has been faithfully done, according to the terms of the appropriation, before the money appropriated for the purpose shall be drawn from the state treasury; or, if the appropriation contemplates that portions of the money appropriated shall be drawn as the work progresses, the money shall be drawn only in proportion to the amount of the work done, or advanced upon such security as the state controller may require shall be applied to the work.
R.I. Gen. Laws § 35-20-6 — RI Code / Title 35 / Chapter 35-20 / Section 35-20-6
§ 35-20-6. Annual report.
Status: in_force

(a) To ensure that the requirements of this section are fully complied with, each public corporation shall prepare and submit a report on the adequacy of the corporations systems of internal accounting and administration control by December 31 of each year.

(b) The report, including the state agencys response to report recommendations, shall be signed by the chairperson and/or the chief executive officer of the corporation and addressed to the governor. Copies of the reports shall be forwarded to both houses of the legislature, the auditor general, and the director. Copies of these reports shall also be forwarded to the state library where they shall be available for public inspection.

(c) By September 30, 1995, the director, in consultation with the auditor general and the controller, shall establish a system of reporting and a general framework to guide the public corporations in performing evaluations on their systems of internal accounting and administrative control. The director, in consultation with the auditor general and the controller, may modify the format for the report or the framework for conducting the evaluations from time to time as deemed necessary.

(d) Any material inadequacy or material weakness in systems of internal accounting and administrative control which prevents the chair and/or chief executive officer of the corporation from stating that the systems of internal accounting and administrative control provided reasonable assurance that each of the objectives specified above was achieved shall be identified and the plans and schedule for correcting the inadequacy described in detail.

(e) The annual report of each public corporation shall also include financial statements relating to the operation, properties, income, expenditure, assets, and liabilities, including outstanding bonded indebtedness, of the corporation.
R.I. Gen. Laws § 35-6-33 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-33
§ 35-6-33. Payment of criminal costs to person entitled.
Status: in_force

All costs received by the clerk of any court, or other officer or person, which shall be paid by defendants or others in criminal prosecutions, shall be processed by the clerk, officer, or person through the supreme court director of finance in accordance with § 8-15-9; and all sums so received and paid by the officials or persons shall be accounted for with the supreme court director of finance.
R.I. Gen. Laws § 35-8-20 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-20
§ 35-8-20. Minibonds.
Status: in_force

Notwithstanding any provision of general or public law to the contrary, whenever the general treasurer is authorized by any general or public law to issue and sell bonds of the state, he or she may determine, with the approval of the governor, to issue and sell all or a portion of the bonds in denominations of one hundred dollars ($100), five hundred dollars ($500), one thousand dollars ($1,000), or any multiple of one thousand dollars ($1,000). Bonds issued in denominations of one hundred dollars ($100), five hundred dollars ($500), or one thousand dollars ($1,000) are hereinafter called minibonds. The general treasurer may issue and sell minibonds at public or private sale at par or at a discount, maturing in such amounts and upon such dates, bearing interest at such rate or rates, payable as to both principal and interest at such time or times and in such manner, in bearer or registered form, and upon such other terms and conditions, all as the general treasurer, with the approval of the governor, shall determine to be in the best interest of the state. Each minibond may, at the determination of the general treasurer, also provide that it shall be redeemed by the state at the option of the holder or registered owner upon due presentment on any business day at least one month from its date at such price and on such terms as the general treasurer shall fix, with the approval of the governor, at the time of issue of the minibonds; provided, that if so determined and provided:

(1) Not more than ten percent (10%) of the face amount originally authorized shall be sold by the general treasurer in any one fiscal year;

(2) No minibond shall mature more than five (5) years after its date; and

(3) No one sale to a single purchaser of minibonds shall be in an aggregate face amount greater than five thousand dollars ($5,000).
R.I. Gen. Laws § 35-4-13 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-13
§ 35-4-13. Federal reduction relief fund  Appropriations for essential state services.
Status: in_force

An amount not to exceed seven million dollars ($7,000,000) shall be used to fund state appropriations in order to maintain essential state services that would otherwise be diminished or eliminated by reductions in federal funding for these services for any federal fiscal year.
R.I. Gen. Laws § 35-5-7 — RI Code / Title 35 / Chapter 35-5 / Section 35-5-7
§ 35-5-7. Repayment of funds to treasury  Accounting.
Status: in_force

Whenever the director of administration shall so request in writing, any disbursing officer shall turn over to the general treasurer any balance remaining in his or her custody or subject to his or her order, accounting at the same time to the controller for the full amount of the rotary fund given originally into his or her custody, and the general treasurer shall credit the balances, when so turned over, to the appropriation to which the rotary fund was originally charged.
R.I. Gen. Laws § 35-4-28 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-28
§ 35-4-28. Conversion of restricted receipt accounts to general revenue accounts.
Status: in_force

Notwithstanding any law to the contrary, in each fiscal year, the following restricted receipt accounts will be converted to general revenue accounts:

(1) Alcohol  Highway safety;

(2) Highway safety program;

(3) Court improvement project fund;

(4) Criminal justice information system;

(5) Court improvement fund  ACIS;

(6) Appeal fee administrative adj;

(7) Ct improv proj fund electronic data storage;

(8) Admin adjudication court  DWI;

(9) Substance abuse  Prevention  AAC admin;

(10) DWI retraining; and

(11) Collection agency AAC.
R.I. Gen. Laws § 35-23-15 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-15
§ 35-23-15. Penalties.
Status: in_force

(a) The office of the general treasurer shall have the power and duties necessary to administer the enforcement of employer compliance with this chapter, including the ability to impose penalties.

(b)(1) The office of the general treasurer shall issue a notice of noncompliance to each employer that fails to allow its eligible employees to participate in the Rhode Island secure choice savings retirement program pursuant to this title.

(2) Each eligible employer that, without good cause, fails to allow its eligible employees to participate in the program within thirty (30) days from the date the notice of penalty was issued, shall be subject to a penalty of two hundred fifty dollars ($250) per eligible employee. Proceeds of such penalties, after deducting enforcement expenses, shall be deposited for the benefit of the program.

(c) The department of labor and training shall assist the office of the general treasurer in its enforcement of this chapter.
R.I. Gen. Laws § 35-23-6 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-6
§ 35-23-6. Powers of the office of the general treasurer.
Status: in_force

(a) The office of the general treasurer shall have the power and authority to do all of the following:

(1) Adopt a seal and change and amend it from time to time;

(2) Make provisions for the payment of costs of administration and operation of the program;

(3) Retain and contract with a Rhode Island public retirement system, consultants, actuaries, counsel, auditors, and other professionals as necessary;

(4) Procure insurance against any loss in connection with the property, assets, or activities of the program;

(5) Set minimum and maximum contribution levels in accordance with contribution limits set for IRAs by the Internal Revenue Code;

(6) Collaborate and cooperate with private financial institutions, service providers, and business, financial, trade, membership, and other organizations to the extent necessary or desirable for the effective and efficient design, implementation, and administration of the program and to maximize outreach to eligible or optional employers and eligible employees;

(7) Collaborate with, and evaluate the role of, licensed insurance agents and financial advisors in assisting and providing guidance for eligible employees;

(8) Cause expenses incurred to initiate, implement, maintain, and administer the program to be paid from contributions to, or investment returns or assets of, the program or arrangements established under the program, to the extent permitted under state and federal law;

(9) Facilitate compliance by the retirement savings program or arrangements established under the program with all applicable requirements for the program under the Internal Revenue Code of 1986, including tax qualification requirements or any other applicable law and accounting requirements, including providing or arranging for assistance to program sponsors and individuals in complying with applicable law and tax qualification requirements in a cost-effective manner;

(10) Carry out the duties and obligations of the Rhode Island secure choice retirement savings program pursuant to this chapter and exercise any and all other powers as appropriate for the effectuation of the purposes, objectives, and provisions of this title pertaining to the program;

(11) Enter into intergovernmental agreements with any state agency to further the successful implementation and operation of the program and all such agencies and instrumentalities shall cooperate with the office of the general treasurer. All state agencies shall cooperate as requested by the program in the performance of its duties under this chapter, including, unless otherwise prohibited, the sharing of relevant data as the parties shall mutually agree;

(12) Make and enter into contracts, agreements, memoranda of understanding, arrangements, partnerships, or other arrangements to collaborate, cooperate, coordinate, contract, or combine resources, investments, or administrative functions with other governmental entities, including any states or their agencies or instrumentalities that maintain or are establishing retirement savings programs compatible with the program, including collective, common, or pooled investments with other funds of other states programs with which the assets of the program and trust are permitted by law to be collectively invested, to the extent necessary or desirable for the effective and efficient design, administration, and implementation of the program consistent with the purposes set forth in this chapter, including the purpose of achieving economies of scale and other efficiencies designed to minimize costs for the program and its participants; and

(13) Develop and implement an investment policy that defines the programs investment objectives, consistent with the objectives of the program, and that provides for policies and procedures consistent with those investment objectives. The office of the general treasurer shall designate appropriate default investments that include a mix of asset classes, such as target date and balanced funds. The office of the general treasurer shall seek to minimize participant fees and expenses of investment and administration. The office of the general treasurer shall strive to design and implement investment options available to holders of accounts established as part of the program and other program features that are intended to achieve maximum possible income replacement balanced with an appropriate level of risk in an IRA-based environment consistent with the investment objectives under the policy. The investment options may encompass a range of risk and return opportunities and allow for a rate of return commensurate with an appropriate level of risk in view of the investment objectives under the policy. The menu of investment options shall be determined taking into account the nature and objectives of the program, the desirability (based on behavioral research findings) of limiting investment choices under the program to a reasonable number, and the extensive investment choices available to participants in the event that they roll over to an IRA outside the program.

(b) The office of the general treasurer shall adopt regulations it deems necessary to implement this chapter consistent with the Internal Revenue Code and regulations issued pursuant to that code to ensure that the program meets all criteria for federal tax-deferral or tax-exempt benefits, or both.
R.I. Gen. Laws § 35-15-3 — RI Code / Title 35 / Chapter 35-15 / Section 35-15-3
§ 35-15-3. Creation and duties of advisory board.
Status: in_force

(a) The state of Rhode Island savings bond advisory board is hereby created and established to perform the duties and exercise the powers listed in this section. Pursuant to the powers delegated to the department of the treasury, the department shall have the responsibility for supervising, organizing, and evaluating the advisory board and the savings bond program. The advisory board shall consist of the general treasurer, the commissioner of higher education, the director of administration, and the executive director of the Rhode Island housing and mortgage finance corporation or their respective designees, and four (4) additional members to be appointed as follows: the governor, the lieutenant governor, the president of the senate, and the speaker of the house of representatives shall each appoint one member. The governor, the lieutenant governor, president of the senate, and the speaker of the house of representatives shall select members on the basis of their knowledge, skill, and experience in the fields of business, education, housing, or finance. The general treasurer shall serve as chairperson of the advisory board, and the advisory board shall elect one of its members as vice-chairperson and another as secretary-treasurer. The appointed members of the advisory board first appointed shall serve for terms expiring on June 30, 1991, or until their successors have been appointed and have qualified. Following this determination, each member shall swear or solemnly affirm to administer the duties of office faithfully and impartially, indicating by date when the term of the member shall expire. Upon the expiration of the term of any appointed member, the successor member shall be appointed for a term of three (3) years or until a successor has been appointed and has qualified. Any vacancy shall be filled in the manner of the original appointment for the remainder of the unexpired term. The members shall receive no compensation for the performance of their duties, but each member shall be reimbursed for reasonable expenses incurred in carrying out and performing their duties under this chapter.

(b) The advisory board shall have the following responsibilities and duties:

(1) To implement the Rhode Island savings bond program;

(2) To the extent permitted by federal and state laws, to develop and conduct marketing and advertising campaigns for the savings bonds and other instruments;

(3) To make recommendations to the governor, the general treasurer, and the budget office regarding the terms and conditions of the offering of savings bonds, including methods by which the offering may be conducted;

(4) To advise the governor, the general treasurer, and the department of administration regarding minimum denominations, maturity dates, and increments of the savings bonds; and

(5) To make reports to the general assembly annually.
R.I. Gen. Laws § 35-13-10 — RI Code / Title 35 / Chapter 35-13 / Section 35-13-10
§ 35-13-10. Security for deposits.
Status: in_force

Obligations issued by public entities under the laws of one or more states, territories, possessions, or the District of Columbia, which are in registered form, whether or not represented by an instrument, and which, except for their form, satisfy the requirements with regard to security for deposits of moneys of public agencies prescribed pursuant to any law of this state, shall be deemed to satisfy all the requirements even though they are in registered form if a security interest in the obligations is perfected on behalf of the public agencies whose moneys are so deposited.
R.I. Gen. Laws § 35-3-8 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-8
§ 35-3-8. Recommendations to meet deficiencies  Submission of appropriation bills.
Status: in_force

(a) The budget shall also contain the recommendations of the governor to the general assembly for new taxes, loans, or other appropriate actions to meet any estimated deficiency for the ensuing fiscal year. It shall also be accompanied by a bill or bills for all proposed appropriations.

(b) In the event that any departments of state government are expected to incur a deficiency within the current fiscal year, the governor shall, on or before the third Thursday in January each year, submit a request for supplemental appropriations on their behalf. Provided, however, in those years that a new governor is inaugurated, the new governor shall submit the request on or before the first Thursday in February. In the event that, prior to or subsequent to the request, the governor determines that additional deficiencies are expected to be incurred, the governor shall submit requests for additional appropriations upon notice of these deficiencies.

(c) The request presented to the general assembly shall identify the proposed increases and decreases to the original amounts provided in the annual appropriation act provided, that no action shall be taken that will cause an excess of appropriations for revenue expenditures over expected revenue receipts.
R.I. Gen. Laws § 35-12-6 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-6
§ 35-12-6. Additional powers.
Status: in_force

In addition to the powers enumerated in § 35-12-5, the corporation shall have power to:

(1) Purchase accounts from the university for such consideration and upon such terms and conditions as the corporation shall determine;

(2) Pledge purchased accounts as security for any borrowings undertaken by the corporation or sell the accounts for such consideration and on such terms and conditions as the corporation shall determine;

(3) Borrow money and issue notes and provide for the rights of the holders thereof, and secure the notes by assignment, pledge, or granting of a security interest in accounts, including, without limitation, all or a part of its interest in accounts for the purpose of providing funds to effectuate its purposes under this chapter; and

(4) Create and establish such other fund or funds as may be necessary or desirable for its corporate purposes.
R.I. Gen. Laws § 35-10-1 — RI Code / Title 35 / Chapter 35-10 / Section 35-10-1
§ 35-10-1. Establishment  Membership  Officers  Quorum  Investment votes  Fund managers.
Status: in_force

(a) There is hereby authorized, created and established in the office of the general treasurer a state investment commission, the membership of which shall consist of the general treasurer, ex officio, or a deputy general treasurer as his or her designee, who shall act as chairperson, the director of administration, ex officio, or any assistant director of administration as his or her designee, who shall act as secretary, an active or retired teacher, state, or municipal employee member of the retirement system or official from the teacher, state, or municipal employee unions to be appointed by the general treasurer for a term of three (3) years, the executive director of the state retirement board, who shall be a nonvoting member, three (3) members of the general public to be appointed by the general treasurer, one of whom shall serve for an initial term of one year, and one of whom shall serve for an initial term of two (2) years and until his or her successor is appointed and qualified and three (3) members of the general public to be appointed by the governor, one of whom shall serve for an initial term of three (3) years, one of whom shall serve for an initial term of two (2) years, and one of whom shall serve for an initial term of one year and until his or her successor is appointed and qualified. Thereafter, the general public members shall serve for three (3) year terms and until his or her successor is appointed and qualified. The members of the general public appointed by the governor and the general treasurer shall be qualified by training or experience in the field of investment or finance.

The commission may elect from among its own members such other officers as they deem necessary. All general treasurer and gubernatorial appointments made under this section after the effective date of this act [July 4, 2006] shall be subject to the advice and consent of the senate. No one shall be eligible for appointment unless he or she is a resident of this state.

Public members of the board shall be removable by the chair for cause only, and removal solely for partisan or personal reasons unrelated to capacity or fitness for the office shall be unlawful.

Newly appointed and qualified public members shall, within six (6) months of their appointment, attend a training course that shall be developed and provided by the office of the general treasurer and shall include instruction in the following areas: the provisions of chapter 10 of title 35, chapter 46 of title 42, chapter 14 of title 36 and chapter 2 of title 38 of the Rhode Island general laws; and the boards rules and regulations. The director of the department of administration shall, within ninety (90) days of the effective date of this act [July 4, 2006], prepare and disseminate training materials relating to the provisions of chapter 46 of title 42, chapter 14 of title 36 and chapter 2 of title 38.

Any member of the general public who was appointed by the governor or general treasurer prior to the effective date of this act [July 4, 2006] shall continue to serve until such time as a successor is appointed and qualified.

(b) A member shall be eligible to succeed himself or herself. In the event of a vacancy in the office of an appointive member, the vacancy shall be filled by the appointing authority for the unexpired term.

(c) A majority of all the members of the commission shall be necessary to constitute a quorum thereof. The approval of a majority of the commission shall be required prior to the purchase or sale of any investment, excepting those investments made by investment managers engaged by the commission and invested in accordance with the commissions statement of investment objectives and policies, day to day cash investments by the general treasurer, and, because of the importance of speedy action, investments in obligations of the United States government or certificates of deposit maturing within one year. These investments may be made within the framework of a policy established by the commission without prior approval of each transaction. The commission shall be empowered to engage one or more fund managers and to delegate to the manager or managers the authority to carry out the investment of the funds within the commissions control, or any portion thereof, in accordance with the objectives of the commission as set forth in its statement of investment objectives and policies.

(d) The day-to-day administration of the commission, including the voting of proxies and the execution of investment acquisitions and dispositions of the commissions assets, shall be carried out by the office of the general treasurer; provided, that the costs and expenses incurred in the management of the funds within the commissions control shall remain the obligation of those funds and not that of the general treasurer.

(e) Within ninety (90) days after the end of each fiscal year during which the board has conducted business, the commission shall submit an annual report to the governor, the speaker of the house of representatives, the president of the senate, and the secretary of state of its activities during that fiscal year. The report shall provide: an operating statement summarizing meetings or hearings held, meeting minutes if requested, subjects addressed, decisions rendered, rules or regulations promulgated, studies conducted, policies and plans developed, approved, or modified, and programs administered or initiated; a consolidated financial statement of all the funds received and expended including the source of funds, a listing of any staff supported by these funds, and a summary of any clerical, administrative or technical support received; a summary of performance during the previous fiscal year including accomplishments, shortcomings and remedies; a synopsis of hearings, complaints, suspensions, or other legal matters related to the authority of the board; a summary of any training courses held pursuant to §35-10-1; a briefing on anticipated activities in the upcoming fiscal year; and findings and recommendations for improvements. The report shall be posted electronically on the general assembly and the secretary of states website as prescribed in §42-20-8.2. The director of the department of administration shall be responsible for the enforcement of this provision.
R.I. Gen. Laws § 35-6-2 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-2
§ 35-6-2. Uniform system of accounting  Establishment.
Status: in_force

The department of administration is authorized and directed to establish a uniform system of accounting for all state departments and agencies and to require all accounts of the departments and agencies to be kept in accordance therewith; provided, that in any case in which the uniform system of accounting is not practicable, the controller shall determine the manner in which the accounts shall be kept.
R.I. Gen. Laws § 35-12-9 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-9
§ 35-12-9. Security for notes.
Status: in_force

(a) The principal of and interest on any notes issued by the corporation may be secured by a pledge or assignment of any revenues and receipts of the corporation and may be secured by a security interest or other instrument covering all or any part of one or more accounts acquired by the corporation pursuant to the provisions of this chapter.

(b) The resolution under which the notes are authorized to be issued and the security interest or other instrument may contain agreements and provisions respecting the servicing of the loans covered thereby, the fixing and collection of payments or repayments or other revenues therefrom, the creation and maintenance of special funds from these revenues, and the rights and remedies available in the event of default, all as the corporation shall deem advisable.

(c) Each pledge, assignment, agreement, security interest, or other instrument made for the benefit or security of any of the notes of the corporation shall continue in effect until the principal of and interest on the notes for the benefit of which the notes was made shall have been fully paid, or until provision shall have been made for payment in the manner provided in the resolution under which the notes were authorized.

(d) Any pledge made by the corporation shall be valid and binding from the time it is made. The money, accounts, or property pledged and thereafter received by the corporation shall immediately be subject to the lien of the pledge without physical delivery or further act. The lien of the pledge shall be valid and binding against all parties having a claim in tort, contract, or otherwise against the corporation, irrespective of whether the parties have notice of the claim. Neither the resolution nor any instrument by which a pledge is created need be recorded.

(e) Any resolution under which notes of the corporation are authorized to be issued (and any trust indenture established thereby) may contain provisions for vesting in a trustee or trustees such properties, rights, powers, and duties in trust as the corporation may determine.
R.I. Gen. Laws § 35-6-12 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-12
§ 35-6-12. Disallowance of claims or accounts.
Status: in_force

Whenever any claim or account shall be disallowed by the state controller, he or she shall state upon or annex to the account or claim his or her reasons for disallowing the claim or account, and shall also keep a record thereof, or at least of the date, the amount, the name of the person presenting it, the nature or purport of the claim or account, and his or her reasons for disallowing it.
R.I. Gen. Laws § 35-12-16 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-16
§ 35-12-16. Annual report and audit.
Status: in_force

The corporation shall submit to the board of governors for higher education, within four (4) months after the close of its fiscal year, a report of its activities for the preceding fiscal year. The report shall set forth a complete operating and financial statement covering the corporations operations during the preceding fiscal year. The corporation shall cause an independent audit of its books and accounts to be made at least once each fiscal year.
R.I. Gen. Laws § 35-12-3 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-3
§ 35-12-3. Definitions.
Status: in_force

As used in this chapter, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent:

(1) Accounts means accounts receivable, representing amounts due or owing to the university from contracts with the federal government or other independent entities for research activities undertaken by the university, the obligation for the payment of which accounts has arisen.

(2) Corporation means the governmental agency and public instrumentality authorized, created, and established pursuant to § 35-12-4.

(3) Notes means the notes, securities, or other obligations or evidences of indebtedness issued by the corporation pursuant to this chapter, all of which shall be issued under the name of or known as obligations of the university of Rhode Island research corporation.

(4) State means the state of Rhode Island.

(5) University means the university of Rhode Island.
R.I. Gen. Laws § 35-2-1 — RI Code / Title 35 / Chapter 35-2 / Section 35-2-1
§ 35-2-1. State fiscal year.
Status: in_force

The fiscal year shall be deemed to include the twelve (12) calendar months from July to June, both inclusive.
R.I. Gen. Laws § 35-4-21 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-21
§ 35-4-21. Basic health plan trust account.
Status: in_force

There is hereby established in the general fund a separate account to be known as the basic health plan trust account, to which shall be deposited any surplus revenues which are approved by the governor and general assembly for this purpose. All moneys now or hereafter in the basic health plan trust account are hereby dedicated for the purpose of providing health insurance to the uninsured in this state. The department of health is charged with the administration of this fund to subsidize the purchase of basic health care benefits for low income Rhode Islanders. The amount of money credited to the basic health plan trust account shall not exceed three million dollars ($3,000,000) per fiscal year. All claims against the fund shall be examined, audited, and allowed in the manner now or hereafter provided by law for claims against the state.
R.I. Gen. Laws § 35-6-14 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-14
§ 35-6-14. Payments for compensation of jurors.
Status: in_force

The state controller, based upon a statement exhibited to him or her by the jury commissioner to the supreme court director of finance, may draw an order on the general treasurer in favor of the jury commissioner for a sum certain to pay the jurors for their travel and attendance at any session thereof in any of the state courts that may require juries, which sum shall be accounted for by the jury commissioner at the time of transmitting to the supreme court director of finance the accounts named in § 35-6-13.
R.I. Gen. Laws § 35-7-10 — RI Code / Title 35 / Chapter 35-7 / Section 35-7-10
§ 35-7-10. Audit provided for by finance committee of house.
Status: in_force

It shall be the duty of the finance committee of the house of representatives to provide annually for a complete post audit of the financial transactions and accounts of the state. The finance committee of the house of representatives shall be required to utilize the services of the auditor general to perform the post audit. The post audit shall commence as soon as possible after the close of each fiscal year and shall include the examination of all accounts from the date of the last post audit.
R.I. Gen. Laws § 35-14-3 — RI Code / Title 35 / Chapter 35-14 / Section 35-14-3
§ 35-14-3. Agency responsibilities.
Status: in_force

State agency heads are responsible for the establishment and maintenance of a system or systems of internal accounting and administrative control within their agencies. This responsibility includes:

(1) Documenting the system;

(2) Communicating system requirements to employees; and

(3) Assuring that the system is functioning as prescribed and is modified, as appropriate, for changes in conditions.
R.I. Gen. Laws § 35-15-1 — RI Code / Title 35 / Chapter 35-15 / Section 35-15-1
§ 35-15-1. Legislative findings.
Status: in_force

It is declared that, for the benefit of the people of the state, the conduct and increase of their commerce, the protection and enhancement of their welfare, the development of continued prosperity, and the improvement of their health and living conditions, it is essential that this and future generations be given the fullest opportunity to learn and to develop their intellectual skills and be given the fullest access to affordable housing. In order to achieve these ends it is important that Rhode Island citizens be provided with an investment opportunity to enhance their financial access to institutions of higher education and access to housing within this state. It is the intent of the general assembly to provide the people of the state with an alternative method of saving for the purpose of encouraging enrollment in institutions of higher education and for the purpose of encouraging the purchase of residential dwellings within the state.
R.I. Gen. Laws § 35-23-13 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-13
§ 35-23-13. Required favorable federal tax treatment.
Status: in_force

(a) The office of the general treasurer shall not implement the program if the IRA arrangements offered fail to qualify for the favorable federal income tax treatment ordinarily accorded to IRAs under the Internal Revenue Code, or if it is determined that the program is an employee benefit plan under the federal Employee Retirement Income Security Act.

(b) Prior to opening the program for enrollment, the office of the general treasurer shall report to the governor and the finance committees of the house and senate the specific date on which the program will start to enroll program participants and that the following prerequisites and requirements for the program have been met:

(1) The program is structured in a manner to keep the program from being classified as an employee benefit plan subject to the federal Employee Retirement Income Security Act;

(2) The payroll deduction IRA arrangements offered by the program qualify for the favorable federal income tax treatment ordinarily accorded to IRA arrangements under the Internal Revenue Code;

(3) The office of the general treasurer has defined in regulation the roles and responsibilities of employers in a manner to keep the program from being classified as an employee benefit plan subject to the federal Employee Retirement Income Security Act; and

(4) The office of the general treasurer has adopted a third-party administrator operational model that limits employer interaction and transactions with the employee to the extent feasible.
R.I. Gen. Laws § 35-1-1 — RI Code / Title 35 / Chapter 35-1 / Section 35-1-1
§ 35-1-1. Approval of agreements with federal agencies.
Status: in_force

No department or agency of the state shall enter into an agreement with a federal agency involving state funds without the approval of the director of the office of management and budget or his or her duly authorized agents.
R.I. Gen. Laws § 35-6-32 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-32
§ 35-6-32. Court clerks return of fines and penalties.
Status: in_force

Every clerk of a court shall, in accordance with § 8-15-9, make a daily return in writing to the supreme court director of finance of all fines collected by him or her due the state, and the amount and circumstances of the fines, if any, collected by the clerk; and shall also make a return of all penalties and costs in any civil or criminal suit or process due the state, which shall have come to or been in his or her hands since the preceding return, and the amount and circumstances of the penalties and costs.
R.I. Gen. Laws § 35-6-25 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-25
§ 35-6-25. Advance of estimated costs of witnesses before grand jury.
Status: in_force

At or before the summoning in of any grand jury in any county, and from time to time during any session thereof, the deputy sheriff may estimate the amount of money requisite for the payment of the witnesses, for the officers fees for summoning the witnesses, and for service of other criminal process in behalf of the state at any session, and until a grand jury shall again be summoned in, and, on the approval of an estimate by the attorney general, the state controller may, at any time not more than three (3) days before the summoning in of the grand jury, draw his or her order on the general treasurer in favor of the deputy sheriff for the amount of the estimated fees, and the general treasurer shall pay the order and charge fees to the account of the judicial expenses of the state.
R.I. Gen. Laws § 35-3-7 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-7
§ 35-3-7. Submission of budget to general assembly  Contents.
Status: in_force

(a) On or before the third Thursday in January in each year of each January session of the general assembly, the governor shall submit to the general assembly a budget containing a complete plan of estimated revenues and proposed expenditures, with a personnel supplement detailing the number and titles of positions of each agency and the estimates of personnel costs for the next fiscal year, and with the inventory required by § 35-1.1-3(b)(5). Provided, however, in those years that a new governor is inaugurated, the new governor shall submit the budget on or before the first Thursday in February. In the budget the governor may set forth in summary and detail:

(1) Estimates of the receipts of the state during the ensuing fiscal year under laws existing at the time the budget is transmitted and also under the revenue proposals, if any, contained in the budget, and comparisons with the estimated receipts of the state during the current fiscal year, as well as actual receipts of the state for the last two (2) completed fiscal years.

(2) Estimates of the expenditures and appropriations necessary in the governors judgment for the support of the state government for the ensuing fiscal year, and comparisons with appropriations for expenditures during the current fiscal year, as well as actual expenditures of the state for the last two (2) complete fiscal years; provided, further, in the event the budget submission includes any transfers of resources from public corporations to the general fund, the budget submission shall also include alternatives to said transfers.

(3) Financial statements of the:

(i) Condition of the treasury at the end of the last completed fiscal year;

(ii) Estimated condition of the treasury at the end of the current fiscal year; and

(iii) Estimated condition of the treasury at the end of the ensuing fiscal year if the financial proposals contained in the budget are adopted.

(4) All essential facts regarding the bonded and other indebtedness of the state.

(5) A report indicating those program revenues and expenditures whose funding source is proposed to be changed from state appropriations to restricted receipts, or from restricted receipts to other funding sources.

(6) Such other financial statements and data as in the governors opinion are necessary or desirable.

(b) Any other provision of the general laws to the contrary notwithstanding, the proposed appropriations submitted by the governor to the general assembly for the next ensuing fiscal year should not be more than five and one-half percent (5.5%) in excess of total state appropriations, excluding any estimated supplemental appropriations, enacted by the general assembly for the fiscal year previous to that for which the proposed appropriations are being submitted; provided that the increased state-share provisions required to achieve fifty percent (50%) state financing of local school operations as provided for in P.L. 1985, ch. 182, shall be excluded from the definition of total appropriations.

(c) Notwithstanding the provisions of subsection (a) of this section, the governor shall submit to the general assembly a budget for the fiscal year ending June 30, 2006, not later than the fourth (4th) Thursday in January 2005.

(d) Notwithstanding the provisions of subsection (a) of this section, the governor shall submit to the general assembly a supplemental budget for the fiscal year ending June 30, 2006, and/or a budget for the fiscal year ending June 30, 2007, not later than Thursday, January 26, 2006.

(e) Notwithstanding the provisions of subsection (a) of this section, the governor shall submit to the general assembly a supplemental budget for the fiscal year ending June 30, 2007, and/or a budget for the fiscal year ending June 30, 2008, not later than Wednesday, January 31, 2007.

(f) Notwithstanding the provisions of subsection (a) of this section, the governor shall submit to the general assembly a budget for the fiscal year ending June 30, 2012, not later than Thursday, March 10, 2011.

(g) Notwithstanding the provisions of subsection (a) of this section, the governor shall submit to the general assembly a budget for the fiscal year ending June 30, 2013, not later than Tuesday, January 31, 2012.

(h) Notwithstanding the provisions of subsection (a) of this section, the governor shall submit to the general assembly a budget for the fiscal year ending June 30, 2016, not later than Thursday, March 12, 2015.

(i) Notwithstanding the provisions of subsection (a) of this section, the governor shall submit to the general assembly a budget for the fiscal year ending June 30, 2022, not later than Thursday, March 11, 2021.
R.I. Gen. Laws § 35-18-5 — RI Code / Title 35 / Chapter 35-18 / Section 35-18-5
§ 35-18-5. Existing obligations.
Status: in_force

Nothing in this chapter is intended to interfere with the obligations of the state or any public corporation under any trust agreement, financing lease, or other agreement in effect on, or with respect to any bonds or other obligations outstanding on, January 1, 1995.
R.I. Gen. Laws § 35-24-7 — RI Code / Title 35 / Chapter 35-24 / Section 35-24-7
§ 35-24-7. Accounting for designated beneficiary  Claim for accounting.
Status: in_force

(a) The general treasurer shall establish in the Rhode Island baby bond trust an accounting for each designated beneficiary. Each such account shall include the amount transferred to the trust pursuant to § 35-24-8, plus the designated beneficiarys pro rata share of total net earnings from investments of sums as determined by the general treasurer and held in the trust.

(b) The department of human services shall notify the office of the general treasurer of the birth or enrollment of each designated beneficiary.

(c) Upon a designated beneficiarys eighteenth birthday, if such a beneficiary is a resident of the state and has been for the two (2) years immediately preceding receipt of any distribution under this section, such beneficiary shall become eligible to receive the total sum of the accounting under subsection (a) of this section to be used for eligible expenditures.

(d) A designated beneficiary must submit a claim that meets the requirements set forth in this chapter before the designated beneficiary reaches thirty-five (35) years of age.

(e) If a designated beneficiary is deceased before their eighteenth birthday, does not submit a timely claim, or is no longer a resident of the state upon reaching thirty-five (35) years of age, such accounting shall be credited back to the general fund of the state.

(f) The general treasurer shall furnish each eligible beneficiary with an annual statement relating to the individuals accounting, which shall include:

(1) A statement of the balance attributable to the individual;

(2) A projection of the balances growth by the time the individual attains the age of eighteen (18);

(3) Resources and information to promote financial wellness and literacy of the designated beneficiary; and

(4) Such other information as the general treasurer deems relevant.
R.I. Gen. Laws § 35-17-6 — RI Code / Title 35 / Chapter 35-17 / Section 35-17-6
§ 35-17-6. Report of meetings.
Status: in_force

The chairperson will be the sole source of any public announcement of the results from the conference. The final report will be prepared by the chairperson and distributed to conference participants not later than five (5) working days after adjournment.
R.I. Gen. Laws § 35-4-22.1 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-22.1
§ 35-4-22.1. Legislative appropriation authority.
Status: in_force

(a) No agency shall establish new programs, or expand existing programs, including any program involving nonstate monies, beyond the scope of those already established, recognized, and appropriated for by the general assembly until the program and the availability of money is submitted by the agency to the budget officer for recommendation to the general assembly.

(b) No state agency may make expenditures of any restricted or special revenue funds, whether these monies are received prior to expenditure or as reimbursement, unless these expenditures are made pursuant to specific appropriations of the general assembly.

(c) To the extent permitted by federal law, any federal funds or assistance appropriated, authorized, allocated, or apportioned to the state of Rhode Island shall be subject to appropriation by the general assembly except where otherwise provided in this chapter or chapter 41 of title 42.
R.I. Gen. Laws § 35-4-4.3 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-4.3
§ 35-4-4.3. State Linked Deposit Policy  Deposit of funds.
Status: in_force

The state, and its agencies and quasi-public authorities, shall invest or hold funds on deposit, whether temporarily or permanently, only at federally insured and regulated banks that are deemed to be financially sound or in money funds offered by banks directly or through their affiliates or subsidiaries, according to state investment commission rules, regulations, and guidelines and also in full compliance with the federal Community Reinvestment Act (CRA), 12 U.S.C. § 2901 et seq. Initially, full compliance shall mean that the bank has been reviewed at least once by the appropriate federal regulatory authority and has achieved the outstanding or satisfactory rating for compliance at the time of its latest review. Should a banks rating fall below satisfactory, the state shall have a reasonable amount of time to withdraw its funds. Preference will be given in the placement of state funds to those banks which have achieved a CRA rating of outstanding. A system for determining this preference will be established in writing by the general treasurer after consultation with the state investment commission.
R.I. Gen. Laws § 35-10-4 — RI Code / Title 35 / Chapter 35-10 / Section 35-10-4
§ 35-10-4. Funds not subject to investment.
Status: in_force

The commission shall not invest money in funds which are subject to the control of the council on postsecondary education; provided, however, that the commission shall not be prohibited from investing moneys in the college savings program created by § 16-57-6.1.
R.I. Gen. Laws § 35-23-2 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-2
§ 35-23-2. Definitions.
Status: in_force

As used in this chapter:

(1) Eligible employee means a person age eighteen (18) years or older who is employed by an eligible or optional employer and has been employed for a period of not less than one hundred twenty (120) days. Eligible employee does not include:

(i) Any employee covered under the federal Railway Labor Act (45 U.S.C. §§ 151164 and 45 U.S.C §§ 181188), or any employee engaged in interstate commerce not subject to the legislative powers of the state, except insofar as application of this chapter is authorized under the United States Constitution or laws of the United States; or

(ii) Any employee on whose behalf an employer makes contributions to a Taft-Hartley pension trust fund.

(2) Eligible employer means a person or entity engaged in a business, industry, profession, trade, or other enterprise in the state, whether for-profit or not-for-profit, excluding the federal government, the state, any municipal corporation, or any of the states units or instrumentalities, that has five (5) or more employees and that satisfies the requirements to establish or participate in a payroll deposit retirement savings arrangement. Eligible employer does not include an employer that provides a tax-qualified retirement savings program as described in § 35-23-9.

(3) IRA means an individual retirement account or individual retirement annuity under 26 U.S.C § 408 or § 408A (the federal Internal Revenue Code).

(4) Optional employer means a person or entity engaged in a business, industry, profession, trade, or other enterprise in the state, whether for-profit or not-for-profit, excluding the federal government, the state, any municipal corporation, or any of the states units or instrumentalities, that has under five (5) employees.

(5) Participating employer means an eligible or optional employer that provides a payroll deposit retirement savings arrangement provided for by this chapter for eligible employees.

(6) Payroll deposit retirement savings arrangement means an arrangement by which an employer allows employees to remit payroll deduction contributions to the RISavers retirement savings program.

(7) RISavers retirement savings program or program means a retirement savings program offered by the Rhode Island secure choice retirement savings program.

(8) State investment commission or commission means the state investment commission established pursuant to the provisions of § 35-10-1.
R.I. Gen. Laws § 35-11-4 — RI Code / Title 35 / Chapter 35-11 / Section 35-11-4
§ 35-11-4. Violation and penalty.
Status: in_force

Any person who with intent to defraud uses on a public security or an instrument of payment: (1) a facsimile signature, or any reproduction of it, of any authorized officer; or (2) any facsimile seal, or any reproduction of it, of this state or any of its departments, agencies, or other instrumentalities or of any of its political subdivisions; is guilty of a felony and shall be punished by a fine of not more than one thousand dollars ($1,000) or imprisoned not more than five (5) years, or both.
R.I. Gen. Laws § 35-6-40 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-40
§ 35-6-40. Payment of small claims against state in motor vehicle cases.
Status: in_force

Whenever any person has sustained injury to his or her person or damage to his or her property by reason of the negligent operation by any officer or employee of the state of a motor vehicle or other motorized equipment owned by the state, the person may file a claim for the injury or damage with the director of the department in which the state officer or employee is employed. If the director, after proper investigation of the facts, shall determine that the claim is proper, he or she may, with the approval of the attorney general and the director of administration, allow the claim, in whole or in part, but in no case in excess of one hundred dollars ($100), and the controller, upon receiving notice of the allowance, shall draw his or her order upon the general treasurer for the payment of such a sum as shall be allowed to the persons entitled thereto.
R.I. Gen. Laws § 35-12-20 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-20
§ 35-12-20. Severability.
Status: in_force

If any clause, sentence, paragraph, section, or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, that judgment shall not affect, impair, or invalidate the remainder of this chapter, but shall be confined in its operation to the clause, sentence, paragraph, section, or part directly involved in the controversy in which that judgment shall have been rendered.
R.I. Gen. Laws § 35-4-23 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-23
§ 35-4-23. Rhode Island capital plan funds.
Status: in_force

From the proceeds of any receipts transferred pursuant to the provisions of the Rhode Island Constitution, the state controller is authorized to create an account or accounts within the bond capital fund. These accounts shall be used to record expenditures from these receipts, which are authorized to be spent with the approval of the governor. Certain of these funds may be allocated to agencies for the purpose of completing preliminary planning studies for proposed projects. In the event the project is completed with funds appropriated from another source, the preliminary planning funds shall be returned to the bond capital fund and shall be placed in a revolving account for future reallocation. The intended use of the Rhode Island capital plan funds shall be determined through the annual capital and operating budget process.
R.I. Gen. Laws § 35-6-17 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-17
§ 35-6-17. Payments on private appropriations.
Status: in_force

All appropriations of a private nature made by the general assembly shall be payable on the check of the general treasurer, out of any funds in the treasury not otherwise appropriated, on the order of the state controller, and be charged to the account or accounts allowed by the general assembly.
R.I. Gen. Laws § 35-15-6 — RI Code / Title 35 / Chapter 35-15 / Section 35-15-6
§ 35-15-6. Authorization of additional terms.
Status: in_force

Notwithstanding any contrary provision of any general obligation bond act, the general treasurer, with the approval of the governor, is authorized and empowered to issue bonds in serial or term form in the name of and on behalf of the state, in amounts that will raise usable bond proceeds in an amount equal to the total amount for the projects authorized by the general obligation bond acts as has been approved by vote of the people.
R.I. Gen. Laws § 35-11-3 — RI Code / Title 35 / Chapter 35-11 / Section 35-11-3
§ 35-11-3. Use of facsimile seal.
Status: in_force

When the seal of this state or any of its departments, agencies, or other instrumentalities or of any of its political subdivisions is required in the execution of a public security or instrument of payment, an authorized officer may cause the seal to be printed, engraved, stamped, or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as the impression of the seal.
R.I. Gen. Laws § 35-4-26 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-26
§ 35-4-26. Funds received from vending machines, private donations, and investments.
Status: in_force

All funds received from store or vending machine profits, private donations which are not directed to other accounts, and investment earnings, excluding those earned in resident trust accounts, shall be deposited as general revenues. The agency shall, through the annual budget process, report to the general assembly the estimated amount for the next fiscal year, together with the intended use of the funds.
R.I. Gen. Laws § 35-6-5 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-5
§ 35-6-5. System in division of accounts and control  Monthly statements to departments.
Status: in_force

The state controller shall install and maintain a modern accounting system, concentrating in his or her office all major accounting and statistical information in connection therewith. At the end of each month, his or her division shall prepare detailed statements of receipts and disbursements in comparison with monthly estimates and allotments of appropriations, furnishing each department with copies of statements covering its operations for the preceding month, as well as estimates and allotments for the ensuing period.
R.I. Gen. Laws § 35-1-4 — RI Code / Title 35 / Chapter 35-1 / Section 35-1-4
§ 35-1-4. Agencies subject to fiscal supervision.
Status: in_force

The term department and agency, as used in this title, shall be deemed to include and be interpreted to mean any department, division, board, commission, commissioner, committee, agent, officer, person, or institution for whom an appropriation is made, or who is authorized to expend or to collect money for the state.
R.I. Gen. Laws § 35-9-2 — RI Code / Title 35 / Chapter 35-9 / Section 35-9-2
§ 35-9-2. Judah Touro fund.
Status: in_force

The following act as passed by the general assembly in March, 1879, shall continue in force:

Whereas, it has been made to appear to this general assembly that Judah Touro, formerly of New Orleans, deceased, made in his will the following bequest: I give and bequeath ten thousand dollars ($10,000) for the purpose of paying the salary of a reader or minister to officiate in the Jewish synagogue of Newport, Rhode Island, and to endow the ministry of the same, as well as to keep in repair and embellish the Jewish cemetery in Newport aforesaid, the said amount to be appropriated and paid or invested for that purpose in such manner as my executors may determine concurrently with the corporation of Newport aforesaid, if necessary; and it is my wish and desire that David J. Gould and Nathan H. Gould, sons of my esteemed friend, the late Isaac Gould, Esq., of Newport aforesaid, should continue to oversee the improvements in said cemetery and direct the same, and that said city of Newport accepted said bequest and that the said money was paid by the said executors to the persons authorized by said city to receive it, and the same, with accumulations, now stands invested in the name or in the hands of certain trustees of the Judah Touro ministerial fund, appointed by said city. And whereas it is desired that said city shall be expressly authorized to hold said trust property and perform the trusts thereof: Therefore,

It is enacted by the general assembly as follows:

§ 1. The said city of Newport, by its city council, is hereby empowered to demand, recover and receipt for and take and hold the property aforesaid, and to invest and keep invested the same in its name upon the trusts aforesaid, and to use and apply the same to and for the said trusts, with power to appoint and employ such officers and agents as may be needful or desirable for the care of said property and the proper performance of said trusts.
R.I. Gen. Laws § 35-3-9 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-9
§ 35-3-9. Action on bills by house committee  Hearings.
Status: in_force

The budget plan and bill or bills for proposed appropriations, when sent by the governor to the general assembly, shall be referred as soon as practicable to an appropriate committee of the house of representatives, and the committee shall forthwith proceed to the consideration of the bill. The committee shall hear the budget officer upon the bill as a whole or upon any item thereof or any proposed amendment thereto as each may elect, and the committee may summon the budget officer to appear before it and to furnish such information relative to the bill or any item therein, or any proposed amendment thereto, as it may require, and the committee may in its discretion hear the proper person representing any department or agency desiring to be heard with respect to any item or amendment in the bill relating to the department or agency; provided, that nothing contained in this section shall be construed to limit the right of the committee to hold public hearings upon the bill as a whole or upon any item therein, or to summon any person for examination regarding any item contained therein, or for the purpose of obtaining information necessary for a full and proper consideration of the bill. The committee, after the consideration of the bill, shall report the bill with its recommendation endorsed thereon to the house of representatives.
R.I. Gen. Laws § 35-17-2 — RI Code / Title 35 / Chapter 35-17 / Section 35-17-2
§ 35-17-2. Meetings.
Status: in_force

(a) The principles of the C.E.C. shall meet within the first ten (10) days of May, and November of each year.

(b) The primary purpose of regularly scheduled conferences is to forecast medical assistance and public assistance caseloads. The conference principals can agree, however, to address special legislation or special topics.

(c) Prior to each caseload estimating conference, the principals will determine the documentation and information necessary to support that conference.

(d) No votes will be taken in the caseload estimating conferences. These are truly consensus conferences and all principals must agree and are bound to the conference recommendations.
R.I. Gen. Laws § 35-23-14 — RI Code / Title 35 / Chapter 35-23 / Section 35-23-14
§ 35-23-14. Duties of the office of the general treasurer.
Status: in_force

The office of the general treasurer, commission, and the program administrator and staff, including, contract administrators and consultants, shall discharge their duties as fiduciaries with respect to the program for the exclusive purposes of providing benefits to program participants and defraying reasonable expenses of administering the program.
R.I. Gen. Laws § 35-16-2 — RI Code / Title 35 / Chapter 35-16 / Section 35-16-2
§ 35-16-2. Meetings.
Status: in_force

(a) The principals of the R.E.C. shall meet within the first ten (10) days of May and November of each year.

(b) The primary purpose of regularly scheduled conferences is to prepare economic forecasts and forecast revenue estimates and review current revenue collections under current tax law. The conference principals can agree, however, to address special legislation or special topics.

(c) Prior to each R.E.C., the principals will determine the documentation and information necessary to support that conference.

(d) No votes will be taken in the revenue estimating conferences. These are truly consensus conferences and all principals must agree and are bound to the conference recommendations.
R.I. Gen. Laws § 35-6-26 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-26
§ 35-6-26. Settlement of costs of state witnesses.
Status: in_force

Every officer receiving any money from the treasury for disbursement as provided in §§ 35-6-22  35-6-25 shall, within ten (10) days after the disposition of the criminal trials before juries for the session, or portion of the session, as the case may be, for which the money is obtained, record daily his or her disbursements of money and shall pay over any balance in his or her hands to the supreme court director of finance or receive any balance due him or her from the state.
R.I. Gen. Laws § 35-4-22.2 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-22.2
§ 35-4-22.2. Use of restricted or special revenue funds.
Status: in_force

(a) Any restricted or special revenue funds that are received by a state agency that is not otherwise appropriated to that state agency by the annual appropriation acts of the regular session of the general assembly are hereby appropriated for that state agency for the purpose set forth, except that no expenditure shall be made from and no obligation shall be incurred against any restricted receipts or special revenue fund that has not been previously appropriated or reappropriated or approved by the governor, the speaker of the house, and the president of the senate, until that authorization has been transmitted to the state agency to make expenditure therefrom.

(b) State agencies desiring the governors approval to expend or obligate receipts not appropriated or reappropriated by the general assembly in the annual appropriation act or supplemental appropriation act shall forward a request to the state budget officer, who shall forward a copy to the speaker of the house and the president of the senate.

(c) Notwithstanding any law to the contrary, the budget officer is hereby authorized to create restricted receipt accounts within the budget of any state agency to account for the receipt and expenditure of a multistate settlement administered by the office of the attorney general. Expenditures from these accounts shall remain subject to the provisions of §§ 35-4-22, 35-4-22.1, 35-4-22.2, and 35-4-27.

(d) Upon the directive of the controller, with the consent of the auditor general, the budget officer is hereby authorized to convert any escrow liability accounts that were established before July 1, 2021, to a restricted receipt account.
R.I. Gen. Laws § 35-10-11 — RI Code / Title 35 / Chapter 35-10 / Section 35-10-11
§ 35-10-11. Additional investment powers.
Status: in_force

The state, any state agency, any city or town, and any municipal agency which has, or has control of, any funds not immediately required for other purposes may, in addition to other investments in which it may be authorized to invest by law, and notwithstanding any provisions of any special law or municipal charter to the contrary, invest these funds, either individually or with each other, in:

(1) Deposits in banks, savings banks, national banks or trust companies, loan and investment companies, credit unions; and in shares of building-loan associations; the principal office of which institution or institutions is located in this state or which has a deposit-taking facility within this state; provided, that the investments shall be made as would be done by prudent persons of discretion and intelligence in these matters who are seeking a reasonable income and preservation of their capital;

(2) Shares or units of beneficial interest of any open end investment company or association or investment trust which is registered under the federal Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq.; provided, that the company, association, or trust shall:

(i) Limit the issuance, distribution, and ownership of its shares or units solely to this state, state agencies, cities and towns of this state, and municipal agencies thereof, other than shares or units issued in connection with the initial capital required by the federal Investment Company Act of 1940;

(ii) Invest solely in securities and investments which are lawful for investments of savings deposits as set forth and defined in chapter 3 of title 19, without regard to the provisions of this chapter as to percentage of deposits which may be so invested, or are lawful for investment of reserve funds by cities and towns under § 45-11-1, but subject to the restrictions that:

(A) No investment shall be made in any security or investment authorized under chapter 3 of title 19, unless, after giving effect to the investment, no more than ten percent (10%) of the total assets of the company, association, or trust shall be invested in securities or investments of a class or type authorized solely under this chapter;

(B) No investment shall be made in any security or investment authorized under chapter 3 of title 19, unless, after giving effect to the investments, no more than five percent (5%) of the total assets shall be invested in the securities or investments authorized solely under this chapter of any one issuer or obligor; and

(C) If the lawful investments constitute collateral for any repurchase agreement, the company, association, or trust shall take delivery of the collateral either directly or through an authorized custodian; and

(iii) Invest solely in such of the investments as would be done by prudent persons of discretion and intelligence in these matters who are seeking a reasonable income and preservation of their capital; and

(3) Notwithstanding the provisions of paragraphs (1), (2)(ii)(A), and (2)(ii)(B), in:

(i) Obligations issued or guaranteed by the United States government or any agency or instrumentality thereof and repurchase agreements fully collateralized thereby, or in securities of any open end investment company or association or investment trust, custodial arrangement, or pool which is registered under or exempt from the federal Investment Company Act of 1940, provided, that the portfolio of the company, association, trust, custodial arrangement, or pool is limited to obligations issued or guaranteed by the United States government or any agency or instrumentality thereof and repurchase agreements fully collateralized thereby and that the company, association, trust, custodial arrangement, or pool takes delivery of the collateral either directly or through an authorized custodian, agent, or depository; and

(ii) Any security of a state or political subdivision thereof, or in securities of any open end investment company or association or investment trust, custodial arrangement, or pool which is registered under or exempt from the federal Investment Company Act of 1940, provided, that

(A) The portfolio of the company, association, trust, custodial arrangement, or pool is limited to state or political subdivision securities and repurchase agreements fully collateralized thereby;

(B) The company, association, trust, custodial arrangement, or pool takes delivery of the collateral either directly or through an authorized custodian or depository;

(C) The interest on the securities is exempt from federal income taxation;

(D) At the time of the investment, the security (in the case of a security issued by or on behalf of a state or political subdivision thereof) has a rating as determined by a national rating agency of municipal obligations equal or superior to the last rating by the agency applicable to general obligations of the state or (in the case of a fund) the fund invests solely in securities having these ratings;

(E) In connection with the investments, the state, state agency, city, town, or municipal agency may enter into contracts to purchase and resell the investments at specified or determinable prices.

(4) Notwithstanding the provisions of subdivision (1), in certificates of deposit obtained in accordance with the following conditions:

(i) The funds are initially invested through a financial institution as defined in subdivision 19-1-1(7) or chapter 19-1, selected by the investing governmental entity;

(ii) The selected financial institution arranges for the deposit of the funds in certificates of deposit in one or more federally insured banks or savings and loan associations, for the account of the governmental entity;

(iii) The full amount of the principal and accrued interest of each certificate of deposit is insured by the Federal Deposit Insurance Corporation;

(iv) The selected financial institution acts as custodian for the governmental entity with respect to the certificates of deposit issued for the governmental entitys account; and

(v) At the same time that the governmental entitys funds are deposited and the certificates of deposit are issued, the selected financial institution receives an amount of deposits from customers of other banks and savings and loan associations, wherever located, equal to the amount of funds initially invested by the governmental entity through the selected financial institution.

(5) Public deposits placed in accordance with the conditions prescribed in this subsection shall not be required to be secured by eligible collateral as set forth in chapter 35-10.1.
R.I. Gen. Laws § 35-4-20.2 — RI Code / Title 35 / Chapter 35-4 / Section 35-4-20.2
§ 35-4-20.2. Contribution of money from water development fund  Exemptions where federal assistance suspended.
Status: in_force

(a) Should any state fund be the recipient of contributions, either by the matching of state funds or by a general donation to state funds, and the payment of money into the general fund should cause the fund to lose federal assistance, the governor shall certify to the state treasurer that the fund is for that reason exempt from the force and effect of §§ 35-4-20  35-4-20.3.

(b) Should it be determined by the director of administration that, by reason of payments already made into the general fund by any fund under this chapter, the fund is subject to the loss of federal assistance, then the governor shall certify to the state treasurer that the fund is exempt from the provisions of §§ 35-4-20  35-4-20.3, and the state treasurer shall thereupon refund and pay over to the fund any amount or amounts previously paid into the general fund by that fund.
R.I. Gen. Laws § 35-8-25 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-25
§ 35-8-25. Extinguishment of authorized but unissued debt.
Status: in_force

(a) Any special act of the state which:

(1) Authorizes the issuance of general obligation bonds or notes of the state;

(2) Has a balance which remains unissued; and

(3) Is seven (7) years or older;

shall become invalid, but only as to that portion which remains unissued. The seven (7) year period shall be measured form the date the debt authorization was approved by the vote of the people.

(b) Notwithstanding subsection (a) of this section, the general assembly by special act may extend any authorization for a period of one to five (5) years, upon a petition of the department of administration. The extension may be granted one or more times.

(c) Upon certification by the general treasurer to the governor, debt authorizations described in subsection (a) of this section and not extended under the provisions of subsection (b) of this section shall no longer be deemed or be counted toward the authorized but unissued debt of the state. No petition under subsection (b) of this section may be made with respect to any authorization the expiration of which has been so certified.

(d) Upon the disbursement of sinking funds to replace the unissued general obligation debt authorization, the replaced unissued general obligation debt authorization shall be extinguished in the amount equal to the disbursement from the sinking fund.
R.I. Gen. Laws § 35-3-20 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-20
§ 35-3-20. State budget reserve and cash stabilization account.
Status: in_force

(a) There is hereby created within the general fund a state budget reserve and cash stabilization account, which shall be administered by the state controller and which shall be used solely for the purpose of providing such sums as may be appropriated to fund any unanticipated general revenue deficit caused by a general revenue shortfall.

(b) In carrying out the provisions of § 35-3-20.1, the state controller shall, based on that fiscal years estimate, transfer the amounts needed to fund cash requirements during the fiscal year; the transfer shall be adjusted at the end of the fiscal year in order to conform to the requirements of § 35-3-20.1. To the extent that funds so transferred are not needed by the Rhode Island Capital Plan fund the funds may be loaned back to the general fund.

(c) For the fiscal year ending June 30, 2009, whenever the aggregate of the monies and securities held for the credit of the state budget reserve and cash stabilization account exceeds three and four tenths of one percent (3.4%) of total fiscal year resources, consisting of the aggregate of (1) actual revenues from taxes and other departmental general revenue sources; and (2) the general revenue balance available for appropriations at the beginning of the fiscal year; the excess shall be transferred to the Rhode Island Capital Plan fund, to be used solely for capital projects. Provided further, the applicable percentage shall increase by four-tenths of one percent (.4%) for the succeeding four (4) fiscal years as follows:

Fiscal year ending June 30, 2010 3.8%

Fiscal year ending June 30, 2011 4.2%

Fiscal year ending June 30, 2012 4.6%

Fiscal years ending June 30, 2013, and thereafter 5.0%

(d) At any time after the third quarter of a fiscal year, that it is indicated that total resources which are defined to be the aggregate of estimated general revenue, general revenue receivables, and available free surplus in the general fund will be less than the estimates upon which current appropriations were based, the general assembly may make appropriations from the state budget reserve and cash stabilization account for the difference between the estimated total resources and the original estimates upon which enacted appropriations were based, but only in the amount of the difference based upon the revenues projected at the latest state revenue estimating conference pursuant to chapter 16 of this title as reported by the chairperson of that conference.

(e) Whenever a transfer has been made pursuant to subsection (d), that transfer shall be considered as estimated general revenues for the purposes of determining the amount to be transferred to the Rhode Island Capital Plan fund for the purposes of § 35-3-20.1(b).

(f) Whenever a transfer has been made pursuant to subsection (d), the amount of the transfer shall be transferred to the Rhode Island Capital Plan fund from funds payable into the general revenue fund pursuant to § 35-3-20.1 in the fiscal year following the fiscal year in which the transfer was made, except that in fiscal year 2010 there shall be no repayment of the amount transferred, and the repayment shall be made in fiscal year 2011.
R.I. Gen. Laws § 35-6-29 — RI Code / Title 35 / Chapter 35-6 / Section 35-6-29
§ 35-6-29. Orders for payment of fees due in criminal cases.
Status: in_force

The state controller may deliver to the clerk of each district court, to wardens, and to the clerks of the superior court, except the clerk of the superior court in the county of Providence, orders for fees of officers and witnesses in criminal prosecutions allowed by the courts, and by the controller found to be due to the officers and witnesses from the state; and the justices, wardens, and clerks, upon application therefor, shall deliver the orders to the officers and witnesses entitled to them.
R.I. Gen. Laws § 35-8-28 — RI Code / Title 35 / Chapter 35-8 / Section 35-8-28
§ 35-8-28. Interest earnings on state bonded indebtedness  Federal requirements.
Status: in_force

Notwithstanding any general or public law or rule to the contrary, income from investments in the capital development fund may be applied to capital purposes and shall not become part of the general fund of the state to the extent necessary to exempt (in whole or in part) the interest paid on such bonds or notes from federal taxation, to preserve and maintain any federal tax credits associated with such bonds or notes, or to preserve or maintain any refundable tax credits paid or to be paid to the state with regard to such bonds or notes.
R.I. Gen. Laws § 35-3-4.1 — RI Code / Title 35 / Chapter 35-3 / Section 35-3-4.1
§ 35-3-4.1. Department of transportation budget  Tort claims.
Status: in_force

In submitting the estimates for expenditures and requests for appropriations, the director of the department of transportation shall provide an estimate of the funds necessary for paying tort claims made pursuant to § 24-8-35.
R.I. Gen. Laws § 35-20-2 — RI Code / Title 35 / Chapter 35-20 / Section 35-20-2
§ 35-20-2. Policy.
Status: in_force

(a) The legislature hereby finds that:

(1) Fraud and errors in public and quasi-public programs are more likely to occur from a lack of sufficient internal control structures in the state-authorized public corporations.

(2) Effective internal control structures provide the basic foundation upon which public accountability must be built.

(3) An entitys system of internal control structures consists of policies and procedures designed to provide management with reasonable assurance that the agency achieves its objectives and goals including:

(i) Reliability of financial reporting;

(ii) Compliance with applicable laws and regulations; and

(iii) Effectiveness and efficiency of operations.

(4) Internal control structures are necessarily dynamic and must be continuously evaluated and, where necessary, improved.

(5) Reports addressing the adequacy of the internal control structure of each public corporation are necessary to enable the executive branch, the legislature, and the public to evaluate the corporations performance of its public and quasi-public responsibilities and accountability.

(b) The legislature declares that:

(1) The management of each public corporation is responsible for establishing and maintaining an adequate internal control structure and policies and procedures for financial reporting.

(2) Each public corporation shall perform an assessment and produce a report on the effectiveness of the internal control structure and procedures for financial reporting and, when detected, control weaknesses must be promptly corrected.

(3) All levels of management of the public corporation must be involved in assessing and strengthening the systems of internal control structures to minimize fraud, errors, abuse, and waste of public and quasi-public funds.
R.I. Gen. Laws § 35-12-4 — RI Code / Title 35 / Chapter 35-12 / Section 35-12-4
§ 35-12-4. Creation  Powers  Construction of chapter  Termination.
Status: in_force

(a) There is hereby authorized, created, and established a public corporation of the state having a legal existence distinct from the state and not constituting a department of state government, to be known as the university of Rhode Island research corporation, with such powers as are set forth in this chapter, for the purposes of purchasing, taking, or acquiring accounts of the university, selling these accounts, and borrowing funds secured by these accounts.

(b) It is the intent of the general assembly by the passage of this chapter to vest in the corporation all powers, authority, rights, privileges, and titles which may be necessary to enable it to accomplish the purposes set forth in this chapter, and this chapter and the powers granted hereby shall be liberally construed in conformity with these purposes.

(c) The corporation and its corporate existence shall continue until terminated by law or until the corporation shall cease entirely and continuously to conduct or be involved in any business whatsoever in furtherance of its purposes; provided, that no termination shall take effect so long as the corporation shall have notes or other obligations outstanding, unless adequate provision shall have been made for the payment thereof pursuant to the documents securing the obligations or to that law. Upon termination of the existence of the corporation, all its rights and properties shall pass to and be vested in the university. At no time shall the assets or other property of the corporation inure to the benefit of any person or other corporation or entity.