The department shall provide for the efficient management and administration of the financial resources of state government and shall have and assume the following powers and duties:
1.Centralized accounting and payroll system. To assume the responsibilities related to a centralized accounting system for state government and to establish a centralized payroll system for all state agencies. However, the state board of regents and institutions under the control of the state board of regents shall not be required to utilize the centralized payroll system.2.Cost allocation system. To establish a cost allocation system as provided in section 8A.505.3.Collection and payment of funds - monthly payments. To control the payment of all moneys into the state treasury, and all payments from the state treasury by the preparation of appropriate warrants, or warrant checks, directing such collections and payment, and to advise the treasurer of state monthly in writing of the amount of public funds not currently needed for operating expenses. Whenever the state treasury includes state funds that require distribution to counties, cities, or other political subdivisions of this state, and the counties, cities, and other political subdivisions certify to the director that warrants will be stamped for lack of funds within the thirty-day period following certification, the director may partially distribute the funds on a monthly basis. Whenever the law requires that any funds be paid by a specific date, the director shall prepare a final accounting and shall make a final distribution of any remaining funds prior to that date.4.Preaudit system. To establish and fix a reasonable imprest cash fund for each state department and institution for disbursement purposes where needed. These revolving funds shall be reimbursed only upon vouchers approved by the director. It is the purpose of this subsection to establish a preaudit system of settling all claims against the state, but the preaudit system is not applicable to any of the following: a. Institutions under the control of the state board of regents.b. The state fair board as established in chapter 173.c. The Iowa dairy industry commission as established in chapter 179, the Iowa beef cattle producers association as established in chapter 181, the Iowa pork producers council as established in chapter 183A, the Iowa egg council as established in chapter 184, the Iowa turkey marketing council as established in chapter 184A, the Iowa soybean association as provided in chapter 185, and the Iowa corn promotion board as established in chapter 185C.5.Audit of claims. To set rules and procedures for the preaudit of claims by individual agencies or organizations. The director reserves the right to refuse to accept incomplete or incorrect claims and to review, preaudit, or audit claims as determined by the director.6.Contracts. To certify, record, and encumber all formal contracts to prevent overcommitment of appropriations and allotments. 7.Accounts. To keep the central budget and proprietary control accounts of the general fund of the state and special revenue funds, as defined in section 8.2, of the state government. The recognition of revenues received and expenditures paid and transfers received and paid within the time period required pursuant to section 8.33 shall be in accordance with generally accepted accounting principles. Budget accounts are those accounts maintained to control the receipt and disposition of all funds, appropriations, and allotments. Proprietary accounts are those accounts relating to assets, liabilities, income, and expense. For each fiscal year, the financial position and results of operations of the state shall be reported in an annual comprehensive financial report prepared in accordance with generally accepted accounting principles, as established by the governmental accounting standards board.8.Fair board and board of regents. To control the financial operations of the state fair board and the institutions under the state board of regents: a. By charging all warrants issued to the respective educational institutions and the state fair board to an advance account to be further accounted for and not as an expense which requires no further accounting.b. By charging all collections made by the educational institutions and state fair board to the respective advance accounts of the institutions and state fair board, and by crediting all such appropriated receipts to the respective appropriations and special revenue funds.c. By charging all disbursements made to the respective allotment accounts of each educational institution or state fair board and by crediting all such disbursements to the respective advance and inventory accounts.d. By requiring a monthly abstract of all receipts and of all disbursements, both money and stores, and a complete account current each month from each educational institution and the state fair board.9.Entities representing agricultural producers. To control the financial operations of the Iowa dairy industry commission as provided in chapter 179, the Iowa beef cattle producers association as provided in chapter 181, the Iowa pork producers council as provided in chapter 183A, the Iowa egg council as provided in chapter 184, the Iowa turkey marketing council as provided in chapter 184A, the Iowa soybean association as provided in chapter 185, and the Iowa corn promotion board as provided in chapter 185C.10.Custody of records. To have the custody of all books, papers, records, documents, vouchers, conveyances, leases, mortgages, bonds, and other securities appertaining to the fiscal affairs and property of the state, which are not required to be kept in some other office.11.Interest of the permanent school fund. To transfer the interest of the permanent school fund to the credit of the interest for Iowa schools fund.12.Forms. To prescribe all accounting and business forms and the system of accounts and reports of financial transactions by all departments and agencies of the state government other than those of the legislative branch.13.Federal Cash Management and Improvement Act administrator.a. To serve as administrator for state actions relating to the federal Cash Management and Improvement Act of 1990, Pub. L. No. 101-453, as codified in 31 U.S.C. § 6503. The director shall perform the following duties relating to the federal law: (1) Act as the designated representative of the state in the negotiation and administration of contracts between the state and federal government relating to the federal law.(2) Modify the centralized statewide accounting system and develop, or require to be developed by the appropriate departments of state government, the reports and procedures necessary to complete the managerial and financial reports required to comply with the federal law.b. There is annually appropriated from the general fund of the state to the department an amount sufficient to pay interest costs that may be due the federal government as a result of implementation of the federal law. This paragraph does not authorize the payment of interest from the general fund of the state for any departmental revolving, trust, or special fund where monthly interest earnings accrue to the credit of the departmental revolving, trust, or special fund. For any departmental revolving, trust, or special fund where monthly interest is accrued to the credit of the fund, the director may authorize a supplemental expenditure to pay interest costs from the individual fund which are due the federal government as a result of implementation of the federal law. 2003 Acts, ch 145, § 84; 2004 Acts, ch 1086, § 8; 2005 Acts, ch 179, § 104, 105; 2008 Acts, ch 1032, § 114, 201; 2010 Acts, ch 1193, § 30, 31; 2011 Acts, ch 122, § 40; 2020 Acts, ch 1064, §2, 28; 2020 Acts, ch 1118, § 73, 74; 2022 Acts, ch 1045, §3
Amended by 2024 Iowa, ch Chapter 1185,s 93, eff. 7/1/2024.Amended by 2024 Iowa, ch Chapter 1185,s 92, eff. 7/1/2024.Amended by 2022 Iowa, ch 1045, s 3, eff. 7/1/2022.Amended by 2020 Iowa, ch 1064, s 2, eff. 1/1/2021.2003 Acts, ch 145, §84; 2004 Acts, ch 1086, §8; 2005 Acts, ch 179, §104, 105; 2008 Acts, ch 1032, §114, 201; 2010 Acts, ch 1193, §30, 31; 2011 Acts, ch 122, §40Referred to in §8.31, 8A.111, 218.85
2020 strike of former subsection 2 is effective on the date of rules adopted by the department of revenue to implement 2020 Acts, ch 10642020 Acts, ch 1064, see 2020 Acts, ch 1064, § 28; 2020 Acts, ch 1118, § 73, 74; the Code editor received notice that the system designed to implement the setoff procedures established in 2020 Acts, ch 1064, and the accompanying rules, will be operational on November 13, 2023; rules governing transition, see 2020 Acts, ch 1118, § 72
Subsection 2 stricken and former subsections 3 - 14 renumbered as 2 - 13