(1)As used in this section,
state agency means a state agency that submits a budget request to the joint
budget committee in accordance with section 2-3-208, whether the request is
submitted directly by the state agency or by the office of state planning and
budgeting on behalf of the state agency.
(2)Each state agency shall develop a long-range financial plan on or before
November 1, 2019, and update the plan on or before November 1 of each of the next
four years thereafter. The purpose of the long-range financial plan is to:
(a)Require the state agency to anticipate and strategically plan for future
contingencies that may impact the state agency's ability to meet its performance
goals;
(b)Assist the state agency as it prepares its annual budget request;
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(1) As used in this section,
state agency means a state agency that submits a budget request to the joint
budget committee in accordance with section 2-3-208, whether the request is
submitted directly by the state agency or by the office of state planning and
budgeting on behalf of the state agency.
(2) Each state agency shall develop a long-range financial plan on or before
November 1, 2019, and update the plan on or before November 1 of each of the next
four years thereafter. The purpose of the long-range financial plan is to:
(a) Require the state agency to anticipate and strategically plan for future
contingencies that may impact the state agency's ability to meet its performance
goals;
(b) Assist the state agency as it prepares its annual budget request;
(c) Provide additional information to the general assembly so that it can
appropriate money in light of possible future changes; and
(d) Provide notice to the public about the potential growth or decline of state
government in the future.
(3) The department of state, the department of treasury, the department of
law, and the judicial branch shall each publish the required components of the long-range financial plan for their respective state agencies. The office of state planning
and budgeting shall publish the required components of the long-range financial
plan in its annual budget instructions for all other state agencies. A long-range
financial plan submitted pursuant to this subsection (3) may include the following
components:
(a) A statement of the state agency's mission;
(b) A description of the major functions of the state agency;
(c) A description of the state agency's performance goals;
(d) A performance evaluation of the state agency's major programs,
including an identification of programs that may not be meeting the program
objectives or performance goals, and a recommendation on strategies to improve
performance;
(e) A description of anticipated trends, conditions, or events that could
impact the ability of the state agency to meet its goals and objectives; and
(f) A description of any programs currently funded in whole or in part with
federal funds or gifts, grants, or donations that the department anticipates will
decrease in the future and, therefore, may require state money as a backfill.
(4) Each state agency shall submit a copy of its long-range financial plan to
the joint budget committee along with its budget request that is submitted in
accordance with section 2-3-208; except that, if the office of state planning and
budgeting submits a budget request on behalf of a state agency, the office may
also submit the state agency's long-range financial plan.
(5) Notwithstanding section 24-1-136 (11)(a)(I), the requirement to update and
submit the long-range financial plan continues as set forth in subsection (2) of this
section. A long-range financial plan remains in effect until it is updated for the next
state fiscal year. To the extent possible, the state agency shall utilize information
that is included in the state agency's annual performance report prepared in
accordance with section 2-7-205.
(6) Each state agency shall post its long-range financial plans on its official
website at the same time it is submitted to the joint budget committee.