Fla. Admin. Code Ann. R. 5J-17.102 - Financial Integrity of the Board
(1)
For the purposes of this chapter, the following definitions shall apply:
(a) "Anticipated costs" means the projected
direct and indirect costs and administrative overhead of the Board based upon
the current fiscal year's legislative appropriation enactment and other
anticipated initiatives.
(b)
"Reasonable cash balance" means a positive cash balance which must exist at the
end of each fiscal year, plus and minus the Department's projections of revenue
and expenditures of the Board for the next 24-month period.
(c) "Projection" means the Department's
projected cash balance for the Board based upon the Board's projected revenues
including license fees, application fees, examination fees, and fines, and the
Department's projected anticipated costs for the Board.
(2) The Department shall notify the Board
when the Board's license fees are inadequate to maintain a reasonable cash
balance based upon the Department's projection.
(3) When sufficient action is not taken by
the Board within one calendar year of notification as required in subsection
(1), the Department shall set license fees on behalf of the board to cover all
anticipated costs and to maintain a reasonable cash balance.
(4) The Department is authorized to permit a
temporary loan of funds to the Board, if the Board is operating at a deficit.
Any request for a loan shall be made to the Director of the Division of
Consumer Services and shall state:
(a) That
the Board is currently operating at a deficit; and,
(b) That the Board has already assessed a
one-time fee to eliminate the cash deficit or to maintain the financial
integrity of the Board within the last fiscal year.
(5) Upon verification of the information
stated in the request, the Department shall loan funds sufficient to maintain a
reasonable cash balance.
(6) No
action taken under this section will extend beyond two years. All loans
authorized under this section will be repaid by the Board within two years from
the date of the loan. All loans authorized under this section will be repaid
with interest calculated at the then prevailing rates paid for investments in
the State Treasury to the credit of the General Inspection Trust Fund of the
Department of Agriculture and Consumer Services.
Notes
Rulemaking Authority 472.008, 472.011 FS. Law Implemented 472.011 FS.
New 10-17-12.
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