HB 1528-S - DIGEST
(DIGEST AS ENACTED)
Directs the state treasurer to take such actions as are necessary to ensure the effective cash management of public funds.
Revises the treasury income account to be in accord with the requirements of the federal cash management improvement act of 1990.
Repeals RCW 43.08.085, and 28B.10.290.
VETO MESSAGE ON HB 1528-S
May 18, 1993
To the Honorable Speaker and Members,
The House of Representatives of the State of Washington
Ladies and Gentlemen:
I am returning herewith, without my approval as to section 10, Substitute House Bill No. 1528 entitled:
"AN ACT Relating to cash management;"
Section 10 of Substitute House Bill No. 1528 requires the State Treasurer to prepare and submit to the Legislature a cost-benefit report on the implementation of this act. While I agree the information generated by such an analysis would be useful, I question the need for a specific statutory requirement for the Treasurer to perform this duty. Of primary concern is that no additional funds were provided to the Treasurer for this function. With agencies facing severe funding and staffing limitations in the coming biennium, the resources available to carry out these kinds of duties will be in short supply.
Also, some of the required study items in section 10 relate to functions assigned to the Office of Financial Management, so the requirement that the State Treasurer submit the report is somewhat misdirected. Much of the information should be developed and submitted jointly by the State Treasurer and the Office of Financial Management. I have, therefore, directed the Office of Financial Management to work with the State Treasurer's office to provide the legislative fiscal committees with progress reports, as needed, on the implementation of this act.
For these reasons, I have vetoed section 10 of Substitute House Bill No. 1528.
With the exception of section 10, Substitute House Bill No. 1528 is approved.
Respectfully submitted,
Mike Lowry
Governor