5J-17.102. Financial Integrity of the Board  

Effective on Wednesday, October 17, 2012
  • 1(1) For the purposes of this chapter, the following definitions shall apply:

    13(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.

    42(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.

    79(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.

    114(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.

    139(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.

    183(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:

    226(a) That the Board is currently operating at a deficit; and

    237(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.

    266(5) Upon verification of the information stated in the request, the Department shall loan funds sufficient to maintain a reasonable cash balance.

    288(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.

    362Rulemaking Authority 364472.008, 365472.011 FS. 367Law Implemented 369472.011 FS. 371History–New 10-17-12.


Rulemaking Events:

Related Statutes: