Governor Perdue Signs Legislation Realigning State's Financial Reporting System

ATLANTA – Governor Sonny Perdue signed today House Bill 293, which codifies the realignment of the state's financial reporting and financial system responsibilities under a single State Accounting Officer (SAO). The State Accounting Office will be responsible for the following duties:

• Establish statewide accounting and reporting standards and practices
• Operate and improve statewide financial and human capital management systems
• Prepare the state's Comprehensive Annual Financial Report (CAFR); the annual audited financial statement for the entire state entity.
• Provide statewide financial information on interim basis.
• Train state accounting and payroll personnel in new polices, procedures and standards.
• Improve accountability, efficiencies and internal controls.

In October of 2004, Governor Perdue appointed Lynn H. Vellinga to serve as the State Accounting Officer. Vellinga immediately began organizing the State Accounting Office by transferring personnel and resources from the Audit Department, the Financial Systems Group of the Technology Authority and the Office of Planning and Budget to create the Accounting Department. Prior to the 2005 legislative session , the State Accounting Office drafted important legislation to permanently establish the Accounting department by statute.

As a primary goal, the accounting staff has met with all state agencies to set up procedures for completing the state's financial statements for this year (FY2005) within six or seven months of year end, instead of the previous standard twelve month period.

Vellinga and his team have also initiated the following:

· Implemented a new help desk phone system that allows for the creation and tracking of performance measures;

· Incorporated GTA Financial Systems into the State Accounting Office; and

· Made necessary upgrades to improve the efficiency and integrity of all State Accounting Office programs.

With the signing of HB293, The State Accounting Office can conclude its organization and achieve its goals of completing the CAFR by December 31, 2005, issuing policies on accounts receivable and developing change management plans and process for improved cash management. HB293 is effective upon the Governor's signature.