Program A: Administrative

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Program A: Administrative

Program Authorization: La. Constitution, Article IV, Section 9; R.S. 36:761 and 764

PROGRAM DESCRIPTION

The mission of the Administrative Program is to provide the leadership, support, and oversight necessary to be responsible for and manage, direct, and ensure the effective and efficient operation of the programs within the Department of the Treasury, Office of State Treasurer, to the benefit of the public's interest.

The goals of the Administrative Program are:

Effectively manage through policy development, communication, and dissemination of information, the provision of legal services and support, and the overall coordination of all programs in the Department of Treasury, Office of State Treasurer.

Promote sound cash management programs that benefit the taxpayers of the State of Louisiana.

The Administrative Program provides the administration and control of the affairs of the department for the purpose of fulfilling the powers and duties of the state treasurer.

The state treasurer is responsible for managing in excess of $12 billion for revenue collections and expenditures. The state treasurer maintains portfolios with an average daily investment of over $2.85 billion and generates an estimated $144.2 million in investment earnings. The state treasurer pays $218 million towards debt service on approximately $2.7 billion of outstanding debt; manages $200 million annually in general obligation debt and provides oversight on $393 million in loans by local government as well as authorizes new debt that averages $1.5 billion annually for local government.

OBJECTIVES AND PERFORMANCE INDICATORS

Unless otherwise indicated, all objectives are to be accomplished during or by the end of FY 1999-2000. Performance indicators are made up of two parts: name and value. The indicator name describes what is being measured. The indicator value is the numeric value or level achieved within a given measurement period. For budgeting purposes, performance indicator values are shown for the prior fiscal year, the current fiscal year, and alternative funding scenarios (continuation budget level and Executive Budget recommendation level) for the ensuing fiscal year (the fiscal year of the budget document).

RESOURCE ALLOCATION FOR THE PROGRAM

SOURCE OF FUNDING

This program is funded with State General Fund, Interagency Transfers, and Fees and Self-generated Revenues. Interagency Transfers are derived from various state agencies for the cost of central depository bank services. Fees and Self-generated Revenues are derived from the statewide retirement systems for their proportionate share of the cost of actuarial services and from fees collected for preliminary review and final approval of bond applications.

ANALYSIS OF RECOMMENDATION

GENERAL FUND	TOTAL	T.O.	DESCRIPTION

$498,491	$870,726	14	ACT 19 FISCAL YEAR 1998-1999

			BA-7 TRANSACTIONS:
$0	$0	0	None

$498,491	$870,726	14	EXISTING OPERATING BUDGET – November 20, 1998

$4,290	$4,290	0	Annualization of FY 1998 – 1999 Classified State Employees Merit Increase
$9,224	$9,224	0	Classified State Employees Merit Increases for FY 1999 - 2000
$5,368	$5,368	0	Risk Management Adjustment
$0	$26,500	0	Acquisitions and Major Repairs
$0	($19,000)	0	Nonrecurring Acquisitions and Major Repairs
$704	$704	0	UPS Fees
$976	$976	0	Civil Service Fees
$0	$2,500	0	Other Adjustments – Cash Management Training, and review of Policy and Practices
$3,100	$3,100	0	Other Adjustments – Interagency Transfer adjustment for the Attorney General

$522,153	$904,388	14	TOTAL RECOMMENDED

$23,662	$33,662	0	DIFFERENCE (TOTAL RECOMMENDED AND EXISTING OPERATING BUDGET)

The total means of financing for this program is recommended at 103.8% of the existing operating budget. It represents 96.2% of the total request ($939,397) for this program. This program is recommended at approximately the same level as in Fiscal Year 1998-99.

PROFESSIONAL SERVICES

$10,833		Other Professional Services for independent actuary for the Public Retirement Systems Actuarial Committee

$10,833		TOTAL PROFESSIONAL SERVICES

OTHER CHARGES

		Interagency Transfers:
$332		Office of Information Services for data processing services
$3,691		Department of Civil Service
$1,424		Uniform Payroll System Charges
$49,100		Legal Services provided by the Department of Justice, Attorney General’s Office

$54,547		TOTAL INTERAGENCY TRANSFERS

ACQUISITIONS AND MAJOR REPAIRS

$19,000		Replacement vehicle
$7,500		Replacement of broken/unusable office furniture

$26,500		TOTAL ACQUISITIONS AND MAJOR REPAIRS

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