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Procurement and Disbursement Guidelines

Bulletin Number: A-633
Date Issued: April 13, 2012 Date Last Updated: April 13, 2012
Bulletin Name: 2012-2013 BUDGET PASSAGE - FISCAL YEAR INFORMATION
Purpose

To provide important information relating to the start of the State’s fiscal year and legislation to enact the State’s financial plans.

  • Temporary Loans authorized
  • Short-Term Investment Pool (STIP) Participation
  • Merchandise Invoice Received Dates
Short-Term Investment Pool (STIP) Interest & Temporary Loan Authorizations

Agency-administered funds with ‘temporary loan’ authority are listed in    S6259-D/A9059-D (Chapter 59), Part U of the Laws of 2012.  This bill was enacted on March 30, 2012 and signed into law on March 30, 2012.

Absent any other law providing specific requirements for participation in STIP, Section 98-a of the State Finance Law governs the distribution of interest to agencies’ accounts within the State’s short-term investment pool (STIP). Pursuant to law, funds and accounts with TEMP LOAN authorizations are excluded from participating in the distribution of STIP interest.  However, the law further provides that:

“…the comptroller shall credit or charge interest to fund/accounts which are authorized to receive temporary loans if so requested by the state department or division responsible for such fund/account within thirty days of the beginning of each fiscal year or thirty days following the final approval of any bill containing language authorizing such temporary loans, whichever is later, and interest must be credited or charged from the first day of such fiscal year.”

Agency requests to ‘opt into’ or ‘out of’ participation in the distribution of STIP interest earning must be sent by May 1, 2012 to:

Carrie Piser
Office of the State Comptroller
Bureau of State Accounting Operations
General Ledger Accounting Section
110 State St. – 9th floor
Albany, NY 12236

Or email to:     genledger@osc.state.ny.us

 

Merchandise Invoice Received Dates

The Merchandise Invoice Received (MIR) Date generally represents the date the agency receives goods and services or receives a proper invoice - whichever is later. In accordance with the State Finance Law, Sec. 179-f, the MIR date cannot precede the effective date of the appropriation or the date the appropriation becomes law.  Appropriations in budget bills submitted by the Governor as part of the Executive Budget generally become law when passed by the Legislature. Exceptions include:

  • Appropriations for the Legislature and Judiciary which must be approved by the Governor;
  • Any separate appropriations added to the Governor's budget bills by the Legislature, which become law when signed by the Governor; and
  • Any items vetoed that are separately reconsidered by the Legislature and, if on reconsideration, are approved by two-thirds of the members elected to each house, are effective on the date of such approval. 

Please use the following table as a guide for determining when appropriations are available for payments against SFY 2012-13 appropriations.

Should additional appropriations become available for the 2012-13 fiscal year, this bulletin will be updated. 

Chapter Number

Title

Passed as proposed by the Governor

Items added by the Legislature and approved by the Governor

Earliest Possible MIR Date

50

State Operations

03/30/12

04/11/12

04/01/12 (Except Items Added)

51

Legislative and Judiciary

03/30/12

03/30/12

04/01/12

52

Debt Service

03/20/12

03/30/12

04/01/12

53

 Local Assistance

03/30/12

04/11/12

04/01/12 (Except Items Added)

54

Capital Projects

03/30/12

04/11/12

04/01/12 (Except Items Added)

Agency fiscal staffs are responsible for determining the correct MIR Date and the late charge option (formally interest eligibility indicator), which is accessible from the voucher payment tab and is used to identify a payee’s eligibility for interest under prompt payment legislation. Any changes that OSC must make because of incorrect MIR Dates or an interest eligibility indicator may result in interest penalties that will be charged to program agencies. If you need additional information on prompt payment please refer to OSC Guide to Financial Operations XII.5.I, Merchandise/Invoice Received Dates and Prompt Payment Interest Calculations. 

If you have any questions regarding this bulletin, please contact our Customer Service Help Desk at (518) 474-4868 or stexpend@osc.state.ny.us