Section 35-20-7. – Subsidiaries prohibited.
§ 35-20-7. Subsidiaries prohibited. (a) Except as expressly authorized by law, no public corporation shall have the right to exercise or perform any of its powers and functions through any subsidiary or any other separate corporation or entity. Except as expressly authorized by law, no public corporation shall direct, require, or permit any of its […]
Section 35-20-8. – Financial estimates for public corporations.
§ 35-20-8. Financial estimates for public corporations. Itemized estimates of the financial needs of each public corporation shall be submitted by each chairperson or chief executive officer of a public corporation to the governor through the budget officer of the department of administration. The budget officer shall also provide copies of the estimates to the […]
Section 35-20-9. – Financial Estimates for Public Corporations.
§ 35-20-9. Financial Estimates for Public Corporations. Itemized estimates of the financial needs of each public corporation shall be submitted by each chairperson or chief executive officer of a public corporation to the governor through the budget officer of the department of administration. The estimate shall be in such form, and in such number of […]
Section 35-20-10. – Personal use of public corporation credit cards prohibited.
§ 35-20-10. Personal use of public corporation credit cards prohibited. (a) It is unlawful for any employee of a public corporation, as defined in § 35-20-5(4), or his or her designee, to use or permit others to use corporation issued credit cards for personal use. (b) For purposes of this section, “Personal use” means any […]
Section 35-20-11. – Policies and procedures for credit card use — Payment for food and beverages.
§ 35-20-11. Policies and procedures for credit card use — Payment for food and beverages. The executive officers of any public corporation shall establish and implement policies and procedures regarding the use of corporation issued credit cards and the payment for food and beverages. The policies and procedures shall be consistent with the provisions of […]
Section 35-20-1. – Short title.
§ 35-20-1. Short title. This chapter shall be known and may be cited as the “Public Corporation Financial Integrity and Accountability Act of 1995.” History of Section.P.L. 1995, ch. 86, § 1.
Section 35-20-2. – Policy.
§ 35-20-2. Policy. (a) The legislature hereby finds that: (1) Fraud and errors in public and quasi-public programs are more likely to occur from a lack of sufficient internal control structures in the state-authorized public corporations. (2) Effective internal control structures provide the basic foundation upon which public accountability must be built. (3) An entity’s […]
Section 35-20-3. – Corporation responsibilities.
§ 35-20-3. Corporation responsibilities. The chairs and chief executive officers of public corporations are responsible for the establishment and maintenance of a system or systems of internal accounting and administrative control within their respective corporations. This responsibility includes documenting the system, communicating system requirements to employees, and assuring that the system is functioning as prescribed […]
Section 35-20-4. – Internal accounting controls.
§ 35-20-4. Internal accounting controls. (a) Internal accounting and administrative controls are the methods through which reasonable assurances can be given that measures adopted by public corporations to safeguard assets, check the accuracy and reliability of accounting data, promote operational efficiency, and encourage adherence to prescribed managerial policies are being followed. The elements of a […]
Section 35-20-5. – Definitions.
§ 35-20-5. Definitions. As used in this chapter: (1) “Controller” means the state controller of Rhode Island. (2) “Director” means the director of administration. (3) “Governor” means the governor of Rhode Island. (4) “Public corporation” means any body corporate and politic created or to be created pursuant to statute, including, without limitation, the Rhode Island […]