§ 35-16-1. Purpose and membership. (a) In order to provide for a more stable and accurate method of financial planning and budgeting and to facilitate the adoption of a balanced budget wherein appropriations and expenditures do not exceed anticipated revenues, as is required by the statutes and constitution of Rhode Island, it is hereby declared […]
§ 35-16-2. Meetings. (a) The principals of the R.E.C. shall meet within the first ten (10) days of May and November of each year. (b) The primary purpose of regularly scheduled conferences is to prepare economic forecasts and forecast revenue estimates and review current revenue collections under current tax law. The conference principals can agree, […]
§ 35-16-3. Additional meetings. (a) Any time during a fiscal year that any principal feels that the recommendations of the revenue estimating conference are no longer valid, then that principal, with appropriate notice, may convene a revenue estimating conference. The principal requesting the additional conference shall be the chairperson for that conference. (b) If at […]
§ 35-16-4. Impact meetings. (a) The revenue estimating conference principals, along with the appropriate participants, will meet from time to time to compare current fiscal statistics with the most recent financial projection as required by § 35-3-1(a)(6). Any principal can call an impact meeting at any time. (b) Following each legislative session, the principals, along […]
§ 35-16-5. Staff support for meetings. (a) The R.E.C. chairperson and his or her staff will be responsible for preparing and distributing work papers before each conference. Each participant and principal will be responsible for providing the chairperson with the appropriate materials for the work papers on a schedule determined by the chairperson. Failure to […]
§ 35-16-6. Report of meetings. The chairperson will be the sole source of any public announcement of the results from the conference. The final report will be prepared by the chairperson and distributed to conference participants not later than five (5) working days after adjournment. The reports shall contain the following: (1) Tables showing the […]
§ 35-16-7. Two year budget cycle study. The budget office, the house fiscal advisor, and the senate fiscal advisor along with the house and senate fiscal staff and legal counsel shall study the feasibility and benefits of adopting a two (2) year budget cycle, and shall report in writing to the governor, the speaker of […]
