4-4-4. Governmental accounting systems to comport with generally accepted accounting principles.

Any accounting system used by any state agency or any component unit of state government shall be designed to meet the financial accounting and reporting requirements of generally accepted accounting principles.

Source: SL 1966, ch 188, § 4; SL 1981, ch 27, § 1; SL 1985, ch 33, § 22; SL 1988, ch 81, § 8; SL 2001, ch 23, § 1.



SDLRC - Codified Law 4-4-4 - Governmental accounting systems to comport with generally accepted accounting principles.

4-4-4.1. Repealed by SL 2001, ch 23, § 2.



SDLRC - Codified Law 4-4-4 - Governmental accounting systems to comport with generally accepted accounting principles.

4-4-4.2. Repealed by SL 1986, ch 41.



SDLRC - Codified Law 4-4-4 - Governmental accounting systems to comport with generally accepted accounting principles.

4-4-4.3. Securities operating fund and insurance operating fund established--Permitted expenditures.

There is established within the state treasury the securities operating fund and the insurance operating fund, into which shall be deposited all fees received by each division. All moneys in the funds created by this section shall be budgeted and expended in accordance with the provisions of Title 4 on warrants drawn by the state auditor on vouchers approved by the secretary of the Department of Labor and Regulation. Expenditures from these funds may be made only to pay the necessary expenses of purposes specified in §§ 37-5B-1 to 37-5B-50, inclusive, and chapters 37-25A, 47-31B, 47-33, and Title 58.

Source: SL 1989, ch 48, § 1; SL 2003, ch 272 (Ex. Ord. 03-1), §§ 20, 121; SL 2004, ch 278, § 55; SL 2008, ch 203, § 60; SL 2011, ch 1 (Ex. Ord. 11-1), § 162, eff. Apr. 12, 2011.



SDLRC - Codified Law 4-4-4 - Governmental accounting systems to comport with generally accepted accounting principles.

4-4-4.4. Transfer of excess funds at end of fiscal quarter.

At the end of each fiscal quarter the treasurer shall transfer any cash balance in excess of one hundred seventy-five thousand dollars from the insurance operating fund to the general fund. At the end of each fiscal quarter the treasurer shall transfer any cash balance in excess of fifteen thousand dollars from the securities operating fund to the general fund.

Source: SL 1989, ch 48, § 2; SL 1995, ch 26.



SDLRC - Codified Law 4-4-4 - Governmental accounting systems to comport with generally accepted accounting principles.

4-4-4.5. Boiler inspection fund established--Permitted expenditures.

There shall be established within the state treasury the boiler inspection fund, into which shall be deposited all boiler inspection fees received by the Department of Public Safety. All moneys in the fund created by this section shall be budgeted and expended in accordance with the provisions of Title 4 on warrants drawn by the state auditor on vouchers approved by the secretary of the Department of Public Safety. Expenditures from these funds may be made only to pay necessary expenses of purposes specified in chapter 34-29A.

Source: SL 1989, ch 48, § 5; SL 2003, ch 272, §§ 20, 121.



SDLRC - Codified Law 4-4-4 - Governmental accounting systems to comport with generally accepted accounting principles.

4-4-4.6. Transfer of excess funds at end of fiscal year.

At the end of the fiscal year the treasurer shall transfer any cash balance in excess of one hundred thousand dollars from the boiler inspection fund to the general fund.

Source: SL 1989, ch 48, § 6; SL 2021, ch 155, § 2.