Florida Florida Statutes

§ 218.411 — Authorization for state technical and advisory assistance

FS § 218.411Ch. 218

Statute text

(1)The board is authorized, upon request, to assist local governments in investing funds that are temporarily in excess of operating needs by:(a) Explaining investment opportunities to such local governments through publication and other appropriate means.

(b)Acquainting such local governments with the state's practice and experience in investing short-term funds. (c)

(b)An order to withdraw funds may not be issued upon any account for a larger amount than the share of the particular account to which it applies; and if such order is issued, the responsible official shall be personally liable under his or her bond for the entire overdraft resulting from the payment if made.

(9)The Auditor General shall conduct an annual financial audit of the trust fund, which shall include testing for compliance with the investment policy. The completed audit shall be provided to the participants, the board, the trustees, the Investment Advisory Council, and the Joint Legislative Auditing Committee. As soon as practicable, but no later than 30 days after completion of the audit, the trustees shall report to the Joint Legislative Auditing Committee that the trustees have reviewed the audit of the trust fund and shall certify that any necessary items are being addressed by a corrective action plan that includes target completion dates.

Legislative history

s. 1, ch. 77-394; s. 4, ch. 84-137; s. 1179, ch. 95-147; s. 5, ch. 98-124; s. 5, ch. 2008-59; s. 19, ch. 2009-21; s. 13, ch. 2010-180; s. 1, ch. 2018-140.