The bill, HB 5201, amends several sections of the Florida Statutes to update terminology and improve the structure of state financial accounting systems. A significant change is the replacement of the term "Florida Accounting Information Resource Subsystem" with "Financial Management Subsystem," which reflects a shift in the designation of the subsystem. The bill also mandates that the Chief Financial Officer (CFO) report disbursements to small businesses and minority business enterprises, and it requires the replacement of lost or destroyed warrants instead of duplicating them. Furthermore, it removes the Department of Financial Services' authority to make semimonthly salary payments and introduces a requirement for agencies to pay interest from available appropriations under certain conditions.

In addition to these changes, the bill establishes a streamlined process for public records requests related to financial documents, directing such requests to the appropriate state entity rather than the functional owner of the subsystem. It also deletes obsolete provisions and revises the functions of the Florida Financial Management Information System to enhance operational efficiency. The overall aim of these amendments is to improve the accuracy and transparency of financial reporting and management within state agencies, with the act set to take effect on July 1, 2025.

Statutes affected:
H 5201 Filed: 17.11, 17.13, 110.113, 215.422, 215.89, 215.985, 216.141, 1001.281, 1001.282