The bill, HB 5201, amends several sections of the Florida Statutes to modernize the state's financial accounting practices. A significant change is the replacement of the "Florida Accounting Information Resource Subsystem" with the "Financial Management Subsystem," which will enhance the efficiency and transparency of financial management processes. The Chief Financial Officer is now required to replace lost or destroyed warrants instead of duplicating them, and the authority for semimonthly salary payments by the Department of Financial Services has been removed. Additionally, agencies must pay interest on certain disbursements from available appropriations, with provisions for alternative appropriations if necessary.

Further amendments include the deletion of obsolete provisions and the establishment of clearer guidelines for the Florida Financial Management Information System. Requests for records must now be directed to the appropriate state entity rather than the functional owner of the subsystem, with the Department of Financial Services designated as the functional owner of the Financial Management Subsystem. The bill also modifies the descriptions of the Operating Trust Fund and the Administrative Trust Fund within the Department of Education by removing their respective FLAIR numbers, aiming to streamline language and improve clarity. The act is 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