This bill establishes and reestablishes agency ancillary funds, specifically internal service funds, auxiliary accounts, or enterprise funds for various state institutions, officials, and agencies in Louisiana. It appropriates funds for the Fiscal Year 2024-2025, detailing the use of these funds for working capital in public service, auxiliary service, and interagency service operations. The bill outlines the process for depositing receipts into the state treasury and making disbursements, as well as stipulating that all appropriated funds must comply with public bid laws. Additionally, it includes provisions for the management of fund equity, the transfer of unexpended cash balances, and the requirement for agencies with significant appropriations to include internal auditing positions.

The bill also mandates that any increase in revenues must be approved by the commissioner of administration and the Joint Legislative Committee on the Budget, and it provides definitions and guidelines for the administration of these funds. Notably, it specifies that the chief audit executive must maintain independence and adhere to professional auditing standards. The bill includes a severability clause to ensure that if any part is deemed unconstitutional, the remaining provisions will still stand. The effective date for this act is set for July 1, 2024.