§5A-2-1. Finance division created; director; sections; powers and
(a) The finance division of the department of administration
is hereby continued except that the budget section is transferred
to and shall become a part of the department of revenue on the
effective date of this section as amended in the year two thousand
four. The finance division shall be under the supervision and
control of a director, who shall be appointed by the secretary.
There shall be in the finance division an accounting section and a
financial accounting and reporting section.
(b) The accounting section shall have the duties conferred
upon it by this article and by the secretary, including, but not
limited to, general financial accounting, payroll, accounts payable
and accounts receivable for the department of administration.
(c) The financial accounting and reporting section shall
establish and maintain the centralized accounting system required
by section twenty-four of this article and issue annual general
purpose financial statements in accordance with generally accepted
accounting principles and with this article.