§ 16403 Revolving Fund Accountability Rules

• •If a state agency takes money from a special fund, they must keep track of every penny spent.
• •Every time they spend money, they need to show proof (like receipts) to the Controller.
• •The Controller checks these proofs to make sure the money was spent the right way.
• •If the Department of Finance or the Controller asks, the agency must show all the proofs and explain how the money was used.

A school gets money from the state to buy new computers. They spend some of it on computers and some on pizza for a party.

The school must show receipts for the computers and the pizza to the Controller. The Controller will check to make sure the money was spent correctly. If the Controller finds out the pizza party wasn't allowed, the school could be in trouble.