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21     SECTION 59 - E12 - COMPTROLLER GENERAL'S OFFICE
22
23         59.1. (CG: Signature Authorization)  The Comptroller General is hereby authorized to designate certain employees to sign, in his stead,
24     warrants drawn against the State Treasurer and the State Treasurer is hereby authorized to accept such signatures when notified by the
25     Comptroller General.  This provision shall in no way relieve the Comptroller General of responsibility.
26         59.2. (CG: GAAP Implementation & Refinement)  It is the intent of the General Assembly to oversee the conversion of the financial
27     statements issued for the State of South Carolina and these financial statements shall be in conformance with Generally Accepted
28     Accounting Principles (GAAP) by the earliest possible date.  To this end, the Comptroller General is directed, as the State Accounting
29     Officer, to proceed with the implementation and refinement of the Statewide Accounting and Reporting System (STARS) so as to develop
30     a reporting system that will result in the preparation of the official financial reports for the State of South Carolina by the State Accounting
31     Officer in conformance with Generally Accepted Accounting Principles (GAAP).  The Comptroller General, as the State Accounting
32     Officer, is given full power and authority to issue accounting policy directives to State agencies in order to comply with Generally
33     Accepted Accounting Principles.  The Comptroller General is also given full authority to conduct surveys, acquire consulting services,
34     and implement new procedures required to fully implement Generally Accepted Accounting Principles under the oversight of the General
35     Assembly.



        SECTION 59 - E12 - COMPTROLLER GENERAL'S OFFICE                          PAGE 475

 1         59.3. (CG: Out-of-State Promotional Activities Expenses)  The Comptroller General may approve warrants for the payment of
 2     expenses for out-of-state promotional activities only when, in his opinion, such expenses are related to economic development in South
 3     Carolina.
 4         59.4. (CG: Payroll Deduction Processing Fee)  There shall be a fee for processing payroll deductions, not to exceed 5 cents, for
 5     insurance plans, credit unions, deferred compensation plans and professional associations per deduction per pay day.  Proceeds shall be
 6     remitted to the General Fund of the State.  This fee shall not be applied to charitable deductions.
 7         59.5. (CG: Lump Sum Agencies GAAP Implementation)  The Comptroller General's Office, in conjunction with lump sum agencies,
 8     is hereby directed to implement appropriate accounting procedures to consolidate accounts where necessary for proper accounting and
 9     thereby facilitate financial reporting in accordance with Generally Accepted Accounting Principles.
10         59.6. (CG: EDI/EFT Pilot Project)  The Comptroller General shall establish and coordinate a pilot project to provide the capability
11     for agencies to process vendor invoices and vendor payments through Electronic Data Interchange (EDI) or Electronic Funds Transfer
12     (EFT).
13