Authority: Title 2.2, Chapter 2, Article 5; § 2.2-201, Code of Virginia.

A. The Secretary of Finance, in consultation with other affected secretaries, is hereby authorized to order the State Comptroller to transfer to the general fund a reasonable sum, as determined by the State Comptroller, from annual charges of internal service funds and enterprise funds that exceed the cost of providing services or that represent over-recoveries from the general fund.

B. The Secretary of Finance shall engage internal or third-party assistance to perform a risk assessment of executive branch agency internal controls for administering and disbursing federal pandemic relief funds, economic stimulus, or loan funds. Upon engaging internal or third-party assistance, the Secretary of Finance shall consult with the Auditor of Public Accounts and executive branch agencies conducting similar risk assessments or audits regarding the scope of work performed by the Auditor of Public Accounts and such executive branch agencies over federal funds. The Secretary of Finance shall provide oversight over any resulting contracts and compile the findings and provide a report to the Governor, the Chair of the House Appropriations Committee and the Chair of the Senate Finance and Appropriations Committee by November 1 of each year. Included in Item 486, $600,000 of the revenues received from the federal distributions of the Coronavirus State and Local Fiscal Recovery Funds program pursuant to the American Rescue Plan Act of 2021 is provided for this purpose.

C. Out of the appropriation in this item $500,000 in the first year from the general fund shall be used for activities related to the pursuit of grants offered by the federal Infrastructure Investment and Jobs Act. Such activities shall be in conjunction with entities identified by the Secretary of Finance including state agencies, local governments, and private sector representatives.