|
|
Overview of the Bond Allocation Process
Introduction
After enabling legislation known as a Bond Authorization is
enacted, agencies still need approval from the State Bond
Commission in order to commit funds for specific projects. This
approval is known as a "Bond Allocation" and these
allocations are what the State Comptroller's Database tracks.
|
Step 1
If a state agency wants to use bond funds for a specific
project, the request must first be submitted to the Office of
Policy and Management (OPM).
|
Step 2
If OPM approves, the project is then placed on the State Bond
Commission's agenda for consideration.
|
Step 3
At its monthly meeting, the ten-member State Bond Commission
reviews these agency requests and must vote to approve each
project before it can move forward.
|
Step 4
If the State Bond Commission approves the agency request,
bond funds are allocated for that project.
|
|
