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Funding Board acknowledges Cash Management Improvement Act annual report for fiscal 2024
Summary
The Tennessee State Funding Board acknowledged receipt of the Cash Management Improvement Act annual report for state fiscal year 2024, which the Department of Finance and Administration submitted in compliance with federal requirements. No vote was required; the board recorded the acknowledgment in the meeting packet.
The Tennessee State Funding Board acknowledged receipt of the Cash Management Improvement Act (CMIA) annual report for state fiscal year 2024 during its Feb. 13 meeting.
Sandy Thompson of the Department of Finance and Administration told board members the report had been included in their meeting packet and was submitted to comply with the Cash Management Improvement Act. "You do have that report in your packet and it was submitted to you, probably several weeks ago for your review," Thompson said. The chair noted acknowledgment of the report; no formal vote was required.
Why it matters: The CMIA reporting process documents the state's compliance with federal cash-management requirements and is part of routine fiscal oversight. The board recorded the acknowledgment in the meeting minutes and moved on to adjournment.
