Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69C - Division of Treasury
Chapter 69C-5 - CASH MANAGEMENT CONSULTATION
Section 69C-5.010 - Effect of Final Recommendations

Universal Citation: FL Admin Code R 69C-5.010

Current through Reg. 50, No. 187; September 24, 2024

(1) If the Agency agrees to the final recommendations, those recommendations shall become final and shall be binding upon the Agency.

(2) If the Agency does not agree to one or more final recommendations it shall state its points of disagreement and the reasons therefor in detail with substantial justification by letter to the Cash Management Officer and shall maintain a copy in its files. Thereafter the final recommendations shall not be binding on the Agency. The Cash Manager after consideration of such justification for disagreement will issue a statement which will document any opportunity costs of failure to implement the subject final recommendations. Opportunity costs may include but are not limited to the following:

(a) Loss of investment earnings potential;

(b) Loss of potential improvement in operational efficiency;

(c) Loss of potential cost efficiencies.

This statement will be filed by the Agency as part of the Consultation records. The Agencies as well as the Cash Management Officer will properly maintain all records relating to the Consultation and make them available for inspection upon request.

Rulemaking Authority 17.29 FS. Law Implemented 17.57, 17.61, 17.65 FS.

New 9-10-86, Formerly 4C-5.010.

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