Section 1. Internal Controls. Pursuant to Article six of the Legisla- tive Law as enacted by the New York State Governmental Accountability, Audit and Internal Control Act of 1999, the following guidelines for a System of Internal Controls are hereby established.

1. All financial transactions shall be executed in accordance with the general or specific authorization of the Speaker or his or her designated representative.
2. All financial transactions shall be recorded in conformity with generally accepted accounting principles or other applicable criteria in a manner to maintain accountability for assets.
3. Access to assets shall be permitted only in accordance with the authorization of the Speaker or his or her designated representative.
4. The recorded accountability for assets shall be compared with the existing assets at reasonable intervals and appropriate action shall be taken with respect to any differences.
5. The System of Internal Controls shall provide reasonable assurance that the foregoing are accomplished.

§ 2. Expenditure reporting. Not later than January thirty-first, nineteen hundred ninety-six, the Speaker shall cause the establishment of a system of expenditure reporting whereby expenditures of the House shall be reported by such categories as he or she shall determine. Reports of expenditures by such system shall be published in a form to be pre- scribed by the Speaker, and shall report on all expenditures of the House during each preceding reporting period.