Section 26-8 - Department of budget and finance(a) The department of budget and finance shall be headed by a single executive to be known as the director of finance.(b) The department shall:(1) Undertake the preparation and execution of the executive budget of the state government;(2) Conduct a systematic and continuous review of the finances, organization, and methods of each department of the State to assist each department in achieving the most effective expenditure of all public funds and to determine that such expenditures are in accordance with the budget laws and controls in force;(3) Have custody of state funds and be responsible for the safekeeping, management, investment, and disbursement thereof; and(4) Administer state debts.(c) The functions and authority heretofore exercised by the bureau of the budget (except for insurance management, surplus property management, and central purchasing transferred to the department of accounting and general services) and the funds custody, cash management, debt management, and administering of veterans loan functions of the treasurer as heretofore constituted are transferred to the department of budget and finance established by this chapter.(d) The employees' retirement system as constituted by chapter 88 is placed within the department of budget and finance for administrative purposes. The functions, duties, and powers, subject to the administrative control of the director of finance, and the composition of the board of trustees of the employees' retirement system shall be as heretofore provided by law.Amended by L 2014, c 108,§ 2, eff. 7/1/2014.L Sp 1959 2d, c 1, §14; am L 1963, c 114, §2; Supp, § 14A-13; HRS § 26-8; am L 1971, c 107, §4; am L 1976, c 165, §7; am L Sp 1988, c 1, §4; am L 1989, c 26, §1; am L 1992, c 308, §3; am L 1995, c 126, §2; am L 1997, c 350, §3 Budget expenditures of the department of education, discussed. 70 H. 253, 768 P.2d 1279.