AR SB521

Appropriates $2,000,000 to Ozarka College from the General Improvement Fund for construction, renovation, maintenance, major maintenance, and equipment purchases for capital improvements.

Prohibits contracts or obligations exceeding available State Treasury funds, but allows the college to accept grants, donations, Federal funds, and use unobligated cash income to supplement state funds for project financing.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and Department of Finance and Administration regulations when disbursing funds.

Mandates that appropriated funds be used in compliance with stated reasons documented in budget manuals, agency requests, executive recommendations, and legislative council or joint budget committee testimony and minutes.

Declares the act effective July 1, 2011 as an emergency measure necessary for the agency's operation and proper administration of essential governmental programs.