AR SB551

Appropriates $300,000 to the University of Arkansas - Fort Smith from the General Improvement Fund for construction, renovation, maintenance, critical maintenance, equipment, security enhancements, technology upgrades, and library resources.

Prohibits contracts or obligations in excess of available State Treasury funds, but allows the university to accept and use grants, donations, Federal funds, and unobligated cash income to supplement the appropriation.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and all applicable fiscal control laws in disbursement of funds.

Specifies that funds must be used in compliance with the stated reasons for the appropriation as documented in budget manuals, letters, and legislative testimony.

Declares an emergency clause making the act effective July 1, 2015 and necessary for the agency's immediate operation.