AR SB708

Appropriates $2,000,000 to the University of Arkansas for Medical Sciences from the General Improvement Fund for personal services, operating expenses, maintenance, renovation, equipping, construction, acquisition, improvement, and repair of real property and facilities.

Prohibits contracts or obligations exceeding available State Treasury funds, but allows the institution to accept grants, donations, and Federal funds to supplement the state appropriation.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other applicable fiscal control laws during fund disbursement.

Establishes that funds must be used in compliance with the stated reasons for adoption as documented in budget manuals, letters, and official legislative minutes.

Declares an emergency effective July 1, 2015, based on Constitutional limitations on appropriations and the necessity for immediate agency operation.