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FL H0707
Bill
Status
Passed
4/29/2024
Primary Sponsor
Higher Education Appropriations Subcommittee
Click for details
AI Summary
- State universities may retain and report to the Board of Governors an annual reserve balance exceeding the required minimum 7 percent carry forward balance of their state operating budget
- A university's carry forward spending plan may now include retention of the carry forward balance as a reserve fund to be used for authorized expenses in subsequent years
- Authorized carry forward expenditures include capital outlay projects, renovation/repair/maintenance projects, remodeling or infrastructure projects, natural disaster repairs, operating expenditures supporting the university's mission, and contingency reserves for governor-declared emergencies
- Universities that fail to maintain the 7 percent minimum balance must submit a plan to the Board of Governors to reach that threshold within the next fiscal year
- Effective July 1, 2024, amending section 1011.45, Florida Statutes
Legislative Description
State University Unexpended Funds
Last Action
Chapter No. 2024-124
4/29/2024
Committee Referrals
Appropriations1/26/2024
Postsecondary Education & Workforce Subcommittee1/22/2024
Higher Education Appropriations Subcommittee12/19/2023
Full Bill Text
No bill text available