HI HB31

Increases the annual expenditure cap from $3,000,000 to $5,000,000 for the University of Hawaii Board of Regents to authorize spending from the UH Tuition and Fees Special Fund for promoting alumni relations and generating private donations.

Authorized expenditures must be for public purposes and are exempt from procurement and contracting chapters (42F, 103, 103D, and 103F).

Requires the university to submit a comprehensive annual report to the legislature no later than twenty days before each regular session detailing fund usage.

Report must identify UH Foundation departments funded, describe their purposes and fundraising activities, provide expenditure breakdowns by category, detail transfers to other university funds, and include financial summaries of the Foundation's operations.

Effective July 1, 2012.