HI HB977

Extends the University of Hawaii's authority to maintain a separate accounting and financial management system compatible with state systems until June 30, 2019 (previously set to expire June 30, 2016).

Modifies sunset provisions in Hawaii Revised Statutes sections 40-1, 40-2, 40-4, 40-6, 40-58, and 40-81 to align the University of Hawaii's exemption deadline with the extended authorization period.

Allows the University of Hawaii to continue using the Kuali Financial System, which provides university-specific financial management capabilities while maintaining compatibility with Hawaii accounting requirements and generally accepted accounting principles.

Preserves the University of Hawaii's ability to maintain separate preaudit procedures, accounting forms, and financial reporting requirements distinct from other state agencies during the extended period.

Takes effect July 1, 2015.