HI SB2939

Repeals sunset provisions that were set to expire June 30, 2016, allowing the University of Hawaii to permanently maintain a separate accounting and financial management system compatible with state requirements and generally accepted accounting principles.

Removes expiration dates from Hawaii Revised Statutes sections 40-1, 40-2, 40-4, 40-6, 40-58, and 40-81 that previously limited the University of Hawaii's accounting system authority.

Permits the University of Hawaii to continue using the Kuali Financial System while maintaining bi-monthly payroll feeds to the state department of accounting and general services and providing routine annual financial reports to the State of Hawaii's Annual Consolidated Financial Statements.

Allows the University of Hawaii's chief financial officers to approve assignments of moneys and pre-audit payments independently, subject to the same requirements applied to the department of education.

Takes effect on June 29, 2016.