ID S1395

Appropriates $600,000 to the Endowment Fund Investment Board for fiscal year 2011 (July 1, 2010 through June 30, 2011), consisting of $384,700 for personnel costs, $210,200 for operating expenditures, and $5,100 for capital outlay from the Miscellaneous Revenue Fund and Endowment Administrative Fund.

Authorizes the Endowment Fund Investment Board to employ no more than four (4) full-time equivalent positions during the fiscal year 2011 period, unless specifically authorized by the Governor, with the Joint Finance-Appropriations Committee to be notified of any increases.

Grants continuous appropriation authority to the Endowment Fund Investment Board for consulting fees, bank custodial fees, and portfolio-related external costs from the Endowment Administrative Fund for fiscal year 2011.

Directs the Endowment Fund Investment Board to transfer $67,786,600 total from various earnings reserve funds to corresponding income funds, including $53,292,400 from Public School Earnings Reserve Fund, $850,800 from Agricultural College Earnings Reserve Fund, $2,964,600 from Charitable Institutions Earnings Reserve Fund, and transfers from five other institutional reserve funds.