ID S1131

Appropriates $624,800 to the Endowment Fund Investment Board for fiscal year 2014 (July 1, 2013 - June 30, 2014), comprised of $425,700 in personnel costs, $192,000 in operating expenditures, and $7,100 in capital outlay from the Miscellaneous Revenue Fund and Endowment Administrative Fund.

Limits the Endowment Fund Investment Board to no more than 4 full-time equivalent positions during the fiscal year 2014 period, unless specifically authorized by the Governor, with required notification to the Joint Finance-Appropriations Committee.

Grants continuous appropriation authority to the Endowment Fund Investment Board for consulting fees, bank custodial fees, and portfolio-related external costs for fiscal year 2014.

Directs the Endowment Fund Investment Board to transfer $48,844,800 from various earnings reserve funds to corresponding income funds, including $31,292,400 from Public School Earnings Reserve Fund and $2,860,800 from University Earnings Reserve Fund, among other specified institutional transfers.

Encourages state agencies to use salary savings from turnover, attrition, or reorganization efforts to provide merit increases and target below-policy compensation employees, distinguishing between one-time payments and permanent pay increases.