ID H0552

Appropriates $630,300 to the Endowment Fund Investment Board for fiscal year 2015, including $437,600 for personnel costs, $191,500 for operating expenditures, and $1,200 for capital outlay from Miscellaneous Revenue and Endowment Administrative funds.

Limits the Endowment Fund Investment Board to 3.7 full-time equivalent positions during fiscal year 2015, unless specifically authorized by the Governor with Joint Finance-Appropriations Committee notification.

Grants continuous appropriation authority for consulting fees, bank custodial fees, and portfolio-related external costs for the fiscal year 2015 period.

Directs the Endowment Fund Investment Board to transfer $51,978,200 from various earnings reserve funds to corresponding income funds, including $31,292,400 from Public School Earnings Reserve Fund and smaller amounts from Agricultural College, Charitable Institutions, Normal School, Penitentiary, Scientific School, Mental Hospital, and University earnings reserves.

Establishes legislative intent for state employee compensation adjustments including a 1% upward adjustment to compensation schedules, continuation of payline exceptions for recruitment/retention, and funding for a 1% ongoing salary increase plus equivalent one-time 1% merit bonus for state employees.