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ID S1135
Bill
Status
3/20/2017
Primary Sponsor
Finance Committee
Click for details
AI Summary
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Appropriates $753,600 to the Endowment Fund Investment Board for fiscal year 2018 (July 1, 2017 through June 30, 2018), consisting of $558,200 for personnel costs, $193,700 for operating expenditures, and $1,700 for capital outlay from the Miscellaneous Revenue Fund and Endowment Earnings Administrative Fund.
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Authorizes the Endowment Fund Investment Board to employ no more than 3.7 full-time equivalent positions during fiscal year 2018, with any increases requiring Governor approval and notification to the Joint Finance-Appropriations Committee.
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Grants continuous appropriation authority for consulting fees, bank custodial fees, and portfolio-related external costs for the period July 1, 2017 through June 30, 2018.
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Expresses legislative intent for the Board to transfer $73,483,200 from various Earnings Reserve Funds to corresponding Income Funds, including $47,049,600 from Public School Earnings Reserve Fund, $5,544,000 from Charitable Institutions Earnings Reserve Fund, and transfers from Agricultural College, Normal School, Penitentiary, Scientific School, Mental Hospital, and University Earnings Reserve Funds.
Legislative Description
Appropriates $753,600 to the Endowment Fund Investment Board for fiscal year 2018; limits the number of authorized full-time equivalent positions to 3.7; authorizes continuous appropriation authority for certain costs; and expresses legislative intent with regard to transfers from the earnings reserve funds to the income funds.
APPROPRIATIONS
Last Action
Session Law Chapter 108 Effective: 07/01/2017
3/20/2017