ID H0650

Appropriates $722,700 to the Endowment Fund Investment Board for fiscal year 2019 (July 1, 2018 – June 30, 2019), consisting of $530,700 for personnel costs, $190,000 for operating expenditures, and $2,000 for capital outlay from the Miscellaneous Revenue Fund and Endowment Earnings Administrative Fund.

Limits the Endowment Fund Investment Board to no more than 3.70 full-time equivalent positions during fiscal year 2019 unless specifically authorized by the Governor, with the Joint Finance-Appropriations Committee to be notified of any increases.

Grants continuous appropriation authority to the Board for consulting fees, custodial fees, investment manager fees, and other portfolio-related external costs during fiscal year 2019.

Directs the Board to transfer $78,206,400 from various Earnings Reserve Funds to corresponding Income Funds for fiscal year 2019, including $50,325,600 from Public School Earnings Reserve to Public School Income Fund and amounts to Agricultural College, Charitable Institutions, Normal School, Penitentiary, Scientific School, Mental Hospital, and University income funds.