Print Friendly HOUSE BILL NO. 797 – Approp, Endowment Fund Investmt Bd
HOUSE BILL NO. 797
View Bill Status
View Bill Text
View Statement of Purpose / Fiscal Impact
Text to be added within a bill has been marked with Bold and
Underline. Text to be removed has been marked with
Strikethrough and Italic. How these codes are actually displayed will
vary based on the browser software you are using.
This sentence is marked with bold and underline to show added text.
This sentence is marked with strikethrough and italic, indicating
text to be removed.
H0797.....................................................by APPROPRIATIONS
APPROPRIATIONS - ENDOWMENT FUND INVESTMENT BOARD - Appropriates $621,900 to
the State Board of Land Commissioners for the Endowment Fund Investment
Board for fiscal year 2007; limits the number of full-time equivalent
positions to 4; provides for continuous appropriation authority for moneys
in the Endowment Administration Fund for consulting fees, bank custodial
fees and portfolio-related costs; provides legislative intent regarding the
transfer of moneys from the various earning reserve funds to the income
funds; and directs the allocation of salary savings.
03/10 House intro - 1st rdg - to printing
03/13 Rpt prt - to 2nd rdg
03/14 2nd rdg - to 3rd rdg
03/15 3rd rdg - PASSED - 63-0-7
AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer,
Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Brackett, Bradford,
Cannon, Chadderdon, Clark, Collins, Deal, Denney, Edmunson, Eskridge,
Field(18), Field(23), Garrett, Hart, Harwood, Henbest, Henderson,
Jaquet, Kemp, Lake, LeFavour, Loertscher, Martinez, Mathews,
McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen, Pasley-Stuart,
Pence, Raybould, Ringo, Rusche, Rydalch, Sayler, Schaefer,
Shepherd(2), Shepherd(8), Shirley, Skippen, Smith(30), Smylie,
Snodgrass, Stevenson, Trail, Wills, Wood, Mr. Speaker
NAYS -- None
Absent and excused -- Crow, Ellsworth, Nonini, Ring, Roberts, Sali,
Smith(24)
Floor Sponsor - Harwood
Title apvd - to Senate
03/16 Senate intro - 1st rdg - to Fin
03/17 Rpt out - rec d/p - to 2nd rdg
03/20 2nd rdg - to 3rd rdg
03/22 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Brandt, Broadsword, Bunderson, Burkett(Clark),
Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis,
Fulcher, Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough,
Langhorst, Little, Lodge, Malepeai, Marley, McGee, McKenzie, Pearce,
Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams
NAYS -- None
Absent and excused -- None
Floor Sponsor - Marley
Title apvd - to House
03/23 To enrol
03/24 Rpt enrol - Sp signed
03/27 Pres signed
03/28 To Governor
03/31 Governor signed
Session Law Chapter 327
Effective: 07/01/06
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-eighth Legislature Second Regular Session - 2006
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 797
BY APPROPRIATIONS COMMITTEE
1 AN ACT
2 APPROPRIATING MONEYS TO THE BOARD OF LAND COMMISSIONERS FOR THE ENDOWMENT FUND
3 INVESTMENT BOARD FOR FISCAL YEAR 2007; LIMITING THE NUMBER OF FULL-TIME
4 EQUIVALENT POSITIONS; PROVIDING A CONTINUOUS APPROPRIATION FOR CERTAIN
5 COSTS; EXPRESSING LEGISLATIVE INTENT REGARDING THE TRANSFER OF MONEYS FROM
6 THE EARNINGS RESERVE FUNDS TO THE INCOME FUNDS; AND DIRECTING THE ALLOCA-
7 TION OF SALARY SAVINGS.
8 Be It Enacted by the Legislature of the State of Idaho:
9 SECTION 1. There is hereby appropriated to the State Board of Land Com-
10 missioners for the Endowment Fund Investment Board the following amounts to be
11 expended according to the designated expense classes from the listed funds for
12 the period July 1, 2006, through June 30, 2007:
13 FOR FOR FOR
14 PERSONNEL OPERATING CAPITAL
15 COSTS EXPENDITURES OUTLAY TOTAL
16 ENDOWMENT FUND INVESTMENT BOARD:
17 FROM:
18 Miscellaneous
19 Revenue Fund $122,500 $ 65,100 $ 3,500 $191,100
20 Endowment
21 Administrative
22 Fund 246,400 177,500 6,900 430,800
23 TOTAL $368,900 $242,600 $10,400 $621,900
24 SECTION 2. In accordance with Section 67-3519, Idaho Code, the Endowment
25 Fund Investment Board is authorized no more than four (4) full-time equivalent
26 positions at any point during the period July 1, 2006, through June 30, 2007,
27 for the program specified in Section 1 of this act, unless specifically autho-
28 rized by the Governor. The Joint Finance-Appropriations Committee will be
29 notified promptly of any increased positions so authorized.
30 SECTION 3. The Endowment Fund Investment Board is hereby granted continu-
31 ous appropriation authority for moneys in the Endowment Administrative Fund
32 for consulting fees, bank custodial fees and portfolio-related external costs
33 for the period July 1, 2006, through June 30, 2007.
34 SECTION 4. It is legislative intent that for fiscal year 2007, the Endow-
35 ment Fund Investment Board transfer $35,845,600 as follows: $24,648,200 from
36 the Public School Earnings Reserve Fund to the Public School Income Fund;
37 $661,200 from the Agricultural College Earnings Reserve Fund to the Agricul-
38 tural College Income Fund; $2,361,300 from the Charitable Institutions Earn-
39 ings Reserve Fund to the Charitable Institutions Income Fund; $2,115,700 from
40 the Normal School Earnings Reserve Fund to the Normal School Income Fund;
41 $809,300 from the Penitentiary Earnings Reserve Fund to the Penitentiary
2
1 Income Fund; $2,375,800 from the Scientific School Earnings Reserve Fund to
2 the Scientific School Income Fund; $1,051,500 from the Mental Hospital Earn-
3 ings Reserve Fund to the Mental Hospital Income Fund; and $1,822,600 from the
4 University Earnings Reserve Fund to the University Income Fund.
5 SECTION 5. The Endowment Fund Investment Board is hereby directed to allo-
6 cate salary savings, based on performance, to provide for employee salary
7 needs before other operational budget priorities are considered. Where appli-
8 cable, employees whose salaries are below the midpoint of their pay grade or
9 occupational groups with significant turnover rates shall be considered first
10 in the order of salary savings distributions.
| Statement of Purpose |
| RS15264 |
This is the fiscal year 2007 Appropriation Bill to the Land Board for the Endowment Fund Investment Board. The appropriation is in the amount of $621,900 of which $191,100 or 31% is from State Insurance Funds and $430,800 or 69% is from Endowment Administrative Funds. The bill includes a full-time equivalent position cap of four. Section 3 provides continuous spending authority for consulting fees, bank custodial fees and portfolio-related external costs for fiscal year 2007.
Section 4 includes legislative intent regarding the Endowment Fund Investment Board transfers that the JFAC took into account when setting agency budgets. It includes a Public School distribution of $24.7 million and pooled distributions of $11.2 million.
Section 5 directs the allocation of salary savings, based on performance, to provide for salary needs.
 
| FY 2006 Original Appropriation |
4.00 |
0 |
568,200 |
0 |
568,200 |
| HB 395 One-time 1% Salary Increase |
0.00 |
0 |
3,200 |
0 |
3,200 |
| Omnibus CEC Supplemental |
0.00 |
0 |
3,400 |
0 |
3,400 |
| FY 2006 Total Appropriation |
4.00 |
0 |
574,800 |
0 |
574,800 |
| Removal of One-Time Expenditures |
0.00 |
0 |
(22,800) |
0 |
(22,800) |
| FY 2007 Base |
4.00 |
0 |
552,000 |
0 |
552,000 |
| Benefit Costs |
0.00 |
0 |
(2,200) |
0 |
(2,200) |
| Inflationary Adjustments |
0.00 |
0 |
3,900 |
0 |
3,900 |
| Replacement Items |
0.00 |
0 |
10,400 |
0 |
10,400 |
| Statewide Cost Allocation |
0.00 |
0 |
32,100 |
0 |
32,100 |
| Change in Employee Compensation |
0.00 |
0 |
0 |
0 |
0 |
| FY 2007 Program Maintenance |
4.00 |
0 |
596,200 |
0 |
596,200 |
| Enhancements |
|
|
|
|
|
| Endowment Fund Investment Board |
|
|
|
|
|
| 1. Dedicated Fund Shift |
0.00 |
0 |
0 |
0 |
0 |
| 2. Continuous Appropriation |
0.00 |
0 |
0 |
0 |
0 |
| 3. Manager of Investments Salary |
0.00 |
0 |
14,000 |
0 |
14,000 |
| 4. Administrative Assistant Salary |
0.00 |
0 |
11,700 |
0 |
11,700 |
| FY 2007 Total |
4.00 |
0 |
621,900 |
0 |
621,900 |
| Chg from FY 2006 Orig Approp |
0.00 |
0 |
53,700 |
0 |
53,700 |
| % Chg from FY 2006 Orig Approp. |
0.0% |
|
9.5% |
|
9.5% |
.
Contact: Ray Houston 334-4741
Legislative Services Office, Budget & Policy Analysis
| Statement of Purpose/Fiscal Note |
Bill No. H797 |