Print Friendly SENATE BILL NO. 1197 – Approp, Endowment Fund Bd
SENATE BILL NO. 1197
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S1197............................................................by FINANCE
APPROPRIATIONS - ENDOWMENT FUND INVESTMENT BOARD - Appropriates $604,500 to
the Office of the Governor for the Endowment Fund Investment Board for
fiscal year 2002; limits the number of full-time equivalent positions to
5.5; provides for continuous appropriation authority for moneys in the
Endowment Administration Fund for consulting fees, bank custodial fees and
portfolio-related costs; and provides legislative intent regarding the
transfer of moneys from the various earning reserve funds to the income
funds.
03/05 Senate intro - 1st rdg - to printing
03/06 Rpt prt - to Fin
Rpt out - rec d/p - to 2nd rdg
03/07 2nd rdg - to 3rd rdg
03/12 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Boatright, Branch(Bartlett), Brandt, Bunderson,
Burtenshaw, Cameron, Danielson, Darrington, Davis, Deide, Dunklin,
Frasure, Geddes, Goedde, Hawkins, Ingram, Ipsen, Keough,
King-Barrutia, Lee, Lodge, Noh, Richardson, Risch, Sandy, Schroeder,
Sims, Sorensen, Stegner, Stennett, Thorne, Wheeler, Whitworth,
Williams,
NAYS -- None
Absent and excused -- None
Floor Sponsor -- Burtenshaw
Title apvd - to House
03/13 House intro - 1st rdg - to 2nd rdg
03/14 2nd rdg - to 3rd rdg
03/21 3rd rdg - PASSED - 64-0-6
AYES -- Barraclough, Barrett, Bedke, Bell, Bieter, Black, Bolz,
Bradford, Bruneel, Callister, Campbell, Chase, Clark, Collins, Cuddy,
Deal, Denney, Ellis, Ellsworth, Eskridge, Field(13), Field(20),
Gould, Hadley, Hammond, Harwood, Henbest, Higgins, Hornbeck, Jaquet,
Jones, Kellogg, Kendell, Lake, Langford, Loertscher, Mader, Marley,
McKague, Meyer, Montgomery, Mortensen, Moss, Moyle, Pearce, Pischner,
Pomeroy, Raybould, Ridinger, Roberts, Robison, Sali, Schaefer,
Sellman, Shepherd, Smylie, Stone, Swan(Block), Tilman, Trail,
Wheeler, Wood, Young, Mr. Speaker
NAYS -- None
Absent and excused -- Boe, Crow, Gagner, Kunz, Smith, Stevenson
Floor Sponsor -- Meyer
Title apvd - to Senate
To enrol
03/23 Rpt enrol - Pres signed
03/26 Sp signed - to Governor
03/28 Governor signed
Session Law Chapter 224
Effective: 07/01/01
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE SENATE
SENATE BILL NO. 1197
BY FINANCE COMMITTEE
1 AN ACT
2 APPROPRIATING MONEYS TO THE BOARD OF LAND COMMISSIONERS FOR THE ENDOWMENT FUND
3 INVESTMENT BOARD FOR FISCAL YEAR 2002; LIMITING THE NUMBER OF FULL-TIME
4 EQUIVALENT POSITIONS; PROVIDING A CONTINUOUS APPROPRIATION FOR CERTAIN
5 COSTS; AND EXPRESSING LEGISLATIVE INTENT REGARDING THE TRANSFER OF MONEYS
6 FROM THE EARNINGS RESERVE FUNDS TO THE INCOME FUNDS.
7 Be It Enacted by the Legislature of the State of Idaho:
8 SECTION 1. There is hereby appropriated to the State Board of Land Com-
9 missioners for the Endowment Fund Investment Board the following amounts, to
10 be expended according to the designated expense classes from the listed funds
11 for the period July 1, 2001, through June 30, 2002:
12 FOR FOR FOR
13 PERSONNEL OPERATING CAPITAL
14 COSTS EXPENDITURES OUTLAY TOTAL
15 ENDOWMENT FUND INVESTMENT BOARD:
16 FROM:
17 Endowment Administrative
18 Fund $290,700 $147,500 $6,500 $444,700
19 Miscellaneous
20 Revenue Fund 112,700 44,600 2,500 159,800
21 TOTAL $403,400 $192,100 $9,000 $604,500
22 SECTION 2. In accordance with Section 67-3519, Idaho Code, the Endowment
23 Fund Investment Board is authorized no more than five and five-tenths (5.5)
24 full-time equivalent positions at any point during the period July 1, 2001,
25 through June 30, 2002, for the program specified in Section 1 of this act,
26 unless specifically authorized by the Governor. The Joint Finance-
27 Appropriations Committee will be notified promptly of any increased positions
28 so authorized.
29 SECTION 3. The Endowment Fund Investment Board is hereby granted continu-
30 ous appropriation authority for moneys in the Endowment Administrative Fund
31 for consulting fees, bank custodial fees and portfolio-related external costs
32 for the period July 1, 2001, through June 30, 2002.
33 SECTION 4. It is legislative intent that for fiscal year 2002, the Endow-
34 ment Fund Investment Board transfer $69,640,000 as follows: $47,675,000 from
35 the Public School Earnings Reserve Fund to the Public School Income Fund;
36 $1,280,000 from the Agricultural College Earnings Reserve Fund to the Agricul-
37 tural College Income Fund; $4,673,000 from the Charitable Institutions Earn-
38 ings Reserve Fund to the Charitable Institutions Income Fund; $4,068,000 from
39 the Normal School Earnings Reserve Fund to the Normal School Income Fund;
40 $1,566,000 from the Penitentiary Earnings Reserve Fund to the Penitentiary
41 Income Fund; $4,709,000 from the Scientific School Earnings Reserve Fund to
2
1 the Scientific School Income Fund; $2,024,000 from the Mental Hospital Earn-
2 ings Reserve Fund to the Mental Hospital Income Fund; and $3,645,000 from the
3 University Earnings Reserve Fund to the University Income Fund.
| Statement of Purpose |
| RS10391 |
This is the FY 2002 Appropriation to the Board of Land Commissioners for the Endowment Fund Investment Board in the amount of $604,500. The agency is funded from dedicated earnings on investments from the State Insurance Fund and state endowments.
.
 
| FY 2001 Original Appropriation |
5.50 |
0 |
603,000 |
0 |
603,000 |
| Recover Gain Sharing (Neg Supp) |
0.00 |
0 |
(6,100) |
0 |
(6,100) |
| FY 2001 Total Appropriation |
5.50 |
0 |
596,900 |
0 |
596,900 |
| Base Adjustments |
0.00 |
0 |
(8,200) |
0 |
(8,200) |
| Other Base Adjustments |
0.00 |
0 |
6,100 |
0 |
6,100 |
| FY 2002 Base |
5.50 |
0 |
594,800 |
0 |
594,800 |
| Personnel Cost Rollups |
0.00 |
0 |
1,400 |
0 |
1,400 |
| Inflationary Adjustments |
0.00 |
0 |
3,000 |
0 |
3,000 |
| Replacement Items |
0.00 |
0 |
3,000 |
0 |
3,000 |
| Nonstandard Adjustments |
0.00 |
0 |
(16,800) |
0 |
(16,800) |
| Change in Employee Compensation |
0.00 |
0 |
13,100 |
0 |
13,100 |
| Fund Shifts |
0.00 |
0 |
0 |
0 |
0 |
| FY 2002 Program Maintenance |
5.50 |
0 |
598,500 |
0 |
598,500 |
| Enhancements |
|
|
|
|
|
| Endowment Fund Investment Board |
|
|
|
|
|
| 1. Continuous Appropriation |
0.00 |
0 |
0 |
0 |
0 |
| 2. Computer Projector |
0.00 |
0 |
6,000 |
0 |
6,000 |
| FY 2002 Total |
5.50 |
0 |
604,500 |
0 |
604,500 |
| Chg from FY 2001 Orig Approp |
0.00 |
0 |
1,500 |
0 |
1,500 |
| % Chg from FY 2001 Orig Approp. |
0.0% |
0 |
0.2% |
0 |
0.2% |
The bill also includes continuous appropriation authority for consulting fees, bank custodial fees and portfolio-related external costs for fiscal year 2002. Finally, the bill includes legislative intent that matches the amounts approved by the land board for approved distributions from the endowment earnings reserve funds to the income funds (beneficiaries) for FY 2002.
.
Contact: Ray Houston 334-4741
Legislative Services Office, Budget & Policy Analysis
| Statement of Purpose/Fiscal Note |
Bill No. S1197 |