Print Friendly HOUSE BILL NO. 764 – Approp, Endowment Fund Investmt Bd
HOUSE BILL NO. 764
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H0764.....................................................by APPROPRIATIONS
APPROPRIATIONS - ENDOWMENT FUND INVESTMENT BOARD - Appropriates $550,200 to
the State Board of Land Commissioners for the Endowment Fund Investment
Board for fiscal year 2005; 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; and provides legislative intent regarding
the transfer of moneys from the various earning reserve funds to the income
funds.
02/25 House intro - 1st rdg - to printing
02/26 Rpt prt - to 2nd rdg
02/27 2nd rdg - to 3rd rdg
03/02 3rd rdg - PASSED - 64-0-6
AYES -- Andersen, Barraclough, Barrett, Bauer, Bayer, Bedke, Bell,
Black, Block, Boe, Bolz, Bradford, Campbell, Cannon, Clark, Collins,
Crow, Cuddy, Deal, Denney, Douglas, Eberle, Edmunson, Ellsworth,
Eskridge, Field(18), Field(23), Gagner, Garrett, Harwood, Henbest,
Jaquet, Jones, Kellogg, Kulczyk, Lake, Langford, Langhorst, Martinez,
McKague, Miller, Mitchell, Naccarato, Nielsen, Pasley-Stuart,
Raybould, Ridinger, Ring, Ringo, Robison, Rydalch, Sali, Sayler,
Shepherd, Shirley, Skippen, Smith(30), Smith(24), Smylie, Snodgrass,
Stevenson, Trail(Bennett), Wills, Wood
NAYS -- None
Absent and excused -- McGeachin, Meyer, Moyle, Roberts, Schaefer, Mr.
Speaker
Floor Sponsor - Harwood
Title apvd - to Senate
03/03 Senate intro - 1st rdg - to Fin
03/04 Rpt out - rec d/p - to 2nd rdg
03/05 2nd rdg - to 3rd rdg
03/15 3rd rdg - PASSED - 29-0-6
AYES -- Andreason, Bailey, Bunderson, Burkett, Burtenshaw,
Calabretta, Compton, Darrington, Gannon, Geddes, Goedde, Hill,
Ingram, Kennedy, Keough, Little, Lodge, Malepeai, Marley, McKenzie,
McWilliams, Noble, Pearce, Richardson, Schroeder, Sorensen, Stegner,
Sweet, Werk
NAYS -- None
Absent and excused -- Brandt, Cameron, Davis, Noh, Stennett, Williams
Floor Sponsor - McKenzie
Title apvd - to House
03/16 To enrol
03/17 Rpt enrol - Sp signed
03/18 Pres signed - To Governor
03/23 Governor signed
Session Law Chapter 195
Effective: 07/01/04
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-seventh Legislature Second Regular Session - 2004
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 764
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 2005; 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 be
10 expended according to the designated expense classes from the listed funds for
11 the period July 1, 2004, through June 30, 2005:
12 FOR FOR FOR
13 PERSONNEL OPERATING CAPITAL
14 COSTS EXPENDITURES OUTLAY TOTAL
15 ENDOWMENT FUND INVESTMENT BOARD:
16 FROM:
17 Miscellaneous
18 Revenue Fund $102,800 $ 46,000 $1,500 $150,300
19 Endowment
20 Administrative
21 Fund 235,900 160,500 3,500 399,900
22 TOTAL $338,700 $206,500 $5,000 $550,200
23 SECTION 2. In accordance with Section 67-3519, Idaho Code, the Endowment
24 Fund Investment Board is authorized no more than four (4) full-time equivalent
25 positions at any point during the period July 1, 2004, through June 30, 2005,
26 for the program specified in Section 1 of this act, unless specifically autho-
27 rized by the Governor. The Joint Finance-Appropriations Committee will be
28 notified promptly of any increased positions 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, 2004, through June 30, 2005.
33 SECTION 4. It is legislative intent that for fiscal year 2005, the Endow-
34 ment Fund Investment Board transfer $37,676,200 as follows: $22,957,800 from
35 the Public School Earnings Reserve Fund to the Public School Income Fund;
36 $760,800 from the Agricultural College Earnings Reserve Fund to the Agricul-
37 tural College Income Fund; $2,814,900 from the Charitable Institutions Earn-
38 ings Reserve Fund to the Charitable Institutions Income Fund; $2,741,300 from
39 the Normal School Earnings Reserve Fund to the Normal School Income Fund;
40 $1,134,200 from the Penitentiary Earnings Reserve Fund to the Penitentiary
41 Income Fund; $3,136,900 from the Scientific School Earnings Reserve Fund to
2
1 the Scientific School Income Fund; $1,499,400 from the Mental Hospital Earn-
2 ings Reserve Fund to the Mental Hospital Income Fund; and $2,630,900 from the
3 University Earnings Reserve Fund to the University Income Fund.
| Statement of Purpose |
| RS13388 |
This is the fiscal year 2005 appropriation for the Endowment Fund Investment Board in the amount of $550,200 in dedicated funds. It is funded 70% by endowment administrative funds and 30% by earnings from the investment of the State Insurance Fund. The budget includes a cap of 4 full-time equivalent positions and legislative intent for continuous appropriation authority for consulting fees, bank custodial fees, and portfolio-related external costs.
.
 
| FY 2004 Original Appropriation |
5.00 |
0 |
630,300 |
0 |
630,300 |
| Non-Cognizable Funds and Transfers |
(1.00) |
0 |
(54,000) |
0 |
(54,000) |
| FY 2004 Estimated Expenditures |
4.00 |
0 |
576,300 |
0 |
576,300 |
| Removal of One-Time Expenditures |
0.00 |
0 |
(5,800) |
0 |
(5,800) |
| Base Adjustments |
0.00 |
0 |
(27,000) |
0 |
(27,000) |
| FY 2005 Base |
4.00 |
0 |
543,500 |
0 |
543,500 |
| Personnel Cost Rollups |
0.00 |
0 |
5,200 |
0 |
5,200 |
| Inflationary Adjustments |
0.00 |
0 |
0 |
0 |
0 |
| Replacement Items |
0.00 |
0 |
5,000 |
0 |
5,000 |
| Nonstandard Adjustments |
0.00 |
0 |
(9,200) |
0 |
(9,200) |
| Change in Employee Compensation |
0.00 |
0 |
5,700 |
0 |
5,700 |
| Fund Shifts |
0.00 |
0 |
0 |
0 |
0 |
| FY 2005 Program Maintenance |
4.00 |
0 |
550,200 |
0 |
550,200 |
| Enhancements |
|
|
|
|
|
| Endowment Fund Investment Board |
|
|
|
|
|
| 1. Continuous Appropriation |
0.00 |
0 |
0 |
0 |
0 |
| FY 2005 Total |
4.00 |
0 |
550,200 |
0 |
550,200 |
| Chg from FY 2004 Orig Approp |
(1.00) |
0 |
(80,100) |
0 |
(80,100) |
| % Chg from FY 2004 Orig Approp. |
(20.0%) |
|
(12.7%) |
|
(12.7%) |
The bill also reflects legislative intent reaffirming the amounts the Land Board has authorized the Endowment Fund Investment Board to transfer to the endowment income funds for FY 2004. The transfers from the earnings reserves to the income funds for FY 2005 reflect a $14.8 million decrease for public schools and a $2.6 million decrease for the other endowment beneficiaries from the amount being transferred in the current year.
.
Contact: Ray Houston 334-4741
Legislative Services Office, Budget & Policy Analysis
| Statement of Purpose/Fiscal Note |
Bill No. H764 |