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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 - 2006IN 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.
 
Fiscal Note |
FTP | Gen | Ded | Fed | Total |
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% |
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Contact: Ray Houston 334-4741
Legislative Services Office, Budget & Policy Analysis
Statement of Purpose/Fiscal Note | Bill No. H797 |
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