Print Friendly HOUSE BILL NO. 258 – Approp, Endowment Fund Investmt Bd
HOUSE BILL NO. 258
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H0258.....................................................by APPROPRIATIONS
APPROPRIATIONS - ENDOWMENT FUND INVESTMENT BOARD - Appropriates $639,400 to
the State Board of Land Commissioners for the Endowment Fund Investment
Board for fiscal year 2008; 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; directs the distribution of the funding for employee compensation;
and directs the allocation of salary savings.
03/01 House intro - 1st rdg - to printing
03/02 Rpt prt - to 2nd rdg
03/05 2nd rdg - to 3rd rdg
03/06 3rd rdg - PASSED - 68-0-2
AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
Block, Bock, Boe, Bolz, Brackett, Bradford, Chadderdon, Chavez, Chew,
Clark, Collins, Crane, Durst, Edmunson, Eskridge, Hagedorn, Hart,
Harwood, Henbest, Henderson, Jaquet, Killen, King, Kren, LeFavour,
Loertscher, Luker, Marriott, Mathews, McGeachin, Mortimer, Moyle,
Nielsen, Nonini, Pasley-Stuart, Patrick, Pence, Raybould, Ring,
Ringo, Roberts, Ruchti, Rusche, Sayler, Schaefer, Shepherd(2),
Shepherd(8), Shirley, Shively, Smith(30), Smith(24), Snodgrass,
Stevenson, Thayn, Trail, Vander Woude, Wills, Wood(27), Wood(35), Mr.
Speaker
NAYS -- None
Absent and excused -- Labrador, Lake
Floor Sponsor - Henderson
Title apvd - to Senate
03/07 Senate intro - 1st rdg - to Fin
03/08 Rpt out - rec d/p - to 2nd rdg
03/09 2nd rdg - to 3rd rdg
03/14 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Gannon, Geddes,
Goedde, Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst,
Little, Lodge, Malepeai, McGee, McKague, McKenzie, Pearce,
Richardson, Schroeder, Siddoway, Stegner, Stennett, Werk
NAYS -- None
Absent and excused -- None
Floor Sponsor - Fulcher
Title apvd - to House
03/14 To enrol
03/15 Rpt enrol - Sp signed - Pres signed
03/16 To Governor
03/21 Governor signed
Session Law Chapter 146
Effective: 07/01/07
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature First Regular Session - 2007
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 258
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 2008; 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; DIRECTING THE DISTRIBUTION
7 OF THE FUNDING FOR EMPLOYEE COMPENSATION; AND DIRECTING THE ALLOCATION OF
8 SALARY SAVINGS.
9 Be It Enacted by the Legislature of the State of Idaho:
10 SECTION 1. There is hereby appropriated to the State Board of Land Com-
11 missioners for the Endowment Fund Investment Board the following amounts to be
12 expended according to the designated expense classes from the listed funds for
13 the period July 1, 2007, through June 30, 2008:
14 FOR FOR FOR
15 PERSONNEL OPERATING CAPITAL
16 COSTS EXPENDITURES OUTLAY TOTAL
17 ENDOWMENT FUND INVESTMENT BOARD:
18 FROM:
19 Miscellaneous
20 Revenue Fund $ 77,700 $ 46,400 $1,300 $125,400
21 Endowment
22 Administrative
23 Fund 315,700 193,600 4,700 514,000
24 TOTAL $393,400 $240,000 $6,000 $639,400
25 SECTION 2. In accordance with Section 67-3519, Idaho Code, the Endowment
26 Fund Investment Board is authorized no more than four (4) full-time equivalent
27 positions at any point during the period July 1, 2007, through June 30, 2008,
28 for the program specified in Section 1 of this act, unless specifically autho-
29 rized by the Governor. The Joint Finance-Appropriations Committee will be
30 notified promptly of any increased positions so authorized.
31 SECTION 3. The Endowment Fund Investment Board is hereby granted continu-
32 ous appropriation authority for moneys in the Endowment Administrative Fund
33 for consulting fees, bank custodial fees and portfolio-related external costs
34 for the period July 1, 2007, through June 30, 2008.
35 SECTION 4. It is legislative intent that for fiscal year 2008, the Endow-
36 ment Fund Investment Board transfer $38,617,000 as follows: $26,995,000 from
37 the Public School Earnings Reserve Fund to the Public School Income Fund;
38 $725,000 from the Agricultural College Earnings Reserve Fund to the Agricul-
39 tural College Income Fund; $2,582,000 from the Charitable Institutions Earn-
40 ings Reserve Fund to the Charitable Institutions Income Fund; $2,310,000 from
41 the Normal School Earnings Reserve Fund to the Normal School Income Fund;
2
1 $728,000 from the Penitentiary Earnings Reserve Fund to the Penitentiary
2 Income Fund; $2,138,000 from the Scientific School Earnings Reserve Fund to
3 the Scientific School Income Fund; $1,149,000 from the Mental Hospital Earn-
4 ings Reserve Fund to the Mental Hospital Income Fund; and $1,990,000 from the
5 University Earnings Reserve Fund to the University Income Fund.
6 SECTION 5. SALARY DISTRIBUTION. Agencies and institutions shall distrib-
7 ute the funding for employee compensation based on merit as follows:
8 (a) Agencies and institutions are directed to, based on merit, target
9 funding first toward high turnover classifications and individuals below
10 midpoint within their agency.
11 (b) Agencies and institutions are directed to, based on merit, target
12 funding second toward positions within their agency that are below ninety
13 percent (90%) of the Compa-Ratio.
14 (c) Agencies and institutions are directed to target any remaining fund-
15 ing based on merit using the merit matrix required by Idaho Code.
16 Agencies and institutions shall create compensation and distribution plans to
17 ensure that they are consistent with the policies contained herein. Agency
18 directors and institutional presidents shall approve all compensation and dis-
19 tribution plans and ensure that implementation of the plans is consistent with
20 policies contained herein. Each agency and institution shall forward, for
21 informational purposes, approved copies of the compensation and distribution
22 plans to the Legislative Services Office and the Division of Financial Manage-
23 ment by June 1, 2007. The effective date of implementation of ongoing salary
24 adjustments shall be June 17, 2007.
25 SECTION 6. SALARY SAVINGS. The Endowment Fund Investment Board is hereby
26 directed to allocate salary savings, based on performance, to provide for
27 employee salary needs before other operational budget priorities are consid-
28 ered. Where applicable, employees whose salaries are below the midpoint of
29 their pay grade or occupational groups with significant turnover rates shall
30 be considered first in the order of salary savings distributions.
| Statement of Purpose |
| RS16388 |
This is the fiscal year 2008 Appropriation Bill to the Land Board for the Endowment Fund Investment Board. The appropriation is in the amount of $639,400 of which $125,400 or 20% is from State Insurance Funds and $514,000 or 80% 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 2008.
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 $27 million and pooled distributions of $11.6 million.
Section 5 directs the distribution of additional compensation funding based on merit and Section 6 directs the allocation of salary savings, based on performance, before other operational needs are considered.
.
 
| FY 2007 Original Appropriation |
4.00 |
0 |
627,800 |
0 |
627,800 |
| Removal of One-Time Expenditures |
0.00 |
0 |
(10,400) |
0 |
(10,400) |
| FY 2008 Base |
4.00 |
0 |
617,400 |
0 |
617,400 |
| Benefit Costs |
0.00 |
0 |
1,900 |
0 |
1,900 |
| Inflationary Adjustments |
0.00 |
0 |
700 |
0 |
700 |
| Replacement Items |
0.00 |
0 |
3,500 |
0 |
3,500 |
| Statewide Cost Allocation |
0.00 |
0 |
(3,300) |
0 |
(3,300) |
| Change in Employee Compensation |
0.00 |
0 |
16,700 |
0 |
16,700 |
| FY 2008 Program Maintenance |
4.00 |
0 |
636,900 |
0 |
636,900 |
| Enhancements |
|
|
|
|
|
| Endowment Fund Investment Board |
|
|
|
|
|
| 1. Adjust Budget between Funds |
0.00 |
0 |
0 |
0 |
0 |
| 2. Continuous Appropriation |
0.00 |
0 |
0 |
0 |
0 |
| 3. Board Room Furniture |
0.00 |
0 |
2,500 |
0 |
2,500 |
| 4. Judges Retirement Expenses |
0.00 |
0 |
0 |
0 |
0 |
| FY 2008 Total |
4.00 |
0 |
639,400 |
0 |
639,400 |
| Chg from FY 2007 Orig Approp |
0.00 |
0 |
11,600 |
0 |
11,600 |
| % Chg from FY 2007 Orig Approp. |
0.0% |
|
1.8% |
|
1.8% |
Contact: Ray Houston 334-4741
Legislative Services Office, Budget & Policy Analysis
| Statement of Purpose/Fiscal Note |
Bill No. H258 |