Print Friendly SENATE BILL NO. 1499<br />
– Approp, Endowment Fund Investmt Bd
SENATE BILL NO. 1499
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S1499............................................................by FINANCE
APPROPRIATIONS - ENDOWMENT FUND INVESTMENT BOARD - Appropriates $621,300 to
the State Board of Land Commissioners for the Endowment Fund Investment
Board for fiscal year 2009; 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 earnings reserve funds to the
income funds.
03/13 Senate intro - 1st rdg - to printing
03/14 Rpt prt - to Fin
Rpt out - rec d/p - to 2nd rdg
03/17 2nd rdg - to 3rd rdg
03/19 3rd rdg - PASSED - 34-0-1
AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Geddes, Goedde,
Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst, Little,
Lodge, Malepeai(Sagness), McGee, McKague, McKenzie, Pearce,
Richardson, Schroeder, Siddoway, Stegner, Stennett, Werk
NAYS -- None
Absent and excused -- Gannon
Floor Sponsor - Fulcher
Title apvd - to House
03/20 House intro - 1st rdg - to 2nd rdg
03/21 2nd rdg - to 3rd rdg
Rls susp - PASSED - 65-0-5
AYES -- Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black, Block,
Bock, Boe, Bolz, Bowers, Brackett, Bradford, Chadderdon, Chavez,
Chew, Clark, Collins, Crane, Durst, Eskridge, Hagedorn, Hart,
Harwood, Henbest, Henderson, Killen, King, Kren, Labrador, LeFavour,
Loertscher, Luker, Marriott, Mathews, McGeachin, Mortimer, Moyle,
Nielsen, Nonini, Pasley-Stuart, Patrick, Pence, Raybould, Ringo,
Roberts, Ruchti, Rusche, Sayler, Schaefer, Shepherd(08), Shirley,
Shively, Smith(30), Smith(24), Snodgrass, Stevenson, Thomas, Trail,
Vander Woude, Wills, Wood(27), Wood(35), Mr. Speaker
NAYS -- None
Absent and excused -- Anderson, Jaquet, Lake, Shepherd(02), Thayn
Floor Sponsor - Bolz
Title apvd - to Senate
03/24 To enrol
03/25 Rpt enrol - Pres signed
03/26 Sp signed - to Governor
04/01 Governor signed
Session Law Chapter 339
Effective: 07/01/08
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature Second Regular Session - 2008
IN THE SENATE
SENATE BILL NO. 1499
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 2009; 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, 2008, through June 30, 2009:
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 $ 97,600 $ 35,500 $1,900 $135,000
19 Endowment
20 Administrative
21 Fund 314,400 165,800 6,100 486,300
22 TOTAL $412,000 $201,300 $8,000 $621,300
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, 2008, through June 30, 2009,
26 for the program specified in Section 1 of this act, unless specifically
27 authorized 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, 2008, through June 30, 2009.
33 SECTION 4. It is legislative intent that for fiscal year 2009, the Endow-
34 ment Fund Investment Board transfer $42,413,100 as follows: $29,692,900 from
35 the Public School Earnings Reserve Fund to the Public School Income Fund;
36 $794,000 from the Agricultural College Earnings Reserve Fund to the Agricul-
37 tural College Income Fund; $2,826,100 from the Charitable Institutions Earn-
38 ings Reserve Fund to the Charitable Institutions Income Fund; $2,534,100 from
39 the Normal School Earnings Reserve Fund to the Normal School Income Fund;
40 $794,000 from the Penitentiary Earnings Reserve Fund to the Penitentiary
41 Income Fund; $2,332,300 from the Scientific School Earnings Reserve Fund to
2
1 the Scientific School Income Fund; $1,258,700 from the Mental Hospital Earn-
2 ings Reserve Fund to the Mental Hospital Income Fund; and $2,181,000 from the
3 University Earnings Reserve Fund to the University Income Fund.
| Statement of Purpose |
| RS17234 |
This is the fiscal year 2009 Appropriation Bill to the Land Board for the Endowment Fund Investment Board. The appropriation is in the amount of $621,300 of which $135,000 or 22% is from Miscellaneous Revenues and $486,300 or 78% 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 2009.
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 about $29.7 million and pooled distributions of about $12.7 million.
.
 
| FY 2008 Original Appropriation |
4.00 |
0 |
639,400 |
0 |
639,400 |
| Removal of One-Time Expenditures |
0.00 |
0 |
(6,000) |
0 |
(6,000) |
| Base Adjustments |
0.00 |
0 |
(12,000) |
0 |
(12,000) |
| FY 2009 Base |
4.00 |
0 |
621,400 |
0 |
621,400 |
| Benefit Costs |
0.00 |
0 |
7,800 |
0 |
7,800 |
| Inflationary Adjustments |
0.00 |
0 |
0 |
0 |
0 |
| Replacement Items |
0.00 |
0 |
8,000 |
0 |
8,000 |
| Statewide Cost Allocation |
0.00 |
0 |
(26,700) |
0 |
(26,700) |
| Change in Employee Compensation |
0.00 |
0 |
10,800 |
0 |
10,800 |
| FY 2009 Program Maintenance |
4.00 |
0 |
621,300 |
0 |
621,300 |
| Line Items |
|
|
|
|
|
| Endowment Fund Investment Board |
|
|
|
|
|
| 1. Adjust Budget between Funds |
0.00 |
0 |
0 |
0 |
0 |
| 2. Continuous Appropriation |
0.00 |
0 |
0 |
0 |
0 |
| FY 2009 Total |
4.00 |
0 |
621,300 |
0 |
621,300 |
| Chg from FY 2008 Orig Approp |
0.00 |
0 |
(18,100) |
0 |
(18,100) |
| % Chg from FY 2008 Orig Approp. |
0.0% |
|
(2.8%) |
|
(2.8%) |
Line item 1 includes the shift of $14,200 from the Endowment Administrative Fund to the Miscellaneous Revenue Fund. This shift is calculated annually based on the proportion of time spent on the various portfolios.
Contact: Ray Houston 334-4741
Legislative Services Office, Budget & Policy Analysis
| Statement of Purpose/Fiscal Note |
Bill No. S1499 |