Higher Education Trust Fund
Item 571 #1c
Item 571 #1c | First Year - FY1999 | Second Year - FY2000 | |
| Independent Agencies |
| Board of the Virginia Higher Education Tuition Trust Fund | FY1999 $2,340,810 | FY2000 $2,846,735 | NGF |
| FY1999 4.00 | FY2000 4.00 | FTE |
Language
Page 336, line 2, strike:
"Investment, Trust and Insurance Services a sum sufficient" and insert:
"Administrative and Support Services $2,340,810 $2,846,735".
Page 336, after line 2, insert:
"General Management and Direction $2,340,810 $2,846,735".
Page 336, line 3, strike "a sum sufficient" and insert "$2,340,810 $2,846,735".
Page 336, strike lines 5 through 9, and insert:
"571.01 Investment, Trust and Insurance Services (72503) a sum sufficient
Fund Sources: Special a sum sufficient
There is hereby appropriated to the Virginia Higher Education Tuition Trust Fund a sum sufficient, estimated at $1,377,560 the first year and $1,452,310 the second year, to be funded from nongeneral funds pursuant to §23-38.76, Code of Virginia, to cover variable or unpredictable costs of the agency.
571.02
Investment, Trust and Insurance Services (72503) a sum sufficient
Fund Sources: Special a sum sufficient
There is hereby appropriated to the Virginia Higher Education Tuition Trust Fund a sum sufficient, estimated at $75,000 the second year, to be funded from nongeneral funds pursuant to §23-38.76, Code of Virginia, to cover payment of benefits to post-secondary educational institutions on behalf of program participants."
Explanation
(This amendment provides for an administrative appropriation rather than a sum sufficient authorization for the Virginia Higher Education Tuition Trust Fund, and provides an increase in the agency employment level based on action of the Trust Fund Board.)