1998 Session

Budget Amendments - HB30 (Conference Report)

VPBA Balances for DOC

Item C-127.01 #1c

Item C-127.01 #1c

First Year - FY1999 Second Year - FY2000
Public Safety
Corrections, Department of FY1999 ($4,163,000) FY2000 ($3,879,000) GF
FY1999 $4,163,000 FY2000 $3,879,000 NGF

Page 369, after line 11, insert:
"C-127.01  Reversion Clearing Account                                    $0           $0
                 Project Management                        $0                   $0
                 Fund Sources:  General             ($4,163,000)     ($3,879,000)
                $4,163,000        $3,879,000
A.  The Special fund amount included in this item consists of reserve fund proceeds and excess interest earned on Virginia Public Building Authority bonds.  The Governor shall authorize the initiation of projects, and allocation of such funds to projects, as further described in this item upon certification to him by the Authority that:  an arbitrage rebate liability calculation has been completed, an affirmative opinion of bond counsel has been received, and excess bond proceeds and interest earnings of the Authority are available.
B.  The Director, Department of Planning and Budget, shall withhold general fund amounts from appropriations provided for in items C-113 through C-127 of this act, and shall allocate special funds appropriated in this item for the purposes identified in those items after the provisions of paragraph A. of this item have been met."

(This amendment reduces general fund appropriations contained in the introduced budget for several Department of Corrections projects, and substitutes special fund appropriations which are available from excess bond proceeds and interest earnings of the Virginia Public Building Authority.)