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2002 Session

Budget Amendments - SB30 (Committee Approved)

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Executive Management Savings - Va. College Savings Plan (language only)

Item 3-1.01 #27s

Item 3-1.01 #27s

Transfers
Interfund Transfers

Language
Page 419, after line 24, insert:
"AA. Prior to June 30, 2003, the State Comptroller shall transfer from nongeneral fund accounts of the Virginia College Savings Plan an amount estimated at $260,045 representing savings resulting from 7 percent reductions in administrative expenses of the Virginia College Savings Plan for fiscal year 2003.  Prior to June 30, 2004, the State Comptroller shall transfer from nongeneral fund accounts of the State Lottery Department an amount estimated at $298,259 for fiscal year 2004."


Explanation
(This amendment captures administrative budget savings of 7% the first year and 8% the second year from the Virginia College Savings Plan.)