2004 Special Session I

Budget Amendments - HB5001 (Committee Approved)

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Salary Annualization Costs

Item 64 #2h

Item 64 #2h

First Year - FY2005 Second Year - FY2006
Compensation Board FY2005 ($1,127,722) FY2006 ($1,127,722) GF

Page 40, line 25, strike "$326,631,328" and insert "$325,503,606".
Page 40, line 25, strike "$333,277,378" and insert "$332,149,656".
Page 43, after line 19, insert:
"L.  The Compensation Board is authorized to use up to $3,550,000 in the first year and $1,150,00 the second year from projected general fund balances in Items 64, 65, 66, 69 and 70 to address constitutional officer local retirement rate increases and salary annualization costs.  The Compensation Board shall receive approval from the Department of Planning and Budget prior to spending or allocating any portion of the projected amount."

(This amendment eliminates proposed funding of annualization costs due to 2003 salary increase and authorizes use of year end balances for this and VRS rate changes.)