475#2c (VRS) VRS: Administrative Cost of VRS Legislation. HB1650 - Conference Report

State Budget

2007 Session

Budget Amendments - HB1650 (Conference Report)

Bill Order » Item 475 #2c

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VRS: Administrative Cost of VRS Legislation

Item 475 #2c

Item 475 #2c	First Year - FY2007	Second Year - FY2008
Independent Agencies
Virginia Retirement System	FY2007 $0	FY2008 $200,000	NGF
	FY2007 0.00	FY2008 1.00	FTE

Language
Page 512, line 29, strike "$23,129,963" and insert "$23,329,963".

Explanation
(This amendment provides $200,000 from the nongeneral fund and 1.00 full-time equivalent position in the second year for the Virginia Retirement System's administrative requirements and systems modification costs of legislation passed during the 2007 Regular Session of the General Assembly.)

Item 475

Item 475	First Year - FY2007	Second Year - FY2008
Administrative and Support Services (79900)	$17,618,795	~~$17,606,080~~ $23,129,963
General Management and Direction (79901)	FY2007 $8,919,161	FY2008 ~~$8,915,946~~ $9,333,215
Information Technology Services (79902)	FY2007 $8,699,634	FY2008 ~~$8,690,134~~ $13,796,748
Fund Sources:
Trust and Agency	FY2007 $17,618,795	FY2008 ~~$17,606,080~~ $23,129,963

Authority: Title 51.1, Chapters 1, 2, 2.1, and 3, Code of Virginia.

A. Out of the amounts appropriated to this Item, the Director is authorized to expend an amount not to exceed $25,000 the first year and $25,000 the second year for expenses commonly borne by business enterprises. Such expenses shall be recorded separately by the agency.