475#2s (VRS) VRS: Administrative Cost of VRS Legislation. SB750 - Committee Approved

State Budget

2007 Session

Budget Amendments - SB750 (Committee Approved)

Bill Order » Item 475 #2s

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VRS: Administrative Cost of VRS Legislation

Item 475 #2s

Item 475 #2s	First Year - FY2007	Second Year - FY2008
Independent Agencies
Virginia Retirement System	FY2007 $0	FY2008 $666,156	NGF
	FY2007 0.00	FY2008 2.00	FTE

Language
Page 512, line 29, strike "$23,129,963" and insert "$23,796,119".

Explanation
(This amendment provides $666,156 NGF and 2.00 FTE positions the second year for the Virginia Retirement System's administrative requirements and systems modification costs of legislation passed by the Senate of Virginia at the 2007 session.)

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.