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2010 Session

Budget Amendments - SB30 (Committee Approved)

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Comp Board: Treasurers Reduction

Item 423 #6s

Item 423 #6s

First Year - FY2011 Second Year - FY2012
Public Safety
Compensation Board FY2011 ($2,032,590) FY2012 ($2,032,590) GF

Language
Page 288, line 14, strike "$8,546,944" and insert "$6,514,354".
Page 288, line 14, strike "$8,546,944" and insert "$6,514,354".
"E. Notwithstanding the provisions of paragraphs B. and D. of § 15.2-1636.14, Code of Virginia, the Compensation Board shall reimburse localities at 45 percent of the Compensation Board approved budgeted amounts for the salaries, expenses and other allowances of local Treasurers, except that for the salaries of the elected Treasurers, the Compensation Board shall reimburse localities at 45 percent of the amount of such salaries paid during the fiscal year ended June 30, 1980 plus 90 percent of all increases to such salaries occurring after June 30, 1980."


Explanation
(This amendment captures savings of $2.0 million GF the first year and $2.0 million GF the second year from a 10 percent across-the-board reduction in Compensation Board reimbursements for local Treasurers. When combined with other actions the net reduction for these offices is approximately 9.7 percent.)