484#1h (VRS) HB 1890 - VRS Streamline Purchase of Service. HB1400

State Budget

2015 Session

Budget Amendments - HB1400 (Floor Approved)

Bill Order » Item 484 #1h

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HB 1890 - VRS Streamline Purchase of Service

Item 484 #1h

Item 484 #1h	First Year - FY2015	Second Year - FY2016
Independent Agencies
Virginia Retirement System	FY2015 $0	FY2016 $552,500	NGF

Language
Page 463, line 31, strike "$28,759,424" and insert "$29,311,924".

Explanation
(This amendment provides $552,500 from the nongeneral fund in administrative funding for the VRS to implement the provisions of House Bill 1890 of the 2015 General Assembly session which streamlines the purchase of prior year service. Long run savings from the streamlining is expected to be substantially more than the $552,500 up front cost.)

Item 484

Item 484	First Year - FY2015	Second Year - FY2016
Administrative and Support Services (79900)	$29,120,424	$28,759,424
General Management and Direction (79901)	FY2015 $15,651,563	FY2016 $15,651,563
Information Technology Services (79902)	FY2015 $13,468,861	FY2016 $13,107,861
Fund Sources:
Trust and Agency	FY2015 $29,120,424	FY2016 $28,759,424

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

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.

State Budget

2015 Session

Budget Amendments - HB1400 (Floor Approved)

HB 1890 - VRS Streamline Purchase of Service

Item 484 #1h

Item 484 #1h

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Item 484