2020 Special Session I

Budget Amendments - HB5005 (Conference Report)

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Use of Fund Balances (language only)

Item 3-4.01 #1c

Item 3-4.01 #1c

Auxiliary Enterprises and Sponsored Programs in Institutions of Higher Education
Auxiliary Enterprise Investment Yields


Page 234, after line 33, insert:

"4. a. Institutions of higher education shall have the authority to use available fund balances from other fund sources, to include educational and general program reserves, to support operations, increased costs or revenue reductions, for auxiliary enterprise programs for the 2020-2022 biennium.  However, with the exception of transfer payments, educational and general program reserves may not be used to directly support intercollegiate athletics.

b. Any use of available fund balances pursuant to these temporary provisions shall be subject to approval by the Board of Visitors of the institution, provided that the Board has also reviewed the measures of financial status included in the most recent Auditor of Public Account Higher Education Comparative Report. Prior to any transfer, the institution shall provide the approval resolution to the Chairs the House Appropriations and Senate Finance and Appropriations Committees."


(This amendment provides additional flexibility for the use of fund balances to address expenses related to the COVID-19 pandemic.)