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2000 Session

Budget Bill - HB29 (Chapter 1072)

Board of the Virginia Higher Education Tuition Trust Fund

Item 571.10

Item 571.10 (Not set out)

First Year - FY1999Second Year - FY2000
Investment, Trust, and Insurance Services (72500)sum sufficient
Fund Sources:  

Authority: Title 23, Chapter 4.9, Code of Virginia.


A. Amounts for Investment Services cover variable or unpredictable cost of the agency, estimated at $1,377,560 the first year and $1,452,310 the second year, to be funded from nongeneral funds pursuant to § 23-38.76, Code of Virginia.


B. Amounts for Payments to Institutions of Higher Education represent the payment of benefits to postsecondary educational institutions on behalf of program participants, estimated at $75,000 the second year, to be funded from nongeneral funds pursuant to § 23-38.76, Code of Virginia.


C. Amounts for Payments to Institutions of Higher Education cover the current obligations of the Fund as provided for in Title 23, Chapter 4.9, Code of Virginia (§ 23-38.78 B), as amended.