2007 Session

Budget Bill - HB1650 (Chapter 847)

Virginia Retirement System

Item 475

Item 475

First Year - FY2007Second Year - FY2008
Administrative and Support Services (79900)$17,618,795$17,606,080
General Management and Direction (79901)FY2007 $8,919,161FY2008 $8,915,946
Information Technology Services (79902)FY2007 $8,699,634FY2008 $8,690,134
Fund Sources:  
Trust and AgencyFY2007 $17,618,795FY2008 $17,606,080

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.

B. Out of the amounts appropriated in this item, the Director is authorized to reimburse the Joint Legislative Audit and Review Commission (JLARC) up to $415,000 the second year for the contractual services cost incurred in the review of benefit programs administered by the Virginia Retirement System as part of JLARC's study of state employee compensation.