2016 Session

Budget Bill - SB30 (Introduced)

Fort Monroe Authority

Item 124

Item 124

First Year - FY2017Second Year - FY2018
Economic Development Services (53400)$5,298,368$5,298,372
Administrative Services (53422)FY2017 $5,298,368FY2018 $5,298,372
Fund Sources:  
GeneralFY2017 $5,298,368FY2018 $5,298,372

Authority: Title 2.2, Chapter 22, Code of Virginia.

A.1. Out of the amounts in this Item, $5,298,368 the first year and $5,298,372 the second year from the general fund shall be provided for the Commonwealth's share of the estimated operating expenses of the Fort Monroe Authority (FMA). This appropriation represents the Commonwealth's share of the FMA's estimated operating expenses. These expenses may not be reimbursed by the federal government and shall be reduced by any federal funding the authority may receive for expenditures funded through the Commonwealth's contribution that ultimately qualify for federal reimbursement. Any such reimbursements shall be repaid to the general fund. The State Comptroller shall disburse the first and second year appropriations in twelve equal monthly installments.

2. All moneys of the FMA, from whatever source derived, shall be paid to the treasurer of the FMA. The Auditor of Public Accounts or his legally authorized representatives shall annually examine the accounts of the books of the FMA.

3. Employees of the FMA shall be eligible for membership in the Virginia Retirement System and participation in all of the health and related insurance and other benefits, including premium conversion and flexible benefits, available to state employees as provided by law.

4. Pursuant to § 2.2-2338, Code of Virginia, the Board of Trustees of the FMA shall be deemed a state public body and may meet by electronic communication means in accordance with the requirements set forth in § 2.2-3708, Code of Virginia. Electronic communication shall mean the same as that term is defined in § 2.2-3701, Code of Virginia.

5. Notwithstanding any other provision of law or agreement, the amount paid from all sources of funds by the FMA to the City of Hampton pursuant to § 2.2-2342, Code of Virginia, shall not exceed $983,960 in FY 2017 and $983,960 in FY 2018.