H. B. 2688
(By Delegates S. Cook, Hendricks, Doyle,
Mezzatesta, Pettit and M. Miller
)
(Originating in the House Committee on Finance)
[March 22, 1993]
A BILL to amend and reenact section one, article five, chapter
eighteen-b of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to authorizing the
higher education governing boards to transfer certain funds
to meet cash flow needs in certain circumstances and
requiring restoration of such funds.
Be it enacted by the Legislature of West Virginia:
That section one, article five, chapter eighteen-b of the
code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted to read as follows:
ARTICLE 5. HIGHER EDUCATION BUDGETS AND EXPENDITURES.
§18B-5-1. Budget appropriations.
The budget appropriations for the state system of higher
education under this chapter and other provisions of law shall
consist of three major areas of appropriation consisting of (1)
an appropriation for the higher education governing boards which
shall be for the operation of the governing boards, the central
office, the senior administrator and the staff of the senioradministrator, (2) separate control accounts or institutional
control accounts, or some combination of such accounts, for
appropriations to the board of trustees to be allocated to the
institutions under the state university system and to the board
of directors to be allocated to the state college system, and (3)
such special tuition and registration fee special capital
improvement funds and revenue bond funds as may be necessary for
the disposition of tuition and registration fee collections to
protect the interests of all holders of obligations for which
such fees were pledged by the board of regents higher education
governing boards and shall remain pledged under the governing
boards.
Notwithstanding any other provision of this code to the
contrary, if a quarterly allocation of appropriations from the
general revenue fund to the respective governing boards is
insufficient to meet the cash flow needs within their respective
systems to meet their payroll requirements, the boards may
authorize the institutions to transfer funds from the various
special revenue accounts under their jurisdiction to meet these
needs, except funds whose use is governed by bonding covenants:
Provided,
That the amounts of funds so transferred shall be
restored to the accounts from which the transfers were made by
the end of the fiscal year in which the transfers occurred:
Provided, however,
That if such amounts are not repaid within the
fiscal year then the next quarterly allotment shall be withheld:
Provided further,
That the respective spending units have first
pursued appropriate administrative remedies to avoid anticipated
cash flow shortages:
And provided further,
That nothing hereinrestricts the ability of the boards to respond to reductions of
appropriations imposed in accordance with article two, chapter
five-a of this code within the restoration period.
The appropriations for the state university system and the
state college system until the first day of July, one thousand
nine hundred ninety-one, shall be in the same percentages of the
total of the appropriations to such accounts as the percentages
of the combined institutions under such systems received in
allocations in the fiscal year one thousand nine hundred eighty-
eight--eighty-nine.