Higher education appropriations.

06LSO-0145.C1

FISCAL NOTE

This bill contains an appropriation of $556,200 from the GENERAL FUND to the Department of Education. This bill contains an authorization of 4 Full-Time positions to the Department of Education. The positions shall be funded from the above appropriation. The above appropriation and authorized positions are effective immediately.

This bill contains an appropriation of $13,500,000 from the COMMON SCHOOL PERMANENT FUND RESERVE ACCOUNT to the Hathaway Scholarship Expenditure Account. These funds shall only be deposited to the Hathaway Scholarship Expenditure Account after all other funds within that account have been expended and shall only be deposited to that account as needed to fund payments to the University of Wyoming and the community colleges under the Hathaway Scholarship program for the 2006-07 school year. After all such payments are made for the 2006-07 school year, any remaining funds shall be deposited from this appropriation to the Hathaway Scholarship Reserve Account.

This bill contains an appropriation of $4,200,000 from the COMMON SCHOOL PERMANENT FUND RESERVE ACCOUNT. Of this appropriation, $1,400,000 shall be equally distributed among each of Wyoming's seven community colleges to be expended exclusively as specified in W.S. 21-16-1203(b). Of this appropriation, $2,800,000 shall be distributed to the University of Wyoming to be expended exclusively as specified in W.S. 21-16-1202(b).

The impact to investment income is indeterminable as it is not known if and when the $13,500,000 appropriation from the Common School Permanent Fund Reserve Account will be transferred to the Hathaway Scholarship Expenditure Account, and it is not known when all other funds within the Hathaway Scholarship Expenditure Account will be expended.  It is also not known if and/or the dollar amount of the appropriation remaining after the 2006-07 school year that will be deposited in the Hathaway Scholarship Reserve Account.

Prepared by:   Dean Temte, LSO    Phone:   777-7881

(Info. provided by Sharon Garland, Treasurer's Office; 777-7475:

Fred Hansen, Dept. of Education; 777-7804)