STAND. COM. REP. NO. 650

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 814

       S.D. 2

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 814, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO CERTAIN FUNDS OF THE UNIVERSITY OF HAWAII,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to reclassify or repeal certain special, revolving funds, or trust funds of the University of Hawaii.  In addition, the measure transfers the balance of specific repealed funds to the University of Hawaii auxiliary enterprises special fund.

 

     Your Committee received comments in support of this measure from Howard Todo, Vice President for Budget and Finance/Chief Financial Officer, University of Hawaii System.

 

     Your Committee finds that this measure will provide the University of Hawaii with greater flexibility and increased efficiency in the use and management of its funds.

 

     Your Committee has amended this measure by:

 

     (1)  Correcting an erroneous internal cross-reference;

 

     (2)  Changing the effective date to July 1, 2050, in order to facilitate further discussion on the matter; and

 

     (3)  Making technical nonsubstantive amendments for the purposes of clarity and style.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 814, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 814, S.D. 2.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

____________________________

DAVID Y. IGE, Chair