Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 2787, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to repeal the Department of Education (DOE) Storeroom Revolving Fund (Fund).

The Hawaii State Teachers Association, DOE, and the State Auditor testified in support of this measure.

Your Committee has amended this bill by requiring the Superintendent of Education to transfer any unexpended or unencumbered funds from the Fund as of December 31, 2002, to the general fund.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2787, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2787, H.D. 2.