Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2813 entitled:

begs leave to report as follows:

The purpose of this measure is to appropriate funds to the State of Hawaii endowment fund, a separate fund of the Honolulu Symphony Trust.

The income and capital gains from the State of Hawaii endowment fund are used for the production of music by the Honolulu Symphony, an important cultural, educational, and economic asset that provides world-class music to Hawaii audiences. In addition to its community concerts series, each year the symphony brings music into the lives of over thirty thousand children.

However, annual income from ticket sales and financial support from state, county, and private entities has been insufficient to maintain a balanced budget. As a result, the Honolulu Symphony is at risk of losing many talented musicians and reducing the quality and consistency of its music, which will negatively impact the symphony's programs.

Your Committee finds that making an appropriation to fund the State of Hawaii endowment fund will provide the essential financial stability to ensure that the orchestra's vital music education and enrichment services will remain available and affordable for the general public and, most importantly, for the young people of Hawaii.

Your Committee has amended this measure as follows:

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. 2813, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2813, S.D. 1.