STAND. COM. REP. NO.  1487

Honolulu, Hawaii

                , 2011

RE:   S.B. No. 1331

      S.D. 2

      H.D. 2

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 1331, S.D. 2, H.D. 1, entitled:

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

begs leave to report as follows:

     The purpose of this bill is to require the University of Hawaii (UH) to report projected cash flow and related estimates for those funds where unencumbered cash balances or cash deficits exceed an unspecified percentage of the previous fiscal year's expenditures.

     UH testified in support of this bill.

     Your Committee has amended this bill by:

(1)  With respect to the percentage of the previous fiscal year's expenditures, specifying that the percentage is the estimated:

(A)  Expenses for the current fiscal year;

(B)  Revenues for the current fiscal year; and

(C)  Unencumbered cash balance or cash deficit at the end of the current fiscal year;

and

(2)  Changing its effective date to July 1, 2030.

     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 S.B. No. 1331, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1331, S.D. 2, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair