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| SPONSOR: | Maes | DATE TYPED: | 2/18/99 | HB | |||
| SHORT TITLE: | SFCC Refunding of Overpayments | SB | 417 | ||||
| ANALYST: | Pacheco-Perez | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY99 | FY2000 | FY99 | FY2000 | ||
| $ 602.7 | Non-Rec | GF | |||
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
Commission on Higher Education (CHE)
SUMMARY
Synopsis of Bill
This bill appropriates $602,694 to the Board of the Santa Fe Community College for the purpose of refunding overpayments made by the county of Santa Fe. This bill carries an emergency clause.
FISCAL IMPLICATIONS
The appropriation of $602,694 contained in this bill is a non-recurring expense to the general fund for expenditure in fiscal years 1999 and 2000. Any unexpended or unencumbered balance remaining at the end of FY00 shall revert to the general fund.
OTHER SUBSTANTIVE ISSUES
According to the CHE, the appropriation proposed in this bill will address the overpayment made to SFCC by the County of Santa Fe. Because SFCC has already spent these funds for operational purposes, they are requesting assistance from the State. If the institution does not receive the funding proposed in this bill, purchase of equipment for the instructional technology building will be postponed or canceled until such time that reserves are restored.
APP/njw