Sec. C-1. Calculation and transfer; recovery of unfunded actuarial liability. Notwithstanding any other provision of law, the State Budget Officer shall calculate the amount of expenditures in section 2 of this Part that applies against each Highway Fund account for all departments and agencies for the increased state cost allocation program requirements associated with the recovery of unfunded actuarial liability costs and shall transfer the amounts by financial order upon the approval of the Governor. These transfers are considered adjustments to allocations in fiscal year 2004-05. The State Budget Officer shall provide the joint standing committee of the Legislature having jurisdiction over transportation matters a report of the transferred amounts no later than January 15, 2005.
Sec. C-2. Allocations. The following funds are allocated from the Highway Fund.
ADMINISTRATIVE AND FINANCIAL SERVICES,
DEPARTMENT OF
Departments and Agencies - Statewide 0016
Initiative: Allocates funds for increased state cost allocation program requirements associated with the recovery of unfunded actuarial liability costs paid by the General Fund.
Highway Fund 2003-04 2004-05
All Other $0 $333,928
__________ __________
Highway Fund Total $0 $333,928
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