REPORT TITLE:
Public Employees Health Fund

DESCRIPTION:
Removes the responsibility for funding the annual audit of the
fund from the state comptroller and makes it the responsibility
of the health fund. (SD1)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        1102
THE SENATE                              S.B. NO.           S.D. 1
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
________________________________________________________________
________________________________________________________________


                   A  BILL  FOR  AN  ACT

RELATING TO THE PUBLIC EMPLOYEES HEALTH FUND.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The purpose of this Act is to remove the
 
 2 responsibility for funding the annual audit of the fund from the
 
 3 state comptroller and make it the responsibility of the fund.
 
 4      SECTION 2.  Section 87-29, Hawaii Revised Statutes, is
 
 5 amended to read as follows:
 
 6      "87-29  Other duties.  The board of trustees shall:
 
 7      (1)  Authorize the director of finance to make periodic
 
 8           charges and payments from the fund only upon vouchers
 
 9           countersigned by the chairperson and such other person
 
10           as may be designated by the board of trustees;
 
11      (2)  Maintain accurate records and accounts of all financial
 
12           transactions of the fund which shall be audited
 
13           annually and summarized in an annual report by the
 
14           state comptroller[;].  The audit costs shall be the
 
15           responsibility of the fund and paid from the fund's
 
16           reserves;
 
17      (3)  Maintain suitable and adequate records to carry out the
 
18           purpose of the fund; and
 
19      (4)  Procure a fidelity bond of a reasonable amount for the
 

 
Page 2                                                     1102
                                     S.B. NO.           S.D. 1
                                                        
                                                        

 
 1           chairperson and any other person authorized to handle
 
 2           money of the fund."
 
 3      SECTION 3.  Statutory material to be repealed is bracketed.
 
 4 New statutory material is underscored.
 
 5      SECTION 4.  This Act shall take effect upon its approval.