Report Title:

UH Foundation; Reports

Description:

Specifies elements required of the University of Hawaii Foundation's annual report to the legislature. (HB2547 CD1)

HOUSE OF REPRESENTATIVES

H.B. NO.

2547

TWENTY-SECOND LEGISLATURE, 2004

H.D. 2

STATE OF HAWAII

S.D. 2


C.D. 1

A BILL FOR AN ACT

 

RELATING TO THE UNIVERSITY OF HAWAII.

 

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

SECTION 1. Section 304-16.5, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:

"(c) Any law to the contrary notwithstanding, the board of regents may authorize expenditures of up to $3,000,000 annually, excluding in-kind services, from this fund for the [purpose] purposes of promoting alumni relations and generating private donations for deposit into the University of Hawaii Foundation for the purposes of the university. Any expenditure authorized pursuant to this subsection shall be for a public purpose and shall not be subject to chapters 42F, 103, 103D, and 103F. The university shall submit a comprehensive report to the legislature [every regular session] detailing the use of any funds authorized by the board under this subsection[.] no later than twenty days prior to the convening of each regular session.

The report shall:

(1) Identify each department of the University of Hawaii Foundation supported by moneys from the fund;

(2) Describe the purposes and activities of each department identified in paragraph (1) and how it participates in fundraising activities and benefits the university;

(3) Provide the total expenditures of each department identified in paragraph (1) by primary expense categories;

(4) Identify all moneys from the fund transferred to any fund of the university and provide a justification of how these moneys are used to benefit the university;

(5) Provide a financial summary of the operating activities of the University of Hawaii Foundation, including revenues and expenditures by major reporting categories; and

(6) Identify amounts and purposes of all expenditures from the UH support fund."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2004.