Washington Code 43.33A.160 – Funding of board — State investment board expense account
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(1) The state investment board shall be funded from the earnings of the funds managed by the state investment board, proportional to the value of the assets of each fund, subject to legislative appropriation.
Terms Used In Washington Code 43.33A.160
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(2) There is established in the state treasury a state investment board expense account from which shall be paid the operating expenses of the state investment board. Prior to November 1 of each even-numbered year, the state investment board shall determine and certify to the state treasurer and the office of financial management the value of the various funds managed by the investment board in order to determine the proportional liability of the funds for the operating expenses of the state investment board. Pursuant to appropriation, the state treasurer is authorized to transfer such moneys from the various funds managed by the investment board to the state investment board expense account as are necessary to pay the operating expenses of the investment board.
[ 1991 sp.s. c 13 § 32; 1985 c 57 § 32; 1982 c 10 § 10. Prior: 1981 c 242 § 1; 1981 c 219 § 5; 1981 c 3 § 16.]
NOTES:
Effective dates—Severability—1991 sp.s. c 13: See notes following RCW 18.08.240.
Effective date—1985 c 57: See note following RCW 18.04.105.
Severability—1982 c 10: See note following RCW 6.13.080.
Effective dates—1981 c 242: See note following RCW 43.79.330.
Effective dates—1981 c 219: See note following RCW 43.33A.020.
Effective dates—Severability—1981 c 3: See notes following RCW 43.33A.010.