Post by pavel on May 5, 2016 4:57:05 GMT -6
The House of Representatives on Wednesday approved an appropriation for the treasurer's office that would increase the maximum-authorized salary from $97,400 to $108,581 for senior investment manager Ed Garner and increase its spending authority by more than $300,000 to allow the purchase of a software program for the office's investment department.
The 85-8 vote sends House Bill 1097 to the Senate.
HB1097 would increase the spending authority in Treasurer Dennis Milligan's office from $5.035 million in the current fiscal year to $5.37 million in fiscal 2017, which starts July 1.
Milligan requested a $350,000 increase in his office's $900,000 data processing system services budget "in response to the need for technology software to continue to modernize the investment management within the office as well as to maintain the ability to produce increased rates of return for the taxpayers of Arkansas," Milligan wrote in a letter to the Joint Budget Committee. "Specifically, these funds would be used for the Bloomberg AIM [Asset in Investment Management] program."
Read more: www.arkansasonline.com/news/2016/may/05/house-oks-funding-for-treasurer-2016050/?f=news-arkansas
The 85-8 vote sends House Bill 1097 to the Senate.
HB1097 would increase the spending authority in Treasurer Dennis Milligan's office from $5.035 million in the current fiscal year to $5.37 million in fiscal 2017, which starts July 1.
Milligan requested a $350,000 increase in his office's $900,000 data processing system services budget "in response to the need for technology software to continue to modernize the investment management within the office as well as to maintain the ability to produce increased rates of return for the taxpayers of Arkansas," Milligan wrote in a letter to the Joint Budget Committee. "Specifically, these funds would be used for the Bloomberg AIM [Asset in Investment Management] program."
Read more: www.arkansasonline.com/news/2016/may/05/house-oks-funding-for-treasurer-2016050/?f=news-arkansas