2017-02-13                     House Journal                      Page 0245
AIDEA must make accounting entries based on the mark-to-market                                                                  
values of its investments at the close of its fiscal year each year. Given                                                      
the vagaries of the market, these values can and likely will fluctuate                                                          
significantly from year to year. Under GASB Statement No. 68,                                                                   
AIDEA must make accounting entries for fluctuating actuarial                                                                    
computations on pension obligations. The accounting entries AIDEA                                                               
must make to comply with these GASB statements do not reflect the                                                               
actual results of AIDEA's operations, which should be the basis for its                                                         
dividend to the State. The accounting required by these GASB                                                                    
statements may cause great fluctuations from year to year in the net                                                            
income of AIDEA's funds. Removing these accounting adjustments                                                                  
from the dividend calculation would stabilize AIDEA's dividend                                                                  
payment to the State and improve predictability as to the amount of the                                                         
annual dividends.                                                                                                               
                                                                                                                                
I urge your prompt and favorable action on this measure.                                                                        
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Bill Walker                                                                                                                     
Governor"                                                                                                                       
                                                                                                                                
HB 120                                                                                                                        
HOUSE BILL NO. 120 by the House Rules Committee by request of                                                                   
the Governor, entitled:                                                                                                         
                                                                                                                                
     "An Act relating to the Department of Law public advocacy                                                                  
     function to participate in matters that come before the Federal                                                            
     Energy Regulatory Commission."                                                                                             
                                                                                                                                
was read the first time and referred to the Judiciary and Finance                                                               
Committees.                                                                                                                     
                                                                                                                                
The following fiscal note(s) apply:                                                                                             
                                                                                                                                
1.  Zero, Dept. of Law                                                                                                          
                                                                                                                                
The Governor's transmittal letter dated February 10 follows: