Legislature(1993 - 1994)
05/02/1994 05:05 PM Senate HES
| Audio | Topic |
|---|
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
SENATE HEALTH, EDUCATION AND SOCIAL SERVICES COMMITTEE
May 2, 1994
5:05 p.m.
MEMBERS PRESENT
Senator Steve Rieger, Chairman
Senator Loren Leman
Senator Mike Miller
Senator Johnny Ellis
Senator Judy Salo
MEMBERS ABSENT
Senator Bert Sharp, Vice-Chairman
Senator Jim Duncan
COMMITTEE CALENDAR
CS FOR HOUSE BILL NO. 412(HES) am
"An Act relating to facilities for the care of children; to child
placement agencies; to maternity homes; to certain residential
facilities for adults; and to foster homes for adults; and
providing for an effective date."
HOUSE BILL NO. 234
"An Act relating to endowments and donations of the University of
Alaska and the University of Alaska endowment trust fund; and
providing for an effective date."
PREVIOUS SENATE COMMITTEE ACTION
HB 412 - No previous action to record.
HB 234 - No previous action to record.
WITNESS REGISTER
Allison Elgee, Budget Director
University of Alaska
910 Yukon Drive
Fairbanks, AK 99725-2388
POSITION STATEMENT: Offered information on HB 234
ACTION NARRATIVE
TAPE 94-36, SIDE A
Number 001
CHAIRMAN RIEGER called the Senate Health, Education and Social
Services (HESS) Committee to order at 5:05 p.m. He brought CSHB
412(HES) am (COMMUNITY CARE FACILITIES) before the committee as the e
first order of business. He explained the legislation is almost
identical to SB 268 which was previously heard by the committee.
The committee adopted a committee substitute which had language
that exempts small private foster homes where there was placement
of children for up to 45 days. The House version allows private
placement of children without a time limitation.
There being no questions on CSHB 412(HES) am, CHAIRMAN RIEGER asked
for the pleasure of the committee.
SENATOR MILLER moved that CSHB 412(HES) am be passed out of
committee with individual recommendations. Hearing no objection,
it was so ordered.
Number 032
CHAIRMAN RIEGER brought HB 234 (UNIVERSITY OF AK ENDOWMENT TRUST
FUND) before the committee as the final order of business. He
explained the legislation will transfer the management of the
University of Alaska Endowment Trust Fund from the Commissioner of
Revenue to the fiduciary responsibility of the President of the
University of Alaska.
Number 043
SENATOR LEMAN asked what the University of Alaska is going to do
that is different from the Department of Revenue.
ALLISON ELGEE, Budget Director, University of Alaska, referred to
information contained in the members' packets detailing the
investment returns by the Department of Revenue and annotated a
comparison of the investment returns that the University of Alaska
has received during the same time period for the foundation
account. Both performances have been rated by outside firms: the
Department of Revenue ranks in the bottom one percent nationwide
for this type of an account, whereas the University's five-year
period performance ranks in the top three percent.
Ms. Elgee said the major difference in investment philosophy is
that the Department of Revenue maintains the majority of these
investments in fixed income accounts. The University uses a more
flexible and active management style with their foundation account.
Number 081
CHAIRMAN RIEGER said he has had concerns that the Department of
Revenue has been too unbalanced out of equities, in particular,
real estate equities. He agreed that the University will probably
do better with the investments.
Number 090
SENATOR ELLIS moved that HB 234 pass out of committee with
individual recommendations. Hearing no objection, it was so
ordered.
There being no further business to come before the committee, the
meeting was adjourned at 5:15 p.m.
| Document Name | Date/Time | Subjects |
|---|