The 2010 Executive Budget Document
Department of the Treasury [ http://www.trs.virginia.gov/ ]Mission Statement
The Department of the Treasury is dedicated to serving the Commonwealth by providing excellent financial management and outstanding customer service.Operating Budget Summary
|General Fund||Nongeneral Fund||Personnel Cost|
|2007 Appropriation||$ 9,688,512||$ 8,352,347||$ 7,782,139|
|2008 Appropriation||$ 7,851,264||$ 8,498,179||$ 7,926,297|
|2009 Appropriation||$ 6,927,822||$ 9,157,762||$ 8,674,281|
|2010 Appropriation||$ 8,619,468||$ 9,546,633||$ 8,948,447|
|2011 Base Budget||$ 8,619,468||$ 9,546,633||$ 8,948,447|
|2011 Addenda||$ (456,047)||$ 397,091||$ 95,903|
|2011 Total||$ 8,163,421||$ 9,943,724||$ 9,044,350|
|2012 Base Budget||$ 8,619,468||$ 9,546,633||$ 8,948,447|
|2012 Addenda||$ (456,047)||$ 409,972||$ 108,784|
|2012 Total||$ 8,163,421||$ 9,956,605||$ 9,057,231|
|General Fund||Nongeneral Fund||Total Positions|
|2011 Base Budget||38.50||82.50||121.00|
|2012 Base Budget||38.50||82.50||121.00|
Recommended Operating Budget Addenda
Transfer balances from the State Insurance Reserve Trust Fund to the general fundTransfers $4.35 million of the cash balances of the Commonwealth’s self-insurance funds administered by the Department of the Treasury. Of the total transfer, $1.74 million would be transferred from property insurance and $2.61 million from medical professional.
FY 2011 FY 2012 Revenue/Transfers $4,350,000 $0
Distribute Central Appropriations amounts to agency budgetsAdjusts the agency budget to reflect amounts moved to or from Central Appropriations to cover the cost of items such as changes in retirement and other benefit contribution rates, as well as the distribution of other centrally funded items.
FY 2011 FY 2012 General Fund ($146,052) ($146,052)
Remove one-time funding for relief claimsRemoves one-time funding provided by the 2009 General Assembly for relief payments.
FY 2011 FY 2012 General Fund ($259,995) ($259,995)
Increase nongeneral fund appropriationIncreases the nongeneral fund appropriation for the Division of Risk Management to cover rent costs.
FY 2011 FY 2012 Nongeneral Fund $100,129 $100,129
Increase nongeneral fund appropriations associated with August 2008 budget reductionsProvides additional nongeneral appropriation. The department's August 2008 budget reduction strategies included supplanting general fund resources with nongeneral fund resources. This adjustment is necessary to reflect the revised funding sources and to provide the agency with sufficient nongeneral fund spending authority.
FY 2011 FY 2012 Nongeneral Fund $100,731 $100,731
Fund three claims positions in the Unclaimed Property (UCP) Division to address workloadProvides funding for three positions to address increased workload in the Unclaimed Property Division.
FY 2011 FY 2012 Nongeneral Fund $146,231 $159,112
Charge 10 basis point fee for 9(C) debt financingsRecovers a portion of Treasury's debt administration costs from institutions participating in 9(C) debt financings by charging a 10 basis point fee to the amount of the debt financing similar to the current process for Virginia College Building Authority pooled debt financings. Fees will be assessed on any 9(C) bonds issued in FY 2011 and after. Fees collected will be deposited directly to the general fund.
FY 2011 FY 2012 Revenue/Transfers $75,000 $75,000
Increase Virginia State Non-Arbitrage Program administration feeIncreases the fee that Treasury charges to administer the State Non-Arbitrage Program (SNAP) from $50,000 to $100,000 per year. The fee is charged to participants in SNAP (state and local governments) and is netted out of their interest income earnings. Treasury has the authority to implement this increased fee which will become effective January 1, 2010.
FY 2011 FY 2012 General Fund ($50,000) ($50,000) Nongeneral Fund $50,000 $50,000
Reduce advertising costs for unclaimed propertyCaptures savings from a reduction in costs associated with the publication of unclaimed property owner names by increasing the threshold for printing names in newspapers. This will result in an anticipated increase of $105,000 in each year in Literary Fund revenue.