STATE BOARD OF EXAMINERS
MINUTES – Regular Meeting
Tuesday, March 8, 2005 – 8:55 a.m.
Borah Post Office Building, 2nd Floor Courtroom, 204 N. 8th Street
The regular meeting of the State Board of Examiners was called to order at 204 N. 8th Street, Boise, Idaho, at 8:55 a.m. pursuant to Idaho Code §67-2002 and by order of the chair.
The following board members were present, constituting all the members: Governor Dirk Kempthorne, chairman of the board; Attorney General Lawrence Wasden; and Secretary of State Ben Ysursa.
State Controller Keith Johnson, secretary to the board, recorded the proceedings of the meeting.
Mr. Johnson introduced the items on the consent agenda. Mr. Wasden moved to approve the consent agenda as recommended in its entirety; Mr. Ysursa seconded the motion. The motion carried by unanimous voice vote.
1. Minutes – Approved
Approval of official minutes for the meeting of the Board of Examiners on February 8, 2005.
2. State Treasurer’s Office – Approved
Request for approval of the State Treasurer’s annual investment fee to be charged to state agencies pursuant to Idaho Code 67-1210 and 67-3524.
3. Department of Administration – Approved
a. Request for recognition of assignment pursuant to Idaho Code §67-1027 from Herman W. Schumacker to Richard Schumacker.
b. Request for recognition of assignment pursuant to Idaho Code §67-1027 from Sundance Business Center, c/o Complete Property Management to SVN Management.
4. State Controller’s Office – Approved
Request for approval of suggested wording for the Travel Policy to the Board of Examiners submitted by the Fiscal Policy Advisory Committee (FPAC).
#4. EXPENSES NOT ALLOWED
The following will NOT be paid by the State:
A. Expenses of a personal nature incurred for the convenience of the traveler including travel by indirect routes or stop-overs for personal reasons; or leaving early or returning later than necessary on a trip. It is acceptable for the traveler to leave their home station in reasonably sufficient time to arrive at an airport’s recommended pre-departure time.
#11. MEALS NOT ALLOWABLE
4. Reimbursement will not be made to an employee for meal expenses when the
employee left their home station earlier than reasonably necessary to meet an
airport’s recommended pre-departure time.
5. Department of Health and Welfare – Approved
Request for approval to transfer $31,349,800 from the General Fund to the Cooperative Welfare Fund #0220.
6. Bureau of Hazardous Materials, Division of Military, Executive Office Of Governor – Approved
Request for authorization to issue deficiency warrants for reimbursement of response costs incurred during February pursuant to Idaho Code §39-7110.
Date to Board
Drug Lab Chemicals & Pipe Bombs
Gooding County EMS charges
Overturned truck, in dispute
Lab in 5th wheel trailer
Lab in dumpster
Mr. Johnson introduced the item on the regular agenda.
7. State Treasurer’s Office – Approved
Request for approval to issue the Fiscal Year 2006 Tax Anticipation Notes.
Audience: Liza Carberry and Mike Moore presented FY 06 Tax Anticipation Notes. Mr. Moore explained that every year they start off the tax note process by coming before the board and asking for authorization to borrowed up to ¾ estimated revenues for the year. Mr. Moore said the treasurer’s office attained estimates from the department of insurance and the state tax commission and the revenues for the 2006 fiscal year were estimated to be $2,057,010,000.00, ¾ of which would be $1,542,757,500.00. Mr. Moore said the actual amount would be dependent on the estimated deficit that will arise within the first six months. Mr. Moore said for federal tax exemption reasons they always want to make sure they don’t borrow more than this because the number is unknown until the legislature finishes its work in April.
Discussion: Mr. Ysursa asked Mr. Moore what ratings of theirs went up, long term, short term, or medium term? Mrs. Carberry responded that they don’t issue long term debt, but Moodys assigned them a shadow rating, which would be the rating they would get if they did issue long term deb. That rating was at a AA3 and upgraded to a AA2, the impact of that was also felt on Idaho bond paint, which had an issue in December, which was upgraded also. Because it is based on rating of state, in addition, the rating of Idaho building authority also went up.
Resolution: Mr. Ysursa moved to approve the regular agenda as recommended in its entirety; Mr. Wasden seconded the motion. The motion carried by unanimous voice vote.
8. Attorney General
Notification that Charles Barnhill, Jr. of the firm of Miner, Barnhill & Galland in Madison, Wisconsin and Robert S. Libman of the firm of Miner, Barnhill & Galland in Chicago, Illinois have been appointed pursuant to Idaho Code §67-1409 as special deputy attorney generals for the purpose of representing the State of Idaho in the case of opposition to class certification in the multi-district litigation under In Re: Pharmaceutical Industry Average Wholesale Price Litigation, MDL No. 1456; C.A. No. 01-12257-PBS.
9. State Controller’s Office
a. Notification of closure of rotary fund 0857 for the Idaho State Police effective February 4, 2005.
10. State Insurance Fund
a. Estimate of the State Insurance Fund expenses to be paid by sight drafts for the month of February 2005.
Estimated expenditure for workers compensation claim costs, dividends and premium refunds
Funds Expended in January 2005
Workers Compensation Claim Costs
b. Estimate of the Petroleum Clean Water Trust Fund expenses to be paid by sight draft for the month of February 2005.
Estimated expenditure for Petroleum Clean Water Trust Fund
Funds Expended in January 2005:
There being no further business before the board and on motion duly made and seconded, THE MEETING OF THE STATE BOARD OF EXAMINERS WAS ADJOURNED at 9:02 a.m.
__________/s/ Dirk Kempthorne________
Dirk Kempthorne, Chairman of the Board and
Governor of the State of Idaho
__________/s/ Keith Johnson____________
Keith Johnson, Secretary of the Board and
Idaho State Controller
Minutes of State Board of Examiners or the Subcommittee Meetings
The secretary to the board prepares preliminary minutes as a courtesy for the reader. Preliminary minutes have not been approved by the State Board of Examiners or its subcommittee and do not constitute the official minutes of the meeting. The minutes become official after approval at a subsequent meeting. Should you have any questions regarding these minutes, please contact email@example.com or call the Idaho State Controller’s Office at 334-3100.