STATE BOARD OF EXAMINERS
MINUTES – Regular Meeting
April 16, 2013 – 8:55 a.m.
Capitol Auditorium (WW02), Lower Level, West Wing, 700 W Jefferson St.
The regular meeting of the State Board of Examiners was called to order pursuant to Idaho Code §67-2002 and by the order of the chair.
The following board members were present: Governor C.L. “Butch” Otter, Secretary of State, Ben Ysursa and Attorney General Lawrence Wasden by telephone. Controller Brandon Woolf, Secretary to the State Board of Examiners recorded the proceedings of the meeting.
Mr. Woolf introduced the consent agenda items.
Mr. Ysursa moved to approve the consent agenda. Mr. Wasden seconded the motion. The motion passed on unanimous voice vote.
1. Minutes - Approved
Approval of official minutes for the meeting of the Board of Examiners on March 21, 2013.
2. Department of Administration – Approved
Request for recognition of assignment pursuant to Idaho Code §67-1027 from MK Plaza Trust to SCCP Boise Limited Partnership. (Lessees: Tax Commission, Department of Finance, and Department of Fish and Game)
3. Bureau of Homeland Security – Approved
Date to Board
Response to a fuel spill at a commercial fuel tank farm (ADA COUNTY)
4. Military Division – Approved
Ratification of military contract:
NGBID-13-C-0004 for State of Idaho Military Division project: Building 950 Communication room repair.
5. Military Division – Approved
Request a one year continuance of approval for cash compensation of overtime to all state professionals and administrative personnel deployed to assist on state or federally declared disasters according to Idaho Code §67-5328(3)(c).
6. Health and Welfare – Approved
a. Request that $132,678,200 be transferred from the General Fund to the Cooperative Welfare Fund #0220 during the fourth quarter of Fiscal Year 2013.
b. Request that $64,450 be transferred from the Drug Court, Mental Health & Family Court Services Fund #0340 to the Cooperative Welfare Fund #0220 during the fourth quarter of Fiscal Year 2013.
c. Request that $37,632,000 be reverted to the General Fund as follows:
FY13 Appropriation – House Bill Number 682
Medicaid – Enhanced Plan $37,632,200
7. Department of Commerce – Item withdrawn by agency
8. Office of the State Treasurer - Approved
Request an extension on the allowed accrued leave for Department of Commerce employee Jennifer Verdon from March 15, 2013 to May 10, 2013.
Request advanced approval pursuant to Idaho Code §63-321 to issue the Fiscal Year 2014 Tax Anticipation Notes in an amount not to exceed $1,991,250,000.
Discussion: Treasurer Crane explained that they are asking for the authority to borrow up to $1.9 billion. Idaho Code says that the Treasurer can borrow up to 75% of the anticipated general fund revenues. The purpose of issuance of the tax anticipation notes (TAN) is for cash flow purposes. Idaho school districts receive 6 payments throughout the fiscal year, and by November 15 they have been issued 4 of those 6 payments. This creates a deficit of around $750 million, which is why we issue the TAN. We do have federal guidelines that govern how much we can use; called the IRS 90% rule which requires that we issue no more than 90% of what our deficit is on November 15. The TANs have been sold in the open market since 1983. Idaho always has the highest rating and a track record of excellent fiscal affairs.
Mr. Ysursa complimented the sound fiscal policies of Idaho and Treasurer Crane.
Resolution: Mr. Ysursa moved to approve item 8. Mr. Wasden seconded the motion. The motion carried on a unanimous voice vote.
9. Department of Fish and Game
Update on Fish and Game Conservation Officer David Silcock’s efforts to sell his property.
10. Office of the Attorney General
a. Notification that John P. Coyle of the firm of Duncan & Allen in Washington, D.C., has been appointed pursuant to Idaho Code §67-1409 as Special Deputy Attorney General for the purpose of representing the State of Idaho, Public Utilities Commission, in a proceeding before the Federal Energy Regulatory Commission.
b. Notification that John P. Coyle of the firm of Duncan & Allen in Washington, D.C., has been appointed pursuant to Idaho Code §67-1409 as Special Deputy Attorney General for the purpose of representing the State of Idaho, Public Utilities Commission, in the case of Federal Energy Regulatory Commission v. Idaho Public Utilities Commission before the United States District Court for the District of Idaho.
11. State Insurance Fund
a. Estimate of the State Insurance Fund expenses to be paid by sight drafts for the month of
b. Estimate of the Petroleum Clean Water Trust Fund expenses to be paid by sight drafts for the month of February, 2013.
Estimated expenditure for workers compensation claim costs, dividends and premium refunds
Funds Expended in February, 2013:
Workers Compensation Claim Costs
Estimated expenditure for Petroleum Clean Water Trust Fund
Funds Expended in February, 2013:
Mr. Ysursa moved to adjourn the meeting. Mr. Wasden seconded the motion.
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 9:09 a.m.
__________/s/ C.L. “Butch” Otter__________________/s/ Brandon D Woolf ____________
C.L. “Butch” Otter, Chairman of the Board and
Governor of the State of Idaho
Brandon D Woolf, Secretary of the Board and
Idaho State Controller