Florida Senate - 2024                                    SB 1128
       
       
        
       By Senator Martin
       
       
       
       
       
       33-01412-24                                           20241128__
    1                        A bill to be entitled                      
    2         An act relating to university carry forward balances;
    3         amending s. 1011.45, F.S.; providing that a university
    4         carry forward spending plan may include retention of a
    5         carry forward balance as a reserve fund that a
    6         university may expend at its discretion; providing an
    7         effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Subsection (3) of section 1011.45, Florida
   12  Statutes, is amended to read:
   13         1011.45 End of year balance of funds.—Unexpended amounts in
   14  any fund in a university current year operating budget shall be
   15  carried forward and included as the balance forward for that
   16  fund in the approved operating budget for the following year.
   17         (3) A university’s carry forward spending plan must include
   18  the estimated cost per planned expenditure and a timeline for
   19  completion of the expenditure. A carry forward spending plan may
   20  include retention of the carry forward balance as a reserve fund
   21  that the university may expend at its discretion. Authorized
   22  expenditures in A carry forward spending plan may also include
   23  all of the following authorized expenditures:
   24         (a) Commitment of funds to a public education capital
   25  outlay project for which an appropriation has previously been
   26  provided that requires additional funds for completion and which
   27  is included in the list required by s. 1001.706(12)(d).;
   28         (b) Completion of a renovation, repair, or maintenance
   29  project that is consistent with s. 1013.64(1) or replacement of
   30  a minor facility.;
   31         (c) Completion of a remodeling or infrastructure project,
   32  including a project for a developmental research school, if such
   33  project is survey recommended pursuant to s. 1013.31.;
   34         (d) Completion of a repair or replacement project necessary
   35  due to damage caused by a natural disaster for buildings
   36  included in the inventory required pursuant to s. 1013.31.;
   37         (e) Operating expenditures that support the university’s
   38  mission.;
   39         (f) Any purpose specified by the board or in the General
   40  Appropriations Act, including the requirements in s.
   41  1001.706(12)(c) or similar requirements pursuant to Board of
   42  Governors regulations.; and
   43         (g) A commitment of funds to a contingency reserve for
   44  expenses incurred as a result of a state of emergency declared
   45  by the Governor pursuant to s. 252.36.
   46         Section 2. This act shall take effect July 1, 2024.