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Appropriators restore Department of Administration facility rates, debate Board of Investments fiduciary conversion
Summary
The committee restored higher facility-management internal service rates for the Department of Administration after a subcommittee cut; members also debated a contingent change allowing the Board of Investments to operate as a fiduciary and how that would affect rates and general fund flows.
Appropriations members returned a higher facilities management rate to the Department of Administration (DOA) and debated whether the State Board of Investments (BOI) should operate as a fiduciary fund — a structural change sponsors say would increase net returns for state revenue streams.
Rate restoration: Representative Walsh moved and the committee approved an amendment to restore the DOA facilities management rent rate to the level proposed in the executive budget. Sponsors said the blended rent rate must cover janitorial, security, building maintenance, event support, snow removal and other services the state provides for a large portfolio of state-owned and leased space. Director Misty Giles of the Department of Administration told the committee the agency’s…
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