SENATE BILL REPORT

SB 6562

BYSenators Bailey, Gaspard, Warnke, Patterson, Deccio, Barr and Garrett

Changing the custodian of the revolving fund for the agricultural research facility at the Rainier school farm at Washington State University.

Senate Committee on Agriculture

Senate Hearing Date(s):February 2, 1988

Majority Report:  Do pass.

      Signed by Senators Barr, Chairman; Anderson, Vice Chairman; Bailey, Halsan, Hansen, Rinehart.

Senate Staff:John Stuhlmiller (786-7446)

                  February 17, 1988

AS PASSED SENATE, FEBRUARY 16, 1988

BACKGROUND:

The revolving fund for the agricultural research facility at the Rainier school farm at Washington State University (the Buckley Dairy), was inadvertently assigned the State Treasurer to be custodian.  This is the only WSU fund which falls under the State Treasurer.

All accounts with the State Treasurer as custodian must show a positive cash flow on a monthly basis.  For the Buckley dairy, it is impossible to show such figures due to the purchasing of feed and other supplies in large volumes to gain the best price.  On an annual accounting basis the dairy shows a profit, and since WSU accounts are not subject to monthly cash flow constraints, the university would like to become custodian of the fund.

SUMMARY:

The State Treasurer is replaced by the president of Washington State University or the president's designee, as the custodian of the revolving fund for the agricultural research facility at the Rainier school farm at Washington State University.

Appropriation:    none

Revenue:    none

Fiscal Note:      requested January 27, 1988

Senate Committee - Testified: A.D. Davison, WSU (pro); Dan Coyne, Washington State Dairymen's Fed. (pro)