THE SENATE
THE TWENTY-FIRST LEGISLATURE
REGULAR SESSION OF 2002
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Senator Brian T. Taniguchi, Chair |
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Senator Colleen Hanabusa, Vice Chair |
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COMMITTEE ON FINANCE |
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Rep. Dwight Y. Takamine, Chair |
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Rep. Bertha Kawakami, Vice Chair |
NOTICE OF HEARING
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DATE: |
Wednesday, January 9, 2002 |
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TIME: |
7:00 P.M. |
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PLACE: |
Maui Community College Kalama, 103 |
In November, the Council on Revenues official forecast projected a loss of $152 million in the current fiscal year, and $163 million in fiscal year 2003—a total of $315 million during the two-year budget period. In response, the Administration has developed an updated general fund financial plan to reflect the projected drop in state revenue.
Mr. Neal Miyahira, the State Director of Finance will make a presentation on the base general fund financial plan, an overview of the general fund emergency appropriation bills, departmental supplemental budget requests, and the supplemental general fund financial plan worksheet. Some of the Administration’s proposals that the Committees would like to receive public input on are, but are not limited to:
* Across the board cuts for all state departments, including the Department of Education and the University of Hawaii, currently pegged at 1% in fiscal year 2001-2002, and 2% for fiscal year 2002-2003;
* Deferring the State’s pension contributions to the Employees’ Retirement System;
* Transferring the remaining balance of the Hawaii Hurricane Relief Fund into the state general fund; and
* Authorizing the issuance of $900 million in general obligation bonds for various capital improvement projects to stimulate the economy.
The Chairs recognize that these Administration proposals will generate a lot of discussion. However, the Chairs also emphasize that the Legislature is required to pass a balanced budget, and if these proposals are deemed unacceptable then it must find suitable alternatives to address the $315 million dollar shortfall. The purpose of this hearing is to invite the public to comment on solutions proposed by the Administration and to suggest additional ideas to address the shortfall.
NO DECISION MAKING WILL BE MADE AT THIS TIME
Persons wishing to testify should supply 30 copies of their testimony at the time of the hearing. Testimony may also be faxed if less than 5 pages in length, to the Senate Sergeant-At-Arms Office at 586-6659 or 1-800-586-6659 (toll free for neighbor islands), at least 24 hours prior to the hearing. When faxing, please indicate to whom the testimony is being submitted, the date and time of the hearing, and the required number of copies needed for submittal.
If you require special assistance or auxiliary aids or services to participate in the public hearing process (i.e., sign language interpreter, wheelchair accessibility, or parking designated for the disabled) please contact the committee clerk 24 hours prior to the hearing so arrangements can be made.
Public Folder. A folder labeled "Public Folder" containing the measures and testimonies for the hearing will be available for shared use by members of the public.
FOR FURTHER INFORMATION, PLEASE CALL THE FINANCE COMMITTEE CLERK AT 586-6200 OR THE WAYS AND MEANS COMMITTEE CLERK AT 586-6460.
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________________________________________ Representative Dwight Takamine Chair |
________________________________________ Senator Brian Taniguchi Chair |
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