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Agency 126
State Investment Board
RCW 43.33A, 43.84
| Request | $10,323,059 | ||||||||||||||||||
| Net change from current biennium | $1,675,971 | Increase | |||||||||||||||||
| Percent change from current biennium | 19.4% | Increase | |||||||||||||||||
The State Investment Board has investment management responsibility
for approximately $34 billion in retirement, industrial insurance,
and permanent and other trust funds. The goal of the Board is
to diversify the assets and maximize the earnings of the funds,
at a prudent level of risk, for the exclusive benefit of the respective
beneficiaries.
The Board's objectives are to achieve a long-term rate of return
that equals or exceeds accepted market rates of return, and to
generate returns that exceed the assumed actuarial interest rate.
| Operating Budget: Summary
| |||||||||||||||||||||
| 1995-97 Appropriations | Appropriated Funds | Expenditures | |||||||||||||||||||
| Amount | Estimated Balance | 1993-95 Actual | 1995-97 Estimated | 1997-99 Proposed | |||||||||||||||||
| 8,687,538 | 40,450 | State Investment Board Expense Acct - State | 6,767,934 | 8,647,088 | 10,323,059 | ||||||||||||||||
| State Investment Board Expense Acct - Private/Local Unanticipated | 3,176 | ||||||||||||||||||||
|
8,687,538 |
40,450 | Total Appropriated Funds |
6,771,110 |
8,647,088 |
10,323,059 | ||||||||||||||||
| Operating Budget: Summary by Object
| ||||||||||||||||||
| 1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
| Salaries And Wages | 1,789,122 | 1,976,983 | 2,235,098 | 2,452,488 | 2,490,963 | |||||||||||||
| Employee Benefits | 427,187 | 454,948 | 525,345 | 554,775 | 560,340 | |||||||||||||
| Personal Service Contracts | 169,255 | 163,582 | 740,000 | 709,210 | 668,410 | |||||||||||||
| Goods And Services | 755,647 | 952,859 | 1,178,000 | 1,267,458 | 1,218,935 | |||||||||||||
| Travel | 71,021 | 100,195 | 115,539 | 117,465 | 117,491 | |||||||||||||
| Capital Outlays | 263,825 | 31,339 | 190,685 | 33,006 | 132,518 | |||||||||||||
| Grants, Benefits & Client Services | 606 | |||||||||||||||||
| Debt Service | 132,090 | 191 | ||||||||||||||||
| Interagency Reimbursements | (170) | (12,155) | (5,521) | |||||||||||||||
| Annual Total |
3,608,583 |
3,667,942 |
4,979,146 |
5,134,402 |
5,188,657 | |||||||||||||
| Fiscal Year 1993-94 | 3,162,527 | |||||||||||||||||
| Biennium Total |
6,771,110 |
8,647,088 |
10,323,059 | |||||||||||||||
| Operating Budget: Change from Preceding Biennium
| ||||||||||||||||||||||||||
| 1993-95 Actual | 1995-97 Estimated | 1997-99 Proposed | ||||||||||||||||||||||||
| Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||||||||||||
| Administration | 1,427,543 | 26.7% | 1,875,978 | 27.7% | 1,675,971 | 19.4% | ||||||||||||||||||||
| Belated_Claims | (3,335) | (100.0)% | ||||||||||||||||||||||||
| Total |
1,424,208 |
26.6% |
1,875,978 |
27.7% |
1,675,971 |
19.4% | ||||||||||||||||||||
| Employment Summary
| ||||||||||||||||||||
| 1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||||
| FTE Staff Years | 39.4 | 41.5 | 44.3 | 48.3 | 48.3 | |||||||||||||||
| Average FTE Staff Year Costs | 45,409 | 47,638 | 50,454 | 50,776 | 51,573 | |||||||||||||||