MINUTES

 

SENATE FINANCE SUBCOMMITTEE ON

GENERAL GOVERNMENT ISSUES

Wednesday, September 10, 2008

10:00 a.m.

Capitol Extension, Room E1.036

 

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Pursuant to a notice posted in accordance with Senate Rule 11.18, a public hearing of the Senate Finance Subcommittee on General Government Issues was held on Wednesday, September 10, 2008, in the Capitol Extension, Room E1.036, at Austin, Texas.

 

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MEMBERS PRESENT: Senator Kip Averitt, Chair Senator Troy Fraser		MEMBERS ABSENT: Senator Chris Harris Senator Jane Nelson
		Senator John Whitmire

 

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The chair called the meeting to order at 10:00 a.m.  The following business was transacted:

 

Senator Averitt made opening remarks concerning the interim charges before the Subcommittee.

 

The Subcommittee heard invited and public testimony regarding the Subcommittee's Interim Charge #1 to study the effectiveness of cash management strategies of the state.  Review the quarterly amount of cash on hand and its use and potential to generate excess returns.  Include an assessment of cash flow problems that exist in school districts and request that the Comptroller of Public Accounts report on the additional short-term borrowing  needed and the potential impact on bond ratings if legislation is not passed which allows for the "smoothing" of state payments to school districts.  Witnesses testifying and registering on the subject are shown on the attached list.  The chair moved that the public testimony be closed; without objection, it was so ordered. 

 

The Subcommittee heard invited testimony regarding the Subcommittee's Interim Charge #3 to compile a list of significant state assets and infrastructure, including but not limited to the state lottery and state real property, and determine if each asset is being used to the highest and best use possible in the interest of taxpayers of Texas.  Where appropriate, provide analysis of alternative uses of underperforming assets, potential cost savings or revenue gains and the legislative actions that would be needed to make the changes that are in the best interest of taxpayers. Witnesses testifying and registering on the subject are shown on the attached list.  There being no public testimony, the chair moved that the testimony be closed; without objection, it was so ordered.

 

There being no further business, at 11:20 a.m. Senator Averitt moved that the Subcommittee stand recessed until 10:00 a.m., September 11, 2008.  Without objection, it was so ordered. 

 

 

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Senator Kip Averitt, Chair

 

 

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Amy Jeter, Clerk