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1
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THE CHAIRMAN: Well, the Governor couldn't
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2
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even change it. That's the point.
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3
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MR. RENNIE: No.
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4
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MR, SACHS: You mentioned before the history of
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5
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the Board of Education, you called them one of the largest
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6
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reverters. I gather from that that they did not use all
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7
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the funds?
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8
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MR. RENNIE: That's right.
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9
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MR. SACHS: Would you enlighten me, and I
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10
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confess ignorance on this, as to what happens to those
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11
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funds? Do they go into the general fund?
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12
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MS. RENNIE: They go back into the State Treasury
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13
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They cannot be used for any other purpose, only by budget
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14
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amendment, and the Governor must approve that budget amend-
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15
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ment.
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16
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MR. SACHS: If he does, can it be applied, having
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17
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been reverted, to anything other than education?
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18
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MR. RENNIE: Once it is gone, that's it, until
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19
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the end of the year. Under the law, any budget refund must
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20
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go into the current fiscal year. It cannot be carried over
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21
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to the next year. Only if there is a bona fide obligation
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