Legislative Report 20 -- 2007 Report to the General Assembly
State of Vermont
Reports to the 2007 General Assembly
Legislative Report 20
Title: Resource Management Revolving Fund
Resource Management Revolving Fund
In accordance with the provisions of Title 29, VSA, Chapter 5, Section 168(b)(7) this report is submitted annually to the General Assembly. The report lists projects, which have been approved for funding during the prior fiscal year and their amortization schedules. The report also states the spending cap approved for the current fiscal year, the accumulated spending cap and the condition of the fund.
The Department of Buildings and General Services recommended a FY-2005 spending cap of $500,000 to the treasurer on November 17, 2004. After consultation with the Treasurer, concurrence was received on December 26, 2004. However, no projects were approved during FY-2005. Since no projects had been funded, BGS did not seek to increase the spending cap for FY-2006 and it remains at $500,000.
It is reported that since inception, only three projects have been authorized utilizing Resource Management Revolving Fund monies:
The Department of Fish and Wildlife has been authorized to spend up to $7,000 for a variable speed motor at the Ed Weed Fish Culture Station in Grand Isle. Anticipated payback of investment from savings in electrical consumption is two years.
The Agency of Transportation has been authorized to spend up to $100,000 for replacement of light fixtures statewide. Anticipated payback is eight years.
The Department of Fish and Wildlife has been authorized to spend up to $57,000 to replace a steam boiler with a hot water boiler at Bald Hill fish hatchery. Anticipated payback is ten years.