Nevada_Executive_Budget_2013-2015

TREASURER - NEVADA COLLEGE SAVINGS TRUST
101-1092
PROGRAM DESCRIPTION
The Nevada College Savings Program, administered by the State Treasurer, is the state-sponsored 529 Plan. It provides tax-free methods, via a variety of program options, to save for future
higher education expenses.
NRS 353B.340 Creation; sources; limitations on use of money. 1. The Nevada College Savings Trust Fund is hereby created.
NRS 353B.310 Regulations. 1. The State Treasurer shall adopt regulations to establish and carry out the Nevada College Savings Program, which must comply with the requirements of a
qualified state tuition program pursuant to 26 U.S.C. § 529. 2. The regulations must be consistent with the provisions of the Internal Revenue Code set forth in Title 26 of the United States
Code, and the regulations adopted pursuant thereto, to ensure that the Nevada College Savings Program meets all criteria for federal tax-deferred or tax-exempt benefits, or both. 3. The
regulations must provide for the use of savings trust agreements and savings trust accounts to apply distributions toward qualified higher education expenses at eligible educational
institutions in accordance with 26 U.S.C. § 529. 4. The regulations may include any other provisions not inconsistent with federal law that the State Treasurer determines are necessary for
the efficient and effective administration of the Nevada College Savings Program and the Trust Fund.
BASE
This request continues funding for two positions and associated operating costs. One-time expenditures have been eliminated and partial year costs have been annualized.
2012-2013 2013-2014 2013-2014 2014-2015 2014-2015
2011-2012 WORK AGENCY GOVERNOR AGENCY GOVERNOR
ACTUAL PROGRAM REQUEST RECOMMENDS REQUEST RECOMMENDS
RESOURCES:
COST ALLOCATION REIMBURSEMENT - D 68,352 83,754 0 0 0 0
GIFTS AND DONATIONS 5,290 0 2,645 2,645 2,645 2,645
NON CASH REVENUE 312,953 744,415 399,998 399,998 399,998 399,998
TREASURER'S INTEREST DISTRIB 0 2,367 1,500 1,500 1,500 1,500
REIMBURSEMENT OF EXPENSES 0 4,574 0 0 0 0
TRANSFER FROM TREASURER 964,545 1,106,984 1,273,807 1,286,287 1,279,719 1,292,199
TOTAL RESOURCES: 1,351,140 1,942,094 1,677,950 1,690,430 1,683,862 1,696,342
EXPENDITURES:
PERSONNEL SERVICES 140,176 193,444 218,866 218,866 222,274 222,274
OUT-OF-STATE TRAVEL 7,100 6,830 7,366 7,366 7,366 7,366
IN-STATE TRAVEL 8,874 9,887 9,875 9,875 9,875 9,875
OPERATING 670,587 724,728 731,137 743,617 731,337 743,817
TECHNOLOGY COST ALLOCATION 15,889 18,722 3,520 3,520 3,055 3,055
INTRA-AGENCY COST ALLOCATION 188,043 235,058 299,626 299,626 302,395 302,395
UPROMISE MARKETING 212,953 607,333 249,999 249,999 249,999 249,999
UPROMISE MATCHING GRANT 0 37,082 50,000 50,000 50,000 50,000
UPROMISE FIELD REPRESENTATIVE 100,000 100,000 100,000 100,000 100,000 100,000
INFORMATION SERVICES 469 506 512 512 512 512
PURCHASING ASSESSMENT 83 83 83 83 83 83
STATEWIDE COST ALLOCATION PLAN 4,713 4,713 4,713 4,713 4,713 4,713
ATTORNEY GENERAL COST ALLOCATION 2,253 3,708 2,253 2,253 2,253 2,253
TREASURER'S OFFICE ELECTED - 196
TREASURER - COLLEGE SAVINGS TRUST