ROTC endowment program.25LSO-0080, 1.0
SF0028
FISCAL NOTE
This bill creates the UNIVERSITY OF WYOMING RESERVE OFFICERS’ TRAINING CORPS
ENDOWMENT FUND (Endowment Fund) and the UNIVERSITY OF WYOMING RESERVE OFFICERS’
TRAINING CORPS INCOME ACCOUNT (Income Account).
The Endowment Fund consists of funds appropriated to the fund by law or by gift
from whatever source. In accordance with Article 15, Section 20 of the Wyoming
Constitution, monies within the Endowment Fund shall not be expended and may be
invested in the same manner as other permanent funds of the state.
This bill directs the State Treasurer to distribute investment earnings from the
Endowment Fund yearly as soon as possible after July 1 to the Income Account.
Accrued interest and other earnings on unexpended funds within the Income Account
shall be credited to the account.
The University of Wyoming’s reserve officers' training corps programs may expend
an amount not to exceed 100% of the prior fiscal year's investment earnings
distributed to the Income Account. Any unexpended, unobligated funds remaining in
the Income Account on June 30 of each fiscal year shall be credited to the Endowment
Fund not later than ninety (90) days after the end of the fiscal year.
The State Treasurer’s Office projects yields in FY 2026 through FY 2028 to be 2.98%,
3.07%, and 3.02%, respectively for permanent funds and 4.28%, 4.12%, and 4.02%,
respectively for State Agency Pool funds. Yield is defined as the interest and
dividend income from the investment. Over the long term, total returns for permanent
funds are expected to be 6.75%, while total returns for State Agency Pool funds are
expected to be 4.05%. This is in accordance with the State’s Investment Policy.
Total return is defined as growth in the value of the investment, including both
yield and realized & unrealized gains.
Prepared by: Matthew Willmarth, LSO Phone: 777-7881
(Information provided by Samantha Dailey, State Treasurer's Office, 777-7408; Alex
Kean, University of Wyoming, 766-9028)