Role, Scope, and Mission Statement: The Louisiana Universities Marine Consortium (LUMCON) was created in 1979 and its operating structure was modified in 1995 by the Legislature. LUMCON is under the authority of the Louisiana Board of Regents and is administered by a six member Executive Board comprised of one president/chancellor and one vice president/chancellor each from LSU, Nicholls, and USL. LUMCON is a service facility for the universities conducting marine research and education activities, and a stimulus for research and education in the marine sciences in Louisiana and on the campuses of the Louisiana universities.
This agency's recommended appropriation does not include any funds for short-term debt.
In addition to the above recommended appropriation, $498,394 will be paid in Fiscal Year 1998-1999 for long-term debt incurred on behalf of this agency from the previous sale of bonds. Total long-term debt service payments for the state for Fiscal Year 1998-1999 are reflected in the Governor's Executive Budget Supporting Document in Non-Appropriated Requirements, Schedule 22-922.
This agency's recommended appropriation also includes the following amount by means of financing for payments on the unfunded accrued liability of the Louisiana State Employees' Retirement System and the Teachers' Retirement System in accordance with the provisions of Article X, Section 29 of the Constitution of Louisiana:
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