§ 19-5-1013 - Merit Adjustment Fund. - Arkansas Statutes

19-5-1013. Merit Adjustment Fund.

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the Merit Adjustment Fund.

(b) This fund shall be used for transfer of funds to various state agencies, funded, in whole or in part, with general revenues, which have awarded merit raises to employees based upon the performance evaluation system and in accordance with rules and regulations promulgated by the Chief Fiscal Officer of the State and which do not have sufficient funding to pay for such raises.

(c) It shall consist of those general revenues provided by law.