The director of finance shall review all estimates submitted under section 37-34 and, having due regard for:

1. (1) The probable further needs of the department or establishment for the remainder of the term for which the appropriation was made;
2. (2) The terms and purposes of the appropriation, the progress of collection of revenues, and condition of the treasury; and

3. (3) The probable receipts and total cash requirements for the ensuing quarter, shall approve, increase, or reduce the amount of the estimate;

   provided that the director of finance shall approve the estimates submitted by the University of Hawaii when:

4. (1) The sum of the estimates for each funding source does not exceed the applicable allotment ceilings established by the governor under section 37-34;
5. (2) The progress of collection of revenues, the condition of the treasury, and the probable receipts and total cash requirements for the ensuing quarter permit; and

6. (3) All other legal requirements are satisfied.

   The director shall act promptly upon all estimates and notify each department or establishment of its allotment, and shall notify the comptroller.

[L Sp 1959 1st, c 12, pt of §3; Supp, §35-23; HRS §37-35; gen ch 1985; am L 1986, c 320, §2; am L 1989, c 370, §2; am L 1994, c 281, §§4, 6; am L 1995, c 11, §21]