FISCAL NOTE

Date Requested: February 20, 2017
Time Requested: 01:09 PM
Agency: School Building Authority, WV
CBD Number: Version: Bill Number: Resolution Number:
2651 Introduced SB356
CBD Subject: Governor -- Bills Requested By


FUND(S):

3951 and 3959

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    The School Building Authority of WV maintains a Debt Service Reserve Fund on the Series 2007 Bonds that will be liquidated when the Bonds mature. The School Building Authority receives its' Administrative funds from earnings from these Debt Service reserve funds. This legislation will allow the School Building Authority to receive its' Operational Funds from the annual School Construction Fund allocation.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2017
Increase/Decrease
(use"-")
2018
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):


    This legislation does not increase or decrease the funds needed for the administrative costs of the School Building Authority. When the Debt Service Reserve Funds are liquidated, the School Building Authority will be required to find a to find a different source of funding for its' operational costs.



Memorandum


    



    Person submitting Fiscal Note: Frank L. Blackwell
    Email Address: Frank.l.blackwell@wv.gov