FISCAL NOTE

Date Requested: January 29, 2020
Time Requested: 03:29 PM
Agency: Auditor, State of WV
CBD Number: Version: Bill Number: Resolution Number:
2572 Introduced HB4531
CBD Subject: Counties


FUND(S):

Local Funds

Sources of Revenue:

Other Fund Local Government

Legislation creates:





Fiscal Note Summary


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


    The purpose of proposed House Bill 4531 is to create the County Budget Flexibility Act. The bill permits a county to hold over unspent budgetary funds or excess revenue for future uses. The bill requires those funds be deposited in a county’s Future Needs Fund. The bill authorizes the use of those funds for future or unexpected needs. And, the bill makes findings and sets forth the proposed legislation’s intent.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2020
Increase/Decrease
(use"-")
2021
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):


    We were unable to identify any specific newly-created costs associated with adoption of the proposed legislation. And, we were also unable to identify any new, additional revenues which would be created by the adoption of the proposed Bill. Therefore, we assess the proposed Bill as revenue-neutral. However, the provisions within the Bill would give county officials new budgetary funding options designed to deal with local needs.



Memorandum


    We have no additional comments concerning the proposed Bill.



    Person submitting Fiscal Note: Michael E. Sizemore, CPA
    Email Address: Mike.Sizemore@wvsao.gov