FISCAL NOTE

Date Requested: February 23, 2021
Time Requested: 12:35 PM
Agency: Auditor, State of WV
CBD Number: Version: Bill Number: Resolution Number:
2641 Introduced HB2686
CBD Subject: Municipalities


FUND(S):

STATE FUNDS

Sources of Revenue:

Special Fund

Legislation creates:

Increases Existing Expenses



Fiscal Note Summary


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


The purpose of proposed House Bill 2686 is to establish a system to remediate fiscal emergencies of local governments.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2021
Increase/Decrease
(use"-")
2022
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 75,000 75,000
Personal Services 0 75,000 75,000
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):


After reviewing the proposed legislation, the State Auditor believes the expectations set out in the Bill would require the hiring of one additional staff member whose duties would be specifically dedicated to the various aspects of fiscal monitoring, outreach and follow-up necessary to effectuate the intent of the legislation. As a result, we believe we would incur additional personal services expenditures of $75,000 consisting of $55,000 in salary expenses and $20,000 for fringe benefit costs.



Memorandum


We believe all other aspects of the Bill, including review and any costs associated with report issuance regarding fiscal monitoring can be accomplished by existing staff members within the Chief Inspector’s Office at no additional cost to the taxpayers.



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