FISCAL NOTE
Date Requested: February 15, 2022
Time Requested: 12:42 PM |
| Agency: |
Homeland Security & Emergency Management |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2120 |
Introduced |
HB4295 |
|
|---|
| CBD Subject: |
Insurance |
|---|
|
FUND(S):
Federal Revenue
Sources of Revenue:
Other Fund Federal Revenue
Legislation creates:
Creates New Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
With the NFIP program being moved back to Emergency Management Division it will increase both revenues and expenditures for the agency. There is a Federal CAPSSE grant that helps fund the expenditures for this program. The grant requires a 20% match which would be paid for out of General Revenue Matching Fund Appropriation.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2022
Increase/Decrease
(use"-") |
2023
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
150,000 |
150,000 |
150,000 |
| Personal Services |
80,000 |
80,000 |
80,000 |
| Current Expenses |
40,000 |
40,000 |
40,000 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
30,000 |
30,000 |
30,000 |
| 2. Estimated Total Revenues |
150,000 |
150,000 |
150,000 |
Explanation of above estimates (including long-range effect):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Costs would include salary and benefits of individual to manage the grant and program, office rent, office supplies, travel, equipment needed (such as a laptop computer), etc. When the program was previously in EMD there were advertising costs to help promote the program. Other contractual expense may occur in administering the program.
The amount of the federal grant can vary from year to year but a reasonable estimate would be between 125,000 and 150,000 each grant year. There would be sufficient funds in the General Revenue Matching Appropriation (0443 74900) to cover the 20% matching cost for this grant.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
There are funds being collected by the State Treasurer's office in the Flood Insurance Tax Fund that would be transferred to Emergency Management Division to help finance the operations and responsibilities of the NFIP but the yearly amount of those collections is not known at this time. This would require the State Treasurer's Office to transfer the funds into a special revenue account at EMD.
Person submitting Fiscal Note: Douglas McClung CFO Division of Emergency Mgt
Email Address: douglas.w.mcclung@wv.gov