FISCAL NOTE
Date Requested: February 27, 2017 Time Requested: 01:09 PM |
Agency: |
School Building Authority, WV |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2652 |
Introduced |
HB2720 |
|
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 different source of funding for its' operational costs.
Memorandum
Person submitting Fiscal Note: Frank L. Blackwell
Email Address: Frank.L.Blackwell@wv.gov