FISCAL NOTE
Date Requested: February 24, 2017 Time Requested: 09:38 AM |
Agency: |
Treasurer's Office, WV |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2025 |
Introduced |
HB2489 |
|
CBD Subject: |
Finance and Administration |
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|
FUND(S):
General
Sources of Revenue:
General Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of House Bill 2489 is to require the Treasurer to transfer fifty percent of the unencumbered balance of each reappropriated revenue account in the State Treasury to the General Fund, under certain circumstances.
The State Treasurer’s Office believes it can make any transfers required pursuant to House Bill 2489 within its current operational expense funding without further cost to the State if the Budget Office was responsible for determining from which accounts the transfers should be made and the amount of the transfers. The Budget Office has access to data in ways not available to the Treasurer’s Office that would make the determination of which accounts and the amounts to be transferred much easier. In addition, the Budget Office has more information available to it that would facilitate the determinations required. Without that access or information, the Treasurer’s Office is unable to determine how much revenue would be generated to transfer to the General Fund.
In reviewing the language of the bill, the Treasurer’s Office has questions as to whether the language “reappropriated revenue account” refers only to general fund accounts, what should be done with accounts for which ongoing expenses have not been encumbered (e.g., personal services and benefits, based upon the language in subdivision (a)(2)), and if other types of accounts should be excluded (e.g., trust accounts).
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):
Please see the Fiscal Note Summary.
Memorandum
Please see the Fiscal Note Summary.
Person submitting Fiscal Note: Diana Stout
Email Address: diana.stout@wvsto.com