FISCAL NOTE

Date Requested: February 06, 2018
Time Requested: 11:19 AM
Agency: Administration, WV Department of
CBD Number: Version: Bill Number: Resolution Number:
1859 Introduced HB4200
CBD Subject: Finance and Administration


FUND(S):

Various across state government

Sources of Revenue:

Other Fund various across state government

Legislation creates:





Fiscal Note Summary


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


Based on empirical observations, it is estimated that the bill would result in an increase to general revenue of no more than $10,000, and corresponding projected costs to the state of no more than $10,000 in various general and special revenue funds in spending units across state government. This calculation is based upon a $100 per day fine for agencies that do not provide required information necessary for the compilation of the Consolidated Annual Financial Report (CAFR). It is estimated that the Department of Administration would collect a $100 per day fine for 100 days or less across state government. It is estimated that no one agency would likely be more than 14 days late. The CAFR has already been assembled for FY 2018, therefore, the bill would have no effect on FY 2018. The Finance Division currently provides mandatory training to agencies to prepare the information necessary for the CAFR, therefore, there would be no increased cost related to the mandatory training.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2018
Increase/Decrease
(use"-")
2019
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 10,000 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 10,000 0


Explanation of above estimates (including long-range effect):


The estimates are based upon the Department of Administration collecting the $100 per day fine for 100 days or less collectively. It is estimated that no one agency would be more than 14 days late. The Finance Division currently provides mandatory training to agencies to prepare the information necessary for the CAFR, therefore, there would be no increased cost related to the mandatory training.



Memorandum


It is unclear whether the $100 per day fine is levied upon the agency or the agency head. If it is levied on the agency head, the fiscal impact to the late agency would be zero, however, General Revenue would receive increased revenue. The estimates above are based on the assumption that the $100 per day fine is levied on the agency, not the agency head.



    Person submitting Fiscal Note: Jennelle H. Jones
    Email Address: jennelle.h.jones@wv.gov