FISCAL NOTE
Date Requested: February 24, 2021
Time Requested: 01:55 PM |
| Agency: |
Auditor, State of WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2642 |
Introduced |
HB2751 |
|
|---|
| CBD Subject: |
Municipalities |
|---|
|
FUND(S):
STATE FUNDS
Sources of Revenue:
Special Fund
Legislation creates:
Creates New Expense, Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of proposed House Bill 2751 is to establish a system to remediate fiscal emergencies of local governments, and to modernize the process for dissolution of municipal corporations in West Virginia.
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 |
95,000 |
95,000 |
| Personal Services |
0 |
75,000 |
75,000 |
| Current Expenses |
0 |
20,000 |
20,000 |
| 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. In addition, we anticipate the potential addition of $20,000 per year in legal expenses for representation by the Office of West Virginia Attorney General or outside legal counsel, as necessary, with respect to any litigation regarding municipal bankruptcies.
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