FISCAL NOTE
Date Requested: October 12, 2021
Time Requested: 11:17 AM |
| Agency: |
Lottery Commission, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 6068 |
Introduced |
HB332 |
|
|---|
| CBD Subject: |
Governor -- Bills Requested By |
|---|
|
FUND(S):
Fund 7200 - Lottery Operating and Expense Fund
Sources of Revenue:
Special Fund
Legislation creates:
Increases Existing Expenses
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.
The increase in salary proposed by the Amendment of W. Va. Code 6-7-2A to the salary of the Director of the Lottery Commission will increase expenditures from the Lottery's Operating and Expense Fund (also known as Fund 7200) in the following:
1) Increase $17,500 in expenditures from fund based upon increase in gross salary;
2) Increase of $1,750 in expenditures from fund based on the 10% of gross salary mandated to be withheld for Public Employees Retirement System (PERS) in 2022;
3) Increase of $1,085 in expenditures from fund based on the 6.2% of gross salary mandated to be withheld for employer social security (FICA Tax);
4) Increase of $254 in expenditures from fund based on the 1.45% of gross salary mandated to be withheld for Medicare Tax Employer.
The proposed amendments will result in an increase in costs of approximately $20,589 per year to the Lottery's Operating and Expense Fund.
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 |
13,733 |
20,589 |
20,589 |
| 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 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.
The increase in salary proposed by the Amendment of W. Va. Code 6-7-2A to the salary of the Director of the Lottery Commission will increase expenditures from the Lottery's Operating and Expense Fund (also known as Fund 7200) in the following:
1) Increase $17,500 in expenditures from fund based upon increase in gross salary;
2) Increase of $1,750 in expenditures from fund based on the 10% of gross salary mandated to be withheld for Public Employees Retirement System (PERS) in 2022;
3) Increase of $1,085 in expenditures from fund based on the 6.2% of gross salary mandated to be withheld for employer social security (FICA Tax);
4) Increase of $254 in expenditures from fund based on the 1.45% of gross salary mandated to be withheld for Medicare Tax Employer.
The proposed amendments will result in an increase in costs of approximately $20,589 per year to the Lottery's Operating and Expense Fund.
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.
N/A.
Person submitting Fiscal Note: W. Brian Nickerson, General Counsel
Email Address: bnickerson@wvlottery.com