FISCAL NOTE
Date Requested: January 14, 2023
Time Requested: 03:24 PM |
| Agency: |
Motor Vehicles, WV Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2612 |
Introduced |
HB2506 |
|
|---|
| CBD Subject: |
Motor Vehicles |
|---|
|
FUND(S):
Road Fund
Sources of Revenue:
Special Fund
Legislation creates:
Creates New Revenue, Creates New Expense, Creates New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to establish a national title clearinghouse using the WV DMV title system.
The Division estimates it will need 10 additional employees in the first year (FY2024) of implementation. Salary and benefits for these employees will total approximately $621,544.
Current expenses for the first year of implementation will consist of office furniture, equipment and supplies and will be approximately $67,000.
The agency estimates the number of first year transactions will be 250,000. If the agency sets a $15 transaction fee it will generate total first year revenue of $3,750,000 ($15 X 250,000).
Upon full implementation the agency expects to have a staff of 30 employees working on the project with a total salary and benefits of approximately $1,742,750.
Current expenses for rent of $45,450, utilities of $9,600, and office supplies of $12,000 will be required upon full deployment. For a total annual current expense of $67,050.
The agency estimates the yearly transactions upon full deployment to be 6,000,000. This transaction level will generate approximately $90,000,000 (6,000,000 X $15).
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2023
Increase/Decrease
(use"-") |
2024
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
688,544 |
1,809,800 |
| Personal Services |
0 |
621,544 |
1,742,750 |
| Current Expenses |
0 |
67,000 |
67,050 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
3,750,000 |
90,000,000 |
Explanation of above estimates (including long-range effect):
FY 2024
Personnel
TRANSPORTATION DIVISION MANAGER $1 65,000
TRANSPORTATION DMV UNIT MANAGER $50,000
TRANSPORTATION DMV SPECIALIST LEAD $42,000
TRANSPORTATION DMV SPECIALIST $259,000
Sub-Total $416,000
Annual Increment $6,600
Total Salaries and Increment $422,600
Benefits $205,544
Total Salary and Benefits $621,544
Current Expense
Office furniture $36,000
Office equipment $27,000
Office supplies $4,000
Total Current Expense $67,000
Total Cost $688,544
Revenue Estimate
Estimated Transactions 250,000
Transaction Fee $15
Revenue $3,750,000
Full Deployment
Personnel
TRANSPORTATION DIVISION MANAGER 1 $65,000
TRANSPORTATION DMV UNIT MANAGER $50,000
TRANSPORTATION DMV SPECIALIST LEAD $126,000
TRANSPORTATION DMV SPECIALIST $925,000
Sub-Total $1,166,000
Annual Increment $19,800
Total Salaries and Increment $1,185,800
Benefits $576,750
Total Salary and Benefits $1,742,750
Current Expense
Rent $45,450
Utilities $9,600
Office supplies $12,000
Total Current Expense $67,050
Total Cost $1,809,800
Revenue Estimate
Estimated Transactions $6,000,000
Transaction Fee $15
Revenue $90,000,000
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.
Person submitting Fiscal Note: Raeann Kriner
Email Address: raeann.k.kriner@wv.gov