FISCAL NOTE
Date Requested: February 06, 2023
Time Requested: 11:00 AM |
| Agency: |
Auditor, State of WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3360 |
Introduced |
HB3251 |
|
|---|
| CBD Subject: |
Finance and Administration |
|---|
|
FUND(S):
State Funds
Sources of Revenue:
Other Fund All State Fund Types - General Revenue; Special Revenue; and, Federal Programs. Local Funds
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of proposed House Bill 3251 is to mandate prompt payment of legitimate, uncontested invoices within forty-five days of receipt by a state agency, mandate processing of legitimate, uncontested invoices within ten days of receipt by the state agency and outline the procedures for calculating and remitting interest to the vendor. This Bill was recommended for introduction in the 2023 Regular Session of the West Virginia Legislature by the West Virginia State Auditor’s Office.
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 |
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):
We have reviewed the proposed legislation and we believe the operating capacities of the WVOSIS accounting system allow the mandated timeframes set out in the proposed legislation to be met by the various state agencies and the State Auditor’s Office. The State Auditor’s Office believes it would be able to implement the requirements of the Bill utilizing existing staff and resources currently available to the office. Accordingly, we believe there would be no additional costs associated with the passage of the legislation.
Memorandum
We have no additional comments regarding this proposed legislation.
Person submitting Fiscal Note: Michael E. Sizemore, CPA
Email Address: Mike.Sizemore@wvsao.gov