FISCAL NOTE
Date Requested: January 31, 2018
Time Requested: 01:17 PM |
| Agency: |
Higher Education Policy Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1910 |
Introduced |
HB4374 |
|
|---|
| CBD Subject: |
Finance and Administration |
|---|
|
FUND(S):
0344,0348
Sources of Revenue:
General Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
House Bill 4374, if enacted, would provide a mechanism for the independent evaluation of the Legislative Auditor’s biennium revenue estimates by West Virginia and Marshall universities’ business colleges. It is estimated that these universities would expend about $8,000 in total biannually to comply with the provisions of this bill.
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 |
8,000 |
8,000 |
| Personal Services |
0 |
8,000 |
8,000 |
| 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):
It is projected that an existing employee at each university would work about two weeks to produce the reports required by this legislation. The approximate annual salary for each employee is about $82,000 and the anticipated fringe benefits costs are about 23 percent of the salary amounts. For a two week period, the salary would cost about $3,200 and the associated fringe benefits would be about $725.
Memorandum
Person submitting Fiscal Note: Ed Magee
Email Address: emagee@wvhepc.edu