Date Requested:February 11, 2011
Time Requested:12:04 PM
Agency: Auditor, State of WV
CBD Number: Version: Bill Number: Resolution Number:
2011R1656 Amendment HB2208
CBD Subject: MUNICIPAL AUDITS
FUND(S)
Interstate Commerce Disclosure Fund
Sources of Revenue
Special Fund
Legislation creates:
A New Fund

Fiscal Note Summary

Effect this measure will have on costs and revenues of state government.

     H.B. 2208 establishes a fund (Interstate Commerce Disclosure Fund) to defray the audit cost of class IV municipalities in the amount of $1,000 per year. To qualify for this relief, the municipality must have prior year revenue of $100,000 or less as certified by the State Auditor.
     Using current data from the Consolitated Budget Report for the period ending June 30, 2011, there would be 53 Class IV towns that would be eligible for the $1,000 subsidy and would be a total cost of $53,000.
     The Interstate Commerce Disclosure Fund would also be utilized to subsidize the cost of examination into special or unusual situations provided for in WV Code 6-9-7 subsection (o). This would include fraud and other improper activities that would require in depth audit procedures and would be supported from the fund in the amount of $150,000.

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2011
Increase/Decrease
(use"-")
2012
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 203,000 0 0
Personal Services 150,000 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 53,000 0 0
2. Estimated Total Revenues 0 0 0
3. Explanation of above estimates (including long-range effect):
    


Memorandum
Person submitting Fiscal Note:
Mack E. Parsons
Email Address:
mack.parsons@wvsao.gov