Date Requested:February 21, 2011
Time Requested:02:08 PM
Agency: Investment Management Board
CBD Number: Version: Bill Number: Resolution Number:
2011R2918 Introduced SB606
CBD Subject: ROUTE 35 FINANCING
FUND(S)
Public Employees Retirement System
Sources of Revenue
Other Fund Investments
Legislation creates:
Neither Program nor Fund

Fiscal Note Summary

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

    The IMB will incur administrative cost in overseeing the loan authorized by this legislation. The most significant cost will be related to the audit and valuation of the loan.

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 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 10,000 10,000 0
2. Estimated Total Revenues 0 0 0
3. Explanation of above estimates (including long-range effect):
    Annual cost for audit and valuation is estimated to be $10,000.


Memorandum
Person submitting Fiscal Note:
Matthew E. Jones, CFO / COO
Email Address:
matt.jones@wvimb.org
    It is undetermined if the bills provisions are appropriate for an investment by the IMB. More in-depth analysis is required.