FISCAL NOTE
FUND(S):
Fund 0101
Sources of Revenue:
General Fund,Special Fund
Legislation creates:
A New Program,A New Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Passage of this bill will cause an increase in general revenue expenditures for the cost of establishing the office, Executive Director and staff. Even though the bill creates a Special Revenue fund, the "Minority Affairs Fund", it does not establish a revenue stream. No fees, taxes or other source of new revenue is authorized or established under the bill. All special revenue received is to be dedicated for program administration. The source of funding for start-up costs is not identified, thus it must be assumed that a Legislative Appropriation would cover the initial operating expenses, and every year thereafter.
The primary source of funding for any and all expenditures (for other than the Executive Director and staff) would be gift, grants, bequests, transfers, or donations from individuals, firms, foundations, or corporations. All funds received would be used as matching funds to obtain federal funds for the delivery of programs and services to minorities, to award grants, loans and/loan guaranties for minority affairs programs and activities. Consequently, all special revenue received would be used for program administration and thus have a net zero impact on State revenues.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2012
Increase/Decrease
(use"-") |
2013
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
816,500 |
791,500 |
| Personal Services |
0 |
253,500 |
253,500 |
| Current Expenses |
0 |
38,000 |
38,000 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
25,000 |
0 |
| Other |
0 |
500,000 |
500,000 |
| 2. Estimated Total Revenues |
0 |
500,000 |
500,000 |
Explanation of above estimates (including long-range effect):
Cost estimates assume effective date of July 1, 2012. First full year of implementation would be FY2013. FY2013 estimate reflects cost of 1 Executive Director @ 70,000, 1 Admin. Secretary @ 30,000, 1 Staff Attorney/Research Analyst @ 55,000, and 1 Minority Affairs Specialist $ 40,000, plus 30% Employee Benefits; plus cost of furniture and equipment, office space, travel & training for 4 employees. Year 2 costs are reduced by the estimated cost of furniture and equipment (incurred during start-up). "Other" expenditures include grants and/or loans to minority programs and activities, with the source of revenue being Special Revenue as defined in the bill.
Memorandum
None identified.
Person submitting Fiscal Note: Cindy Smith
Email Address: Cynthia.M.Smith@wv.gov