Date Requested:January 19, 2012
Time Requested:03:40 PM
Agency: Auditor, State of WV
CBD Number: Version: Bill Number: Resolution Number:
2011R2788 Introduced HB3181
CBD Subject: PROMPT PAY ACT OF 2011
FUND(S)
State Funds
Sources of Revenue
General Fund
Legislation creates:
A New Program

Fiscal Note Summary

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

    The Prompt Pay Act was on the books for a 16 year period from 1992 through 2007. The total paid out to companies during this period was $40,540. By calculating a simple average per year, ($40,540. divided by 16 years) the estimate cost to be paid out to companies per year would be $2,534. We also estimated that the clerical cost for perfoming this function would be approximately 2 hours per each application. During the 16 year period a total of 171 applications were received by the Auditor's office which is an average of 10.69 applications per year. 10.69 applications times 2 hours per application results in 21.38 hours of clerical time per year at a cost of $36.55 per hour, this would account for $782 in clerical or personal services costs. The total cost would be $2,534 plus $782 or a total of $3,316 per year.

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2012
Increase/Decrease
(use"-")
2013
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 3,316 3,316
Personal Services 0 782 782
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 2,534 2,534
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