|Date Requested:January 09, 2014
Time Requested:01:09 PM
| FUND(S) |
Sources of Revenue
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
|The purpose of this bill is to amend and reenact §18-9-3a of the Code of West Virginia, 1931, as amended, relating to publication of financial statements by county boards of education; providing that only a notice of availability of the statement be published; and providing that the cost of publishing the notice be paid from the board’s general fund.|
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||-178,674||-178,674|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
3. Explanation of above estimates (including long-range effect):
There are no savings to the State of WV under this proposal as the cost of publishing the financial statements is borne by the county boards of education. Based on a survey of chief school business officials, the estimated savings to the county boards of education is $178,674 annually. The most recent publication of financial statements cost the county boards of education $184,834, and the estimated cost to publish only the notice of availability is only $6,160.