FUND(S):



Sources of Revenue:

General Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2014
Increase/Decrease
(use"-")
2015
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 -178,674 -178,674
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 -178,674 -178,674
2. Estimated Total Revenues 0 0 0


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.



Memorandum


     Person submitting Fiscal Note: Brenda Freed
     Email Address: bfreed@access.k12.wv.us