FISCAL NOTE
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