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 Division of Corrections will be required to expend an additional $10,575,712.00, including associated benefits, to fund this legislation annually.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2005 Increase/Decrease (use"-") |
2006 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
10,575,712 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
0 |
0 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Number of position = 2,170 x $4,000 salary increase = $8,680,000.00
Workers Comp $8,680,000.00 x .0369 = $320,292.00
Retirement $8,680,000.00 x .105 = $911,400.00
Social Security $8,680,000.00 x .0765 = $664,020.00
TOTAL needed to fund annually $10,575,712.00
Memorandum
Person submitting Fiscal Note: Loita Butcher - WV Division of Corrections
Email Address: butchl@mail.wvnet.edu