FISCAL NOTE
Date Requested: February 23, 2021 Time Requested: 12:35 PM |
Agency: |
Auditor, State of WV |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2641 |
Introduced |
HB2686 |
|
CBD Subject: |
Municipalities |
---|
|
FUND(S):
STATE FUNDS
Sources of Revenue:
Special Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of proposed House Bill 2686 is to establish a system to remediate fiscal emergencies of local governments.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2021 Increase/Decrease (use"-") |
2022 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
75,000 |
75,000 |
Personal Services |
0 |
75,000 |
75,000 |
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):
After reviewing the proposed legislation, the State Auditor believes the expectations set out in the Bill would require the hiring of one additional staff member whose duties would be specifically dedicated to the various aspects of fiscal monitoring, outreach and follow-up necessary to effectuate the intent of the legislation. As a result, we believe we would incur additional personal services expenditures of $75,000 consisting of $55,000 in salary expenses and $20,000 for fringe benefit costs.
Memorandum
We believe all other aspects of the Bill, including review and any costs associated with report issuance regarding fiscal monitoring can be accomplished by existing staff members within the Chief Inspector’s Office at no additional cost to the taxpayers.
Person submitting Fiscal Note: Michael E. Sizemore, CPA
Email Address: Mike.Sizemore@wvsao.gov