FISCAL NOTE
Date Requested: January 25, 2024
Time Requested: 04:54 PM |
| Agency: |
Higher Education Policy Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1104 |
Introduced |
HB5127 |
|
|---|
| CBD Subject: |
Education (Higher) |
|---|
|
FUND(S):
General
Sources of Revenue:
General Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This bill removes the reference of "pilot" to the Learn and Earn Program for Potomac State College of WV. The program eligibility and other requirements were created for Potomac State College of WV in HB144 during the August 2023 Special Session and passed. It became effective on passage, but no funding was appropriated.
Based on the fiscal year 2024 budget for the system wide Learn and Earn Program, the average expense per community college is $310,000. Therefore, in order to fully fund the program, the estimated cost per year for through the 2025-2026 academic year is $310,000. If the program becomes permanent at Potomac State College of WV after the 2025-2026 academic year, additional administrative support would be required and is estimated at $75,000 per year. The total post 2025-2026 academic year program cost is estimated to be $385,000 per year.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
310,000 |
385,000 |
| Personal Services |
0 |
0 |
75,000 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
310,000 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Explained in Summary Section.
Memorandum
Person submitting Fiscal Note: Misty Price
Email Address: misty.price@wvhepc.edu