FISCAL NOTE
Date Requested: January 29, 2024
Time Requested: 09:14 AM |
| Agency: |
Higher Education Policy Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1104 |
Comm. Sub. |
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 allows Potomac State College of WV to become a permanently eligible institution in the Learn and Earn Program and removes the pilot program requirements. The pilot 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. If the program becomes permanent at Potomac State College of WV, additional administrative support would be required and is estimated at $75,000 per year. Therefore, the total estimated program cost is $385,000 per academic 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 |
385,000 |
385,000 |
| Personal Services |
0 |
75,000 |
75,000 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
310,000 |
310,000 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Memorandum
Person submitting Fiscal Note: Misty Price
Email Address: misty.price@wvhepc.edu