FISCAL NOTE



FUND(S):

Hatfield McCoy Recreation Area Fund

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


This bill strikes language which currently directs the Hatfield- McCoy Recreation Authority to deposit civil penalty fines collected by the Authority into a the Hatfield-McCoy Recreation Fund within the State Treasurer's Office. This fund was created during the 2007 Legislative Session and allows for the revenues to be deposited, but did not grant the State Treasurer's Office authority to disburse the funds back to the Authority. This bill cleans up the intent of the legislation which allows the Authority to keep the revenues collected to be spent by the Authority for the benefire of the Hatfield-McCoy Recreation Area. At the present time, the State Treasurer's Office is in receipt of $5,000. that has been collected to date in FY2008. I would suggest additional language be inserted into the bill which would direct the State Treasurer's Office to liquidate the Hatfield-McCoy Recreation Area Fund in favor of the Authority and subsequently close the account.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2008
Increase/Decrease
(use"-")
2009
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 5,000 0 0
Personal Services 0 0 0
Current Expenses 5,000 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues -5,000 0 0


Explanation of above estimates (including long-range effect):


The bill as written will stop the process of having the Hatfield-McCoy Recreation Area Authority send their civil penalty fine collections to the State Treasurer's Office. Instead, the Authority would retain these collections for use by the Authority for the benefit of the Hatfield-McCoy Recreation Area. At present, the State Treasurer's Office staff processes the monthly deposits from the Authority to the Fund, where the funds accumulate. Since the Treasurer has no authority to disburse said funds, the deposits continue to reside in the fund.



Memorandum


At the present time, the State Treasurer's Office is in receipt of $5,000. that has been collected to date in FY2008. I would suggest additional language be inserted into the bill which would direct the State Treasurer's Office to liquidate the Hatfield-McCoy Recreation Area Fund in favor of the Authority and subsequently close the account.



    Person submitting Fiscal Note: Blair Taylor
    Email Address: blair.taylor@wvsto.com