FISCAL NOTE



FUND(S):

Chief Inspector

Sources of Revenue:

Other Fund Municipal General Funds

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


The passage of this bill would create a source of revenue for the Chief Inspector Fund of the State Auditor's office which would defray the cost of the audits for Class III and Class IV municipal audits by 37.5%. This would in effect reduce the cap on Class III and Class IV audits from the current amount of $2000. to $1250.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2010
Increase/Decrease
(use"-")
2011
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 160,000 0 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 160,000 0 0


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


Based on FY-2009, the $160,000. is the amount that would be generated by putting an addtional 2% in the Chief Inspector fund from the Interstate Public Service Corporation fund. Of this $160,000, approximately $31,076 would come from municipalities, with the remaining $128,924 split approximately 70/30 between school boards and counties. The school board share would be (70%) or $90,246 and the county share would be (30%) or $38,678.



Memorandum






    Person submitting Fiscal Note: Mack E. Parsons
    Email Address: mack.parsons@wvsao.gov