FISCAL NOTE
FUND(S):
State Park Improvement Fund
Sources of Revenue:
Other Fund Excess Lottery Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
There is no excess capacity in the Lottery Fund or the Excess Lottery Fund to support any additional expenditures or obligations.
The bill has no effect on the projected amount of revenues of the Excess Lottery Fund. The Fund is projected to supply a finite amount of dollars already distributed by statutory distributions or appropriation. By introducing an increase to one recipient of money from the Excess Lottery Fund, the State Park Improvement Fund, some other recipient further down the line may not be funded or have reduced funding.
The bill will also allow a bond issuance up to $52.5 million for improvements to two state parks. The debt service on those bonds would be paid by the additional $3 million being directed to the State Park Improvement Fund.
The increase is funding to the State Park Improvement Fund would take effect in fiscal year 2014.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2012
Increase/Decrease
(use"-") |
2013
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
-3,000,000 |
| 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 |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
The bill would result in a $3,000,000 increase in expenditures from the State Park Improvement Fund with no corresponding increase in revenue to offset it.
Memorandum
The Excess Lottery Fund is declining each year based upon current Lottery projections primarly due to competition from surrounding states. By funding additional debt service, some other program may not be funded in later years as revenues continue to decrease. The impact of the bill is such that other appropriations out of Excess Lottery will be reduced by the increase to the State Park Improvement Fund for debt service.
There is simply no additional money available in either the Lottery Fund or the Excess Lottery Fund to support new expenditures in the coming years.
Person submitting Fiscal Note: Kathy Lawson
Email Address: klawson@wvlottery.com