Date Requested: February 04, 2015
Time Requested: 01:40 PM
Agency: Auditor, State of WV
CBD Number: Version: Bill Number: Resolution Number:
2487 Introduced HB2583
CBD Subject: Municipalities


FUND(S):

No State-Level Fund Impacts

Sources of Revenue:

Other Fund Municipal Governments

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


    The provisions of proposed House Bill 2583 have no costs or revenue impacts directly upon the finances of the State of West Virginia. The bill's potential impacts would consists of potential cost savings for municipal governments around the State. Currently, 60 municipalities in West Virginia are required by law to publish their financial statements with an additional 172 municipalities exempted under current law from the publishing requirements as set forth in Chapter 8, Article 13, Section 23 of the West Virginia Code. Accordingly, we believe the proposed legislation would remove the requirement for the publication to consist of a Class I legal advertisement for the 60 municipalities not already exempted. We are unable to calculate the potential cost savings for these 60 municipalities. Instead, these 60 municipalities would be required to advertise the availability of their financial statements, make such financial statements available to the public on a website and at no cost by request at the municipality's principal office.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2015
Increase/Decrease
(use"-")
2016
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 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 0 0 0


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


    



Memorandum


    



    Person submitting Fiscal Note: Michael E. Sizemore, CPA
    Email Address: Mike.Sizemore@wvsao.gov