Wyoming task force on asset building for children.

11LSO-0251.L2

FISCAL NOTE

This bill contains an appropriation of $3,000,000 from the BUDGET RESERVE ACCOUNT to the Asset Building for Children Program Account. Funds in the account shall only be expended upon appropriation by the legislature.

This bill contains an appropriation of $15,000 from the GENERAL FUND to the Legislative Service Office.

This bill contains an appropriation of $10,000 from the GENERAL FUND to the State Treasurer.

DETAIL OF APPROPRIATION

Agency #:  201     Agency Name:  Legislative Service Office

Unit:  0101 Administration

EXPENDITURE BY SERIES AND YEAR       FY 2011         FY 2012         FY 2013

0100  Personnel/Benefit Costs                           $6,000                

0200  Supportive Services Costs                         $7,500                

Total Expenditure Per Year:                            $13,500               

Grand Total Expenditure:              $13,500

Total Appropriated to Agency:         $15,000

Total Appropriated by Fund

GENERAL FUND             :            $15,000

Description of appropriation:

This appropriation shall only be expended for the purpose of paying salary, per diem and mileage for four legislative members of the task force. The above estimate assumed four one-day meetings taking place in-state.

Agency #:  004     Agency Name:  State Treasurer

Program:  0101 Operations

EXPENDITURE BY SERIES AND YEAR       FY 2011         FY 2012         FY 2013

0200  Supportive Services Costs                        $10,000                

Total Expenditure Per Year:                            $10,000                

Grand Total Expenditure:              $10,000

Total Appropriated to Agency:         $10,000

Total Appropriated by Fund

GENERAL FUND             :            $10,000

Description of appropriation:

This appropriation shall only be expended for per diem and mileage for task force members who are not legislators and are not government employees or public officials.

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	FY 2012	FY 2013	FY 2014
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Increase:
ASSET BLDG. FOR CHILDREN	96,000	99,072	102,242

Source of revenue increase: Investment income

Assumptions:

The $3,000,000 appropriated for the Asset Building for Children Program account would be invested as part of the State Agency Pool.  The State Agency Pool has an anticipated yield of 3.2% for Fiscal years 2012 through 2014 (using the Oct 2010 CREG projections) and this account would receive these yield percentages.  Yield is defined as actual cash or realized return on investment.  As the amount of funds that may be appropriated from the account by the legislature to implement projects cannot be determined, the above assumes the entire $3,000,000 remaining in the account for all fiscal years shown. 

FY12 - $3,000,000 x 3.2% = $  96,000

FY13 - $3,096,000 x 3.2% = $  99,072

FY14 - $3,195,072 x 3.2% = $ 102,242

NOTICE-AGENCY ESTIMATE OF ADMINISTRATIVE IMPACT REQUESTED

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations.

The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:

State Treasurer

Prepared by:   Dean Temte, LSO  Phone: 777-7881

(Information provided by Sharon Garland, Treasurer’s Office; 777-7475)

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