National guard-billeted soldiers fund.

11LSO-0462.C1

FISCAL NOTE

	FY 2012	FY 2013	FY 2014
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Increase:
SPECIAL REVENUE FUND	$312.00	$312.00	$312.00

Source of revenue increase:

Interest income from deposited monies.

Assumptions:

1. From the State Treasurer, State Agency Pool (SAP) yield is forecast to be 3.4% for the period 2011-2014.

2. Anticipated monies deposited annually is $240,000.

3. All monies deposited and interest earned will be spent.

4. Monies will be deposited uniformly by month equaling $20,000.

5. Time between deposit and expenditure will be two weeks.

6. Yield rate for two weeks is 3.4% divided by 26 equals .13%.

7. Annual yield is $20,000 times .0013 times 12 months equals $312.00.

8. Approximately every three to four years more training occurs and a large balance will be maintained.  The state earned approximately $6,800 off annual yield last year with an average monthly balance of $200,000.

9. Monies for program have been deposited to the State Treasurer for the past seven years.  Use of program funds through this legislation does not change the current status.

Prepared by:   Douglas C. Shope, Military Department      Phone: 421-3112