Merit career-technical scholarships.

14LSO-0425.L1

                                                         

FISCAL NOTE

This bill contains an appropriation of $50,000 from the GENERAL FUND to the Legislative Service Office.  This appropriation is effective immediately.

 

DETAIL OF APPROPRIATION

Agency #:  201     Agency Name:  Legislative Service Office

Unit:  0101 Administration

 

EXPENDITURE BY SERIES AND YEAR       FY 2014         FY 2015         FY 2016

0100  Personnel/Benefit Costs           $2,400            $4,800           $4,800

0200  Supportive Services Costs         $6,700           $13,400          $13,400

 

Total Expenditure Per Year:             $9,100           $18,200          $18,200

 

Grand Total Expenditure:               $45,500

Total Appropriated to Agency:          $50,000

Total Appropriated by Fund

GENERAL FUND             :             $50,000

 

Description of appropriation:

This appropriation will be expended to provide salary, travel and per diem to the 4 legislative committee members. The appropriation will also be expended to provide travel and per diem expenses for committee members who are not legislators and are not state employees. The above estimate assumes 2 meeting days taking place in FY 2014 and 4 meeting days each in FY 2015 and FY 2016.

 

 

FY 2015

FY 2016

FY 2017

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase (Decrease):

 

 

 

GENERAL FUND            

50,000

0

0

MERIT CAREER-TECH ENDOWMENT                   

125,000,000

0

0

SCHOOL CAP CON ACCOUNT  

(125,050,000)

0

0

 

Source of revenue increase (decrease):

Distribution of $125,000,000 in coal lease bonus revenues to the Merit Career-Technical Education Student Scholarship Endowment Account and $50,000 in coal lease bonus revenues to the General Fund in repayment of the appropriation.

 

Assumptions:

A total of $125,050,000 of coal lease bonus revenues in FY 2015 would be diverted from the School Capital Construction Account to the new endowment account and to the General Fund in repayment of the appropriation.

 

The above estimate is based on January 2014 CREG projections.

 

Any additional fiscal or personnel impact is not determinable due to insufficient time to complete the fiscal note process.

 

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