This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0949 - Eliminates Budget Stabilization & Cash Reserve Funds
L.R. NO. 3553-01
BILL NO. SB 949
SUBJECT: State Funds
TYPE: Original
DATE: March 6, 1996
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
Local Government
FISCAL ANALYSIS
ASSUMPTION
Office of Administration and State Treasurer's Office officials stated that
the proposal would not affect their agencies, administratively.
The balance in the Cash Operating Reserve Fund was about $213,000,000 as of
June 30, 1995. The balance in the Budget Stabilization Fund was about
$23,700,000 as of June 30, 1995. Oversight assumes that the disposition of
these monies would be as directed by the constitutional amendment.
FISCAL IMPACT - State Government FY 1997 FY 1998 FY 1999
(10 Mo.)
0 0 0
FISCAL IMPACT - Local Government FY 1997 FY 1998 FY 1999
(10 Mo.)
0 0 0
DESCRIPTION
This proposal would abolish the Budget Stabilization and Cash Operating
Reserve Funds thirty days after voter approval of a constitutional amendment
relating to budget stabilization and cash operating reserve funds.
This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.
SOURCES OF INFORMATION
Office of Administration
State Treasurer