This Fiscal Note is not an official copy and should not be quoted or cited.
This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0698 - Creates the Family Investment Trust
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO. 3058-05
BILL NO. Perfected SCS for SB 698
SUBJECT: Family Investment Trust
TYPE: Original
DATE: April 23, 1998
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| General Revenue* | ($3,733) | ($4,614) | ($4,752) |
| Partial Estimated
Net Effect on All State Funds |
($3,733) | ($4,614) | ($4,752) |
* Totals do not include unknown revenue and unknown costs.
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| Federal | $0 | $0 | $0 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON LOCAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 4 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials from the State Treasurer's Office and Office of Administration indicated this proposal would not fiscally impact their office.
The Department of Social Services, Department of Economic Development, Department of Elementary and Secondary Education, Department of Labor and Industrial Relations, Department of Mental Health, Department of Corrections, and Department of Health are the departments that make up the Family Investment Trust Board. The above departments all agree this proposal will not fiscally impact their agencies. The departments assume any resources contributed to the Family Investment Trust will be expended on necessary expenses, resulting in a net zero fiscal impact.
Oversight notes the same seven departments noted above are also in a collaboration known as the Caring Communities Program. Oversight also notes that the duties of the FIT board are very similar to those of the Caring Communities program which is fiscally administered by the Department of Social Services (DOS). Section 205.565 RSMo, allows the DOS to use, administer, and dispose of any gifts, grants, or in-kind services and to award grants to qualifying entities to carry out the program. Included in the FY 99 executive budget for the DOS is an appropriation from the General Revenue Fund for $3,280,802 and an appropriation from federal funds for $7,240,000. Oversight assumes, based on discussions with the Office of Administration - Division of Accounting, the Caring Communities appropriations would not be transferred to the FIT Board.
Oversight assumes an unknown amount of contribution and gift revenue for the FIT Board.
Oversight also notes that there could be additional expenses such as reimbursements to the FIT Board members and expenses for preparing the reports required by this proposal. Expenses for the FIT Board would include travel, hotel, and meal costs. Oversight assumes each of the 14 members could incur the meeting costs and would be reimbursed from the FIT Fund. Meeting costs were estimated at $160 for each member for each meeting. (Oversight assumed $75 for mileage, $60 for a hotel room, and $25 for meals.) The proposal requires two meetings per year. Therefore, total meeting costs, at a minimum, could be $4,480 annually. Oversight notes that the costs for preparing the reports for the governor and general assembly are unknown as the costs would be based on the actions of the FIT Board.
Oversight assumes any revenues and expenditures would be transacted through the General Revenue Fund as the proposal is silent regarding any new state fund.
| FISCAL IMPACT - State Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| GENERAL REVENUE FUND | |||
| Revenue | |||
| Contributions, Grants, Gifts, etc. | Unknown | Unknown | Unknown |
| Costs | |||
| Board Member Meeting Expenses | ($3,733) | ($4,614) | ($4,752) |
| Annual Report Preparation | (Unknown) | (Unknown) | (Unknown) |
|
PARTIAL ESTIMATED NET EFFECT | |||
| ON GENERAL REVENUE FUND | ($3,733) | ($4,614) | (4,752) |
| * Totals do not include unknown revenue and unknown costs. | |||
| FISCAL IMPACT - Local Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| 0 | 0 | 0 | |
| FISCAL IMPACT - Small Business | |||
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal creates the "Family Investment Trust". The trust is designed to network agencies and community partnerships using the Caring Communities model to develop a statewide system for community-based delivery of services to Missouri's children, youth and families. The trust is governed by a board comprised of seven private sector individuals and the Directors of the Departments of Corrections, Elementary and Secondary Education, Health, Labor and Industrial Relations, Economic Development, Mental Health and Social Services.
The board will be responsible for recruiting and chartering community partnerships throughout the state, providing assistance to the partnerships to identify the community's needs and
development of strategic plans for continued collaboration. Additionally, the board will advise the Governor and General Assembly on changes necessary to enhance the accountability of service delivery at the community level.
DESCRIPTION (continued)
This legislation is not federally mandated, may duplicate another program and would not require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Social Services
Department of Economic Development
Department of Elementary and Secondary Education
Department of Health
Department of Labor and Industrial Relations
Department of Mental Health
Department of Corrections
Office of State Treasurer
Office of Administration
Jeanne Jarrett, CPA
Director
April 23, 1998