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F I S C A L I M P A C T R E P O R T
SPONSOR Campos
DATE TYPED 02/28/05 HB
SHORT TITLE Torrance County Finance Board Loan Repayment
SB 929
ANALYST Ford
APPROPRIATION
Appropriation Contained Estimated Additional Impact Recurring
or Non-Rec
Fund
Affected
FY05
FY06
FY05
FY06
$131.0
Recurring General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates HB 887
SOURCES OF INFORMATION
LFC Files
Responses Received From
Department of Finance and Administration (DFA)
SUMMARY
Synopsis of Bill
Senate Bill 929 appropriates $131 thousand from the general fund to the local government divi-
sion of DFA for Torrance county to repay a state board of finance loan.
Significant Issues
According to DFA Torrance county encountered financial difficulty after over-spending by ap-
proximately $500 thousand. Revenues were shifted within the county to provide for public
safety and the State Board of Finance made an emergency loan to provide for additional public
safety resources.
FISCAL IMPLICATIONS
The appropriation of $131 thousand contained in this bill is a recurring expense to the general
fund. Any unexpended or unencumbered balance remaining at the end of FY 06 shall revert to