NOTE:  As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used for other purposes.

 

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F I S C A L   I M P A C T   R E P O R T

 

 

 

SPONSOR:

SFC

 

DATE TYPED:

03/10/03

 

HB

 

 

SHORT TITLE:

Capital Expenditures

 

SB

CS/134/aSFL#1

 

 

ANALYST:

Kehoe

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

$8,800.3

 

 

 

Non-Recurring

General Fund

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

 

LFC Files

 

SUMMARY

 

     Synopsis of Senate Floor Amendment #1

 

Senate Floor Amendment #1 to CS/SFC/SB 134 replaces the “construction of a wastewater treatment facility” with “construction at a fire department” in Chaves County.  The amendment has no fiscal impact to the bill.       

 

     Synopsis of Committee Substitute

 

Senate Finance Committee Substitute for Senate Bill 134 appropriates $8,800.3 from the General Fund to 14 state agencies or universities for funding 144 capital outlay projects statewide. 

 

     Significant Issues

 

Section 1 of the bill contains provisions for the limitations and reversions of the general funds appropriated in the bill.  Specifically, general fund balances for projects for which appropriations were made to match federal grants must revert six months after completion of the project; appropriations to purchase vehicles, heavy equipment, educational technology or equipment or furniture not related to a more inclusive construction or renovations project will revert at the end of fiscal year 2004; appropriations to purchase emergency vehicles or other vehicles that require special equipment, such as ambulances, police vehicles, etc., will revert at the end of fiscal year 2005.  For all other projects reversions must be made within six months of completion of the project, but no later than the end of fiscal year 2008.

 

Subsection C specifically states that money appropriated in this bill cannot be used to pay indirect project costs. 

 

Subsection D defines “unexpended balance” as the remainder of an appropriation after reserving for unpaid costs and expenses covered by binding written obligations to third parties.

 

Section 16 states that if an appropriation for a project contained in this bill is not sufficient to complete all the purposes specified, the appropriation may be expended for any portion of the purposes specified in the appropriation.  However, expenditures cannot be made for purposes other than those specified in the appropriation. 

 

Section 17 provides that the appropriations authorized in the bill include one percent for the Arts in Public Places Fund.

 

The bill contains an emergency clause.

 

FISCAL IMPLICATIONS

 

The appropriation of $8,800.3 contained in this bill is a non-recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of fiscal year 2008, unless as otherwise provided, shall revert to the general fund.

 

A total of $12,600.0 was available to the Senate for expenditures in either Senate Bill 655, the Supplemental General Appropriations Act, or CS/SB 134/a/SFl#1.  The $8,800.3 reflects the capital outlay portion of the available funding.

 

LMK/njw:yr