SB 0926 - Fiscal Note

Fiscal Note - SB 0926 - Sch. Dist. to Publish Financial Statement in Non-Audited Yr.

L.R. NO.  3497-01
BILL NO.  Truly Agreed To And Finally Passed SB 926
SUBJECT:  Schools:  Education
TYPE:     Original
DATE:     May 8, 1996



                              FISCAL SUMMARY
                    ESTIMATED NET EFFECT ON STATE FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None                            $0                  $0                $0

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

None                            $0                  $0                $0

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                $0                  $0                $0


                              FISCAL ANALYSIS

ASSUMPTION

Officials from the Department of Elementary and Secondary Education (DESE)
assume the proposal would have no fiscal impact on them.  They assume a
minimal savings could result to school districts of less than $500 per
district, assuming the districts publish the districts' audit and unaudited
statements in the year of the audit.  The Oversight Division assumes the
districts would only publish the audited statements in the year of the audit,
and therefore, no savings would result.

Based on a response to a similar proposal, officials from the St. Louis
Public Schools assume the proposal would result in no fiscal impact to them
because they are audited annually.

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

The proposal would require the school boards to publish a statement of
receipts and expenditures for any year for which it does not cause an audit
to be performed after the close of the school year.  Current law requires the
statement to be published annually and the audit to be published.

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

Department of Elementary and Secondary Education
St. Louis Public Schools                                            Jeanne