COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3391-01
Bill No.: SB 941
Subject: Education, Elementary and Secondary; St Louis; Banks and Financial Institutions
Type: Original
Date: March 8, 2004
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Local Government | Unknown - Less than $100,000 | Unknown - Less than $100,000 | $0 |
ASSUMPTION
Officials from the Department of Elementary and Secondary Education, Department of Economic Development - Division of Finance, and the Office of State Treasurer state this proposal will have no fiscal impact on their agencies.
Officials from the Saint Louis Public Schools indicate there would be some savings in time devoted to the annual preparation, analysis, and presentations involved in this process, but could not determine dollar savings. Oversight assumes there would also be savings in advertising costs.
| FISCAL IMPACT - State Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| SCHOOL DISTRICTS | |||
| Savings - St Louis Public Schools - Advertising costs and other costs associated with annual depository bid process |
Unknown - Less than $100,000 |
Unknown - Less than $100,000 |
$0 |
| ESTIMATE NET EFFECT ON SCHOOL DISTRICTS (ST LOUIS) |
Unknown - Less than $100,000 |
Unknown - Less than $100,000 |
$0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
Currently, the Board of Education of the St. Louis Public Schools must advertise for bids from banking institutions once a year, whereas every other school district in the state must bid for such services every three years. This proposal authorizes a three-year bid cycle for the St. Louis Public Schools.
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
Department of Economic Development
Division of Finance
Office of State Treasurer
NOT RESPONDING
St Louis City Collector
Mickey Wilson, CPA
Director
March 8, 2004