COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4482-01
Bill No.: Truly Agreed to and Finally Passed SB 1243
Subject: County Officials; Public Records, Public Meetings
Type: Original
Date: May 17, 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 All State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 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) | (Unknown) | (Unknown) |
ASSUMPTION
Officials from the Office of State Courts Administrator assume this proposal would not fiscally impact their agency.
Officials from Jackson County did not respond to our request for fiscal impact. Oversight assumes an unknown costs for public administrator audits to be paid for by Jackson County.
| 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 |
| LOCAL GOVERNMENT | |||
| Costs - annual audit for public administrator |
(Unknown) |
(Unknown) |
(Unknown) |
| ESTIMATED NET EFFECT ON LOCAL GOVERNMENTS |
(UNKNOWN) |
(UNKNOWN) |
(UNKNOWN) |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal requires the Public Administrator of Jackson County, who is serving as a conservator, to have pooled accounts audited at least once a year. The audit must review all receipts and disbursements of each estate account and a CPA must report to the judge about each account. The county is responsible for the expense of the audit.
Under this act, an account cannot be considered pooled unless: (1) It is maintained at a bank or saving and loan institution; (2) It is titled to reflect that the account is being held by a fiduciary; and (3) The fiduciary maintains records that contain a statement of all accretions and disbursements and are maintained in the ordinary course of business.
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
Office of State Courts Administrator
NOT RESPONDING: Jackson County
Mickey Wilson, CPA
Director
May 17, 2004