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SPONSOR: | Taylor, JP | DATE TYPED: | 2/13/01 | HB | 314 | ||
SHORT TITLE: | Restore & Conserve NM Depression Era Art | SB | |||||
ANALYST: | Valenzuela |
Recurring
or Non-Rec |
Fund
Affected | ||||
FY01 | FY02 | FY01 | FY02 | ||
$ 725.1 | Recurring | General Fund | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Office of Cultural Affairs (OCA)
SUMMARY
Synopsis of Bill
House Bill 314 appropriates $725.1 from the general fund to the Office of Cultural Affairs (OCA) for the purpose of conservation of New Mexico public art created during the depression era. The bill details the appropriation for three items:
The bill allows OCA to expend the appropriation over two fiscal years (FY02 and FY03), at which point, the agency will be required to revert to the general fund any remaining unexpended or unobligated amount.
Significant Issues
Though not identified in the bill, the appropriation would go to the Arts Division of OCA. The Arts Division has 19.00 FTE, dedicated to managing similar flow-through funding programs. Consequently, the existing staff may be able to manage the appropriation internally. The $100.0 appropriation to hire a contractor for administration represents 13.8 percent administrative overhead.
FISCAL IMPLICATIONS
This bill appropriates $725.1 in general fund for expenditure in FY02 and FY03. At the end of FY03, all unexpended or unencumbered funds revert back to the general fund.
MFV/njw