Master FIR (1988)

NOTE: As provided in LFC policy, this report is intended 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 in any other situation.

Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Suite 101 of the State Capitol Building North.

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

SPONSOR:	Ingle		DATE TYPED:	3/01/01		HB
SHORT TITLE:		Restore & Conserve NM Depression Era Art				SB	638
					ANALYST:		Dotson

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY01	FY02	FY01	FY02	Recurring or Non-Rec	Fund Affected
	$ 725.1			Recurring	General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Office of Cultural Affairs (OCA)

SUMMARY

Synopsis of Bill

Senate Bill 638 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:

$605.1 to restore and conserve the artwork;
$ 20.0 to develop a video documentary of the artwork; and
$100.0 to hire a contractor to administer the program.

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