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F I S C A L I M P A C T R E P O R T
SPONSOR Varela
ORIGINAL DATE
LAST UPDATED
2/17/07
2/26/07 HB 1101
SHORT TITLE CLOSING A CENTRAL ACCOUNTING FUND
SB
ANALYST Propst
REVENUE (dollars in thousands)
Estimated Revenue
Recurring
Fund
FY07
FY08
FY09
or Non-Rec
Affected
$161.4
Non-Recurring
General Fund
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Department of Finance and Administration (DFA)
SUMMARY
Synopsis of Bill
House Bill 1101 proposes to close and revert the unexpended and unencumbered balance in
Central Accounting Fund 718 to the General Fund in FY08.
SIGNIFICANT ISSUES
DFA reports that HB 1101 proposes to revert the unexpended or unencumbered balance in a
payroll clearing account with excess payroll collections from 1989 made by the Department of
Finance and Administration Financial Control Division from unidentified state agencies. HB
1101 proposes that the reversion occur by October 1, 2007 which is in FY08.
The Department of Finance and Administration Office of the Secretary and the Financial Control
Division estimate the proposed expected reversion to the General Fund in FY08 at $161.4.
TECHNICAL ISSUES
DFA notes that HB 1101 does note contain an effective date section.