West Virginia Senate Bill SB575

West Virginia 2023 Regular Session

• Introduced: 2/7/23
• Refer: 2/7/23

Caption

Expiring funds to unappropriated surplus balance in State Fund, General Revenue

Impact

The passing of SB575 would have implications for the state's fiscal management framework, allowing for a more organized approach toward handling surplus funds. By terminating funds that are no longer active or required, the bill aims to eliminate redundancy in the state financial system. Such a move could help state officials in planning future budgets, as it simplifies accounting practices and provides a clearer picture of available resources. This approach is intended to support the overall financial health of the state budget while ensuring that all funds are utilized effectively.

Summary

Senate Bill 575, introduced to the West Virginia legislature, focuses on expiring funds from three specific funds—the Stripper Well NDL 378 Fund, the Enforcement of Guardianship and Conservatorship Fund, and the Technology Support and Acquisition Fund. The bill proposes that the remaining balance of $2,447.07 from these funds be transferred to the General Revenue surplus. The intent of this legislation is to streamline state financial operations by closing inactive or repealed funds and consolidating their balances into the state's general revenue. This could potentially facilitate better budgetary management and clarity regarding state finances.

Sentiment

The atmosphere surrounding SB575 appears to be more bureaucratic than contentious, as it is primarily focused on administrative efficiencies rather than introducing new policies or regulations. However, the sentiment among lawmakers tends to lean positively, given that the closure of unnecessary funds is generally well-received as a responsible fiscal action. The lack of notable opposition suggests that most members view the bill as a technical necessity rather than a polarizing issue, indicating broad consensus on the need for improved financial practices.

Contention

While there do not seem to be significant points of contention to report with SB575, it does raise questions about the management of closed funds and the implications for any stakeholders that may have previously relied on the funding sources. Some members might express concerns about the potential impacts on programs that were associated with these funds, especially in terms of guardianship and technology support services. Nevertheless, any debate surrounding the bill largely focuses on the procedural aspects of fund management rather than the substantive implications of its content.