COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:1488S.01I Bill No.:SB 365 Subject:Civil Procedure; County Officials; Estates, Wills and Trusts; Guardians Type:Original Date:March 15, 2023Bill Summary:This proposal modifies provisions relating to pooled estate accounts by
public administrators and venue in guardianship and conservatorship cases.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUNDFUND AFFECTEDFY 2024FY 2025FY 2026Total Estimated Net
Effect on General
Revenue $0$0$0
ESTIMATED NET EFFECT ON OTHER STATE FUNDSFUND AFFECTEDFY 2024FY 2025FY 2026Total Estimated Net
Effect on Other State
Funds $0$0$0
Numbers within parentheses: () indicate costs or losses. L.R. No. 1488S.01I
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ESTIMATED NET EFFECT ON FEDERAL FUNDSFUND AFFECTEDFY 2024FY 2025FY 2026Total Estimated Net
Effect on All Federal
Funds $0$0$0
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE)FUND AFFECTEDFY 2024FY 2025FY 2026Total Estimated Net
Effect on FTE 000
☐ Estimated Net Effect (expenditures or reduced revenues) expected to exceed $250,000 in any
of the three fiscal years after implementation of the act or at full implementation of the act.
☐ Estimated Net Effect (savings or increased revenues) expected to exceed $250,000 in any of
the three fiscal years after implementation of the act or at full implementation of the act.
ESTIMATED NET EFFECT ON LOCAL FUNDSFUND AFFECTEDFY 2024FY 2025FY 2026Local Government$0 to (Unknown)$0 to (Unknown)$0 to (Unknown) L.R. No. 1488S.01I
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FISCAL ANALYSIS
ASSUMPTION
Officials from the Office of the State Courts Administrator and the Department of Social
Services
Oversight does not have any information to the contrary. Therefore, Oversight will reflect a zero
impact in the fiscal note for these agencies.
Oversight only reflects the responses received from state agencies and political subdivisions;
however, counties and county public administrators were requested to respond to this proposed
legislation but did not. A listing of political subdivisions included in the Missouri Legislative
Information System (MOLIS) database is available upon request.
Oversight notes §475.275.2(2) of this proposal removes the requirements of a county of a
certain population and opens the examination of accounts to all counties that are pooled for
investing and management of estate funds to be examined on at least an annual basis. The
proposal describes what will be examined and placed into a report which shall be paid by the
county as outlined in §475.275.2(4). Oversight assumes counties could be impacted by this
proposal, but is unclear by how much. Therefore, Oversight will reflect a $0 to negative
unknown fiscal impact to counties for this proposal.
FISCAL IMPACT – State GovernmentFY 2024
(10 Mo.)
FY 2025FY 2026$0$0$0FISCAL IMPACT – Local GovernmentFY 2024
(10 Mo.)
FY 2025FY 2026COUNTIESCost – of examination of accounts and
preparation of reports done on estate
funds
$0 to
(Unknown)
$0 to
(Unknown)
$0 to
(Unknown)
ESTIMATED NET EFFECT ON
COUNTY FUNDS
$0 to
(Unknown)
$0 to
(Unknown)
$0 to
(Unknown)
FISCAL IMPACT – Small Business
Small CPA businesses may be impacted in a positive way as a result of this proposal. L.R. No. 1488S.01I
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FISCAL DESCRIPTION
This act modifies provisions relating to guardianships, including audits of pooled estate accounts
for public administrators and venue for guardianship and conservatorship cases.
POOLED ESTATE ACCOUNTS (SECTION 475.275)
Currently, the Public Administrator of Jackson County, when serving as a conservator, is
required to have any pooled accounts audited at least once a year. The audit shall provide a
review of the records of receipts and disbursements and each estate account. Upon completion of
the audit, the accountant shall render a report to the judge showing receipts, disbursements, and
account balances as to each estate and as well as the total assets on deposit in the pooled account
on the last calendar day of each year.
This act repeals the provisions and instead provides that a public administrator of any county
serving as a conservator or personal representative using pooled accounts for the management of
estate funds shall have such accounts examined on an annual basis. The examination shall:
(1) Compare the pooled account's year-end bank statement and obtain the reconciliation of the
pooled account from the bank statement to the fiduciary's general ledger balance on the same
day;
(2) Reconcile the total of individual accounts in the fiduciary's records to the reconciled pooled
account's balance and note any difference;
(3) Confirm if collateral is pledged to secure accounts on deposit in the pooled account in excess
of FDIC coverage; and
(4) Confirm the account balance with the financial institution.
The public administrator shall certify by affidavit that the conditions of this act for establishing
pooled accounts have been met.
VENUE IN GUARDIANSHIP AND CONSERVATORSHIP CASES (SECTION 475.040)
This act further provides that a guardianship or conservatorship proceeding may be transferred to
a court in another county if it appears to the court that at any time before the termination of a
guardianship or conservatorship that the domicile, instead of the domicile or residence, of the
ward or protectee has changed to another county.
This legislation is not federally mandated, would not duplicate any other program and would not
require additional capital improvements or rental space. L.R. No. 1488S.01I
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SOURCES OF INFORMATION
Office of the State Courts Administrator
Department of Social Services
Julie MorffRoss StropeDirectorAssistant DirectorMarch 15, 2023March 15, 2023