Supplementing and amending appropriations to Department of Commerce, Office of Secretary
Impact
The passage of SB754 has implications for state law relating to appropriations and general revenue management. By addressing the unappropriated surplus balance in the state treasury, the bill signifies the state's commitment to efficiently utilizing available financial resources. This measure aims to ensure adequate funding for the Department of Commerce, which is crucial for promoting economic growth and maintaining state operational capacities. The bill reflects fiscal prudence in managing surplus balances and reallocating them for specific departmental needs.
Summary
Senate Bill 754 focuses on the supplemental budget appropriations for the fiscal year 2023 for the West Virginia Department of Commerce, specifically the Office of the Secretary. The bill aims to amend Chapter 11 of the Acts of the Legislature, which pertains to the budget, by adding a new line item for the distribution of excess funds from the State Fund, General Revenue, amounting to a significant $1,000,000,000. This allocation is intended to support various operational needs and maintain financial stability within the department during the fiscal year ending June 30, 2023.
Sentiment
The general sentiment surrounding SB754 appeared to be supportive, particularly among legislative members concerned with financial oversight and economic development. Proponents argued that this bill represents a prudent and necessary step in optimizing the state’s financial resources, fostering a forward-looking budget strategy. However, there may be opposing perspectives regarding the size of the surplus allocation, with calls for cautious spending and transparency in the uses of such significant funds.
Contention
While there seems to be broad support for enhanced funding to the Department of Commerce, points of contention could emerge regarding accountability for the allocation of the newly appropriated funds. Critics may voice concerns over how the funds are spent and whether such a large allocation aligns with the state's overall financial health and priorities. This aspect of fiscal governance highlights ongoing debates around budget priorities and the effectiveness of government expenditure amidst ever-present economic challenges.
Supplementing and amending appropriations by decreasing items of appropriation to the Department of Economic Development - Office of the Secretary and increasing items of appropriation to the Department of Commerce - Office of the Secretary
To provide appropriations from the General Fund for the expenses of the Executive, Legislative and Judicial Departments of the Commonwealth, the public debt and the public schools for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2023; to provide appropriations from special funds and accounts to the Executive and Judicial Departments for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2023; to provide for the appropriation of Federal funds to the Executive and Judicial Departments for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2023; and to provide for the additional appropriation of Federal and State funds to the Executive and Legislative Departments for the fiscal year July 1, 2022, to June 30, 2023, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2022.