Military assistance trust fund appropriation.

05LSO-0004.L1

                                                         

FISCAL NOTE

This bill contains an appropriation of $5,000,000 from the BUDGET RESERVE ACCOUNT to the Military Assistance Trust Fund.

 

	FY 2006	FY 2007	FY 2008
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Increase:
TRUST AND AGENCY FUND	189,500	191,500	193,000

Source of revenue increase: Investment income from $5 million appropriation to the Military Assistance Trust Fund.

 

Assumptions:

 

Interest from the Military Assistance Trust Fund corpus is annually credited to a separate account within the Trust and Agency Fund.

 

The above estimates assumes $5 million appropriation will be invested in the State Agency Pool, with an anticipated annual rate of return of 3.79% for FY 2006, 3.83% for FY 2007, and 3.86% for FY 2008.

 

	FY 2006	FY 2007	FY 2008
NON-ADMINISTRATIVE IMPACT
Anticipated Expenditure Increase:
TRUST AND AGENCY FUND	0	189,500	191,500

Source of expenditure increase: Expenditure of investment income credited to the Trust and Agency Fund.

 

Assumptions:

 

It is assumed that investment income from the Military Assistance Trust Fund is available for expenditure from the Trust and Agency Fund in the following fiscal year.

 

The above estimate assumes all investment income would be distributed annually by the Adjutant General in accordance with W.S. 19-7-402.

 

On it's own, this bill does not represent an administrative impact to the State Treasurer or require additional personnel; however, the agency would like to note that multiple new trust funds may be proposed. If multiple bills creating various trust funds are successful, the agency my require additional staffing.

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881

(Info. provided by Sharon Garland, Treasurer's Office; 777-7475)