Colorado Legislative Council Staff

LOCAL

CONDITIONAL FISCAL NOTE

No State General Fund Impact

Local Government Expenditure Impact


Drafting Number:

Prime Sponsor(s):

LLS 98-563

Rep. Snyder

Sen. Wattenberg

Date:

Bill Status:

Fiscal Analyst:

January 29, 1998

House Local Government

Steve Tammeus (866-2756)

 

TITLE:            CONCERNING THE CUSTODY OF COUNTY FUNDS, AND, IN CONNECTION THEREWITH, SPECIFYING THE COUNTY TREASURER’S AUTHORITY AS CUSTODIAN OF COUNTY FUNDS AND MONEYS AND LIMITING THE BOARD OF COUNTY COMMISSIONERS’ AUTHORITY TO APPOINT ONE OR MORE CUSTODIANS OF COUNTY FUNDS.


Summary of Legislation


STATE FISCAL IMPACT SUMMARY

FY 1998/99

FY 1999/2000

State Revenues

General Fund

Other Fund



 



 

State Expenditures

General Fund

Other Fund


 


 

FTE Position Change

None

None

Local Government ImpactAllows a board of county commissioners to bring court action against a county treasurer.


            This bill designates the county treasurer as the custodian of county funds, and repeals the requirement that the county treasurer deposit and invest county funds as approved and designated by written resolution of the board of county commissioners. The bill authorizes the board to bring an action in county court to determine whether the county treasurer has violated the statutory investment requirements.


            The bill authorizes the board to appoint one or more custodians of the funds if the county court determines that the county treasurer has violated the statutory investment requirements. The bill gives any such custodian the same authority and responsibilities as the county treasurer with respect to county funds and moneys. The bill grants county courts original jurisdiction to determine whether a county treasurer has violated the statutory investment requirements. This bill will become effective upon the signature of the Governor.


            This bill will not affect state revenue or expenditures. It may affect local government expenditures if a board of county commissioners elects to bring a court action against a county treasurer. Therefore, the bill is assessed as having a conditional fiscal impact.



Local Government Impact


            The bill may affect local government expenditures if a board of county commissioners has reason to believe the county treasurer has violated the provisions of the bill and elects to bring an action in county court against that treasurer.



Spending Authority


            This fiscal note would imply that no new state appropriations or spending authority are required for FY 1998-99.



Departments Contacted


            Local Affairs              Judicial