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 |
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State Expenditures General Fund Other Fund |
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|
FTE Position Change |
None |
None |
Local Government Impact — Allows 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