2009-2010 Enacted Budget Report – Executive Summary

2009-10 Financial Plan At-a-Glance

FINANCIAL PLAN AT-A-GLANCE: IMPACT ON KEY MEASURES
(millions of dollars)
  2009-10
  2007-08
Actuals
2008-09
Results*
Before
Actions
Enacted
Budget
State Operating Funds Budget        
Size of Budget $77,003 $78,168 $88,154 $78,742
Annual Growth 4.8% 1.5% 12.8% 0.7%
         
Other Budget Measures (Annual Growth)        
General Fund (with transfers) $53,387 $54,607 $63,565 $54,908
  3.5% 2.3% 16.4% 0.6%
         
State Funds (Including Capital)   $81,379 $83,146 $94,243 $84,657
  5.3% 2.2% 13.3% 1.8%
         
Capital Budget (Federal and State) $6,131 $6,830 $7,983 $8,832
  10.3% 11.4% 16.9% 29.3%
         
Federal Operating  $32,924 $36,573 $36,616 $44,361
  -2.3% 11.1% 0.1% 21.3%
         
All Funds   $116,058 $121,571 $132,753 $131,935
  2.9% 4.8% 9.2% 8.5%
         
All Funds (Including “Off-Budget” Capital) $117,692 $123,833 $134,420 $133,737
  3.2% 5.2% 8.5% 8.0%
         
Inflation (CPI) Growth  3.3% 2.7% -0.2% -0.2%
         
All Funds Receipts (Annual Growth)        
Taxes $60,871 $60,337 $56,654 $60,647
  6.7% -0.9% -6.1% 0.5%
         
Miscellaneous Receipts $19,643 $20,064 $19,917 $22,185
  7.4% 2.1% -0.7% 10.6%
         
Federal Grants $34,909 $38,834 $38,610 $47,718
  -2.6% 11.2% -0.6% 22.9%
         
Total Receipts $115,423 $119,235 $115,181 $130,550
  3.8% 3.3% -3.4% 9.5%
         
Base Tax Growth/(Decline) ** 6.0% -3.0% -6.5% -6.5%
         
Combined General Fund/HCRA Outyear Gap Forecast        
2008-09 N/AP N/AP ($2,219) $0
2009-10 N/AP N/AP ($17,857) $0
2010-11 N/AP N/AP ($20,374) ($2,166)
2011-12 N/AP N/AP ($21,900) ($8,757)
2012-13 N/AP N/AP ($22,845) ($13,706)
         
Cumulative Gaps N/AP N/AP ($85,195) ($24,629)
         
Total General Fund Reserves  $2,754 $1,948 N/AP $1,378
         
State Workforce (Subject to Executive Control) 137,635 136,490 136,108 128,803
         
Debt         
Debt Service as % All Funds 4.0% 4.3% 4.5% 4.5%
State-Related Debt Outstanding  $49,884 $51,730 $54,532 $54,532
* Unaudited Year-End Results.
** Reflects estimated growth/(decline) in tax receipts excluding the impact of Tax Law changes since SFY 1986-87.

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