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New Hampshire State Budget

New Hampshire State Budget. 24 month budget 2 one year components Balanced Budget law July 1 – June 30 Fiscal Year Capital and Operating separate. Balanced Budget Law. RSA 9:8-B Each fund must be balanced Expenditures for biennium balanced by Estimated revenue

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New Hampshire State Budget

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  1. New Hampshire State Budget • 24 month budget • 2 one year components • Balanced Budget law • July 1 – June 30 Fiscal Year • Capital and Operating separate

  2. Balanced Budget Law • RSA 9:8-B • Each fund must be balanced • Expenditures for biennium balanced by • Estimated revenue • Money remaining from prior biennium • Bonding (debt) prohibited for “operating expenditures”

  3. New Hampshire Operating Budget

  4. Education Trust Fund • Created in 1998 • Response to Claremont case • Transparency re: tax increases • Not a real trust fund • Transfers to and from General fund • Statewide Property Tax • Separate or Combined?

  5. General and Education Revenues • Combined to Balance as if one fund • Diverse basket – 10 sources 81% • FY 2008 - $1,980M (2343-363) • Business combined $611M – 31% • Meals and Rooms; Tobacco; Liquor; Int/Div; RETT; Insurance; Communications, Lottery • Medicaid “enhancement”

  6. Unrestricted revenue: $1,980M • Business Taxes - $611 – 30.8% • Meals and Rooms - $214 – 10.8% • Tobacco - $164.3 – 8.3% • Liquor - $133.1 – 6.7% • I & D - $117.6 – 5.9% • Real Estate Transfer – $116.3 – 5.9% • Insurance – $95.9 – 4.8% • Communications - $79.8 – 4.0% • Lottery - $75.5 – 3.8% • Medicaid Enhancement - $111.7 – 5.6% • Other: Court fees, securities revenue, utility taxes, utility state property tax, beer tax, racing, tobac. settlement

  7. Spending • Education: Trust fund ($897m) plus • Operating Budget – 6 Categories • General Government - $337M - 21.5% • Justice $251M – 16% • Resources $47M – 3% • Transportation $1M – 0.1% (highway, turnpike funds) • Health and Social $690M - 44% • Education $237 – 15% (plus education fund) • What is a PAU?

  8. What the Budget Looks Like TOTAL APPROPRIATION FOR CATEGORY 06 EDUCATION AS INCLUDED IN SECTION 1.06 1458,949,429 1470,180,444 ESTIMATED SOURCE OF FUNDS FOR CATEGORY 06 EDUCATION AS INCLUDED IN SECTION 1.06 FEDERAL FUNDS 247,118,324 246,840,903 OTHER FUNDS 966,347,656 969,827,486 GENERAL FUND 237,302,514 245,351,289 SWEEPSTAKES FUNDS 8,180,935 8,160,766 TOTAL 1458,949,429 1470,180,444 TOTAL APPROPRIATION AS INCLUDED IN SECTIONS 1.01 THRU AND INCLUDING 1.06 5111,164,942 5236,012,880 ESTIMATED SOURCE OF FUNDS AS INCLUDED IN SECTION 1.01 THRU AND INCLUDING 1.06 FEDERAL FUNDS 1478,263,227 1507,005,507 OTHER FUNDS 1694,862,406 1716,948,101 GENERAL FUND 1563,832,988 1625,753,043 HIGHWAY FUNDS 276,455,391 286,354,455 FISH AND GAME FUNDS 12,364,494 12,562,280 SWEEPSTAKES FUNDS 8,811,202 8,810,152 TURNPIKES FUNDS 76,575,234 78,579,342 TOTAL 5111,164,942 5236,012,880

  9. What the Budget Looks like, 2 HB 0001 PAGE 456 06/22/07 -------- FISCAL YEAR 2008 ------- -------- FISCAL YEAR 2009------- 06 EDUCATION 03 DEPARTMENT OF EDUCATION 02 OFFICE OF THE DEP COMMISSIONER 02 FINANCIAL AID TO DISTRICTS-ST. 05 ADEQUATE EDUCATION GRANTS 90 HARDSHIP GRANTS F 5,000,000 5,000,000 91 ADEQUATE EDUCATION GRANTS 890,360,565 890,360,565 92 CHARTER SCHOOL TUITION 1,779,840 2,377,579 TOTAL 897,140,405 897,738,144 ESTIMATED SOURCE OF FUNDS FOR ADEQUATE EDUCATION GRANTS 09 AGENCY INCOME 897,140,405 897,738,144 TOTAL 897,140,405 897,738,144 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> TOTAL 988,861,604 991,740,026 ESTIMATED SOURCE OF FUNDS FOR OFFICE OF THE DEP COMMISSIONER FEDERAL FUNDS 900,901 945,946 GENERAL FUND 90,709,723 92,939,021 OTHER FUNDS 897,250,980 897,855,059 TOTAL 988,861,604 991,740,026

  10. How Big is the Budget? • Total $10.3 billion – 2 years • General Fund - $3.2B – 31% • Federal Funds - $2.98B – 29% • Education Fund - $1.8B – 17% • Other “Other Funds” - $1.6B – 15% • Highway Fund - $562M – 5.4% • Turnpike Fund - $155M – 1.5% • Fish and Game - $25M – 0.2%

  11. Spending Trends • How to Measure? • Over Twenty years: • General Fund – 5.1% annual • Biennial increase ave. 10.4% • GF + ETF 9 yr ave. – 3.5% • Inflation 20 yr – 3.0% • 1989 adjusted – 1,065,399

  12. How do we Balance? • Surplus Statement • Budget minus lapses (net approp.) • Unrestricted revenue • Fund balance plus ETF surplus • Two year total not each

  13. Rainy Day Fund • Revenue Stabilization Reserve Account • Surplus in, deficit out • When does it rain? RSA 9:13-E • Suspended last 2 budgets

  14. Other Funds • Highway • Constitution – gas tax • Gas – $137M (16 of 18) • Registrations $75M, other $37M • Where is the turnpike? • Highway Spending Cap • Fish and Game

  15. Is there a current deficit? • Revenue: $71.8 + $100 • Spending: Executive Orders • Lapses • School Construction • Revenue Changes • Balance 2008 v. 2009

  16. The New Legislature, 2009 • October 1, 2008 • Tentative Budget • Governor’s Address • Starting point: $300M?

  17. Information where? • Monthly Revenue and Historical (Administrative Services) • http://admin.state.nh.us/accounting/reports.asp • Budget Document (Legislative Budget Office – LBA) • http://www.gencourt.state.nh.us/lba/indexbudget.html

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