1 / 9

Virginia’s Budget

Explore the allocation of Virginia's budget for 2018-2020, highlighting the distribution of funds between the General Fund and Nongeneral Fund. Discover how these funds support various government programs, including higher education and transportation. Gain insights into the factors influencing budget development.

jshrum
Download Presentation

Virginia’s Budget

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Virginia’s Budget Virginia Department of Planning and Budget (DPB)

  2. 2018-2020 Budget: Nongeneral fund vs. General fund The General Fund (36.8%) From income and sales taxes paid by citizens and businesses Can be used for a variety of government programs Governor and General Assembly have the most discretion Nongeneral Funds (63.2%) Receipts set aside for specific purposes: motor vehicle and gas taxes for transportation programs student tuition and fees for higher education federal grants for specific activities General Fund 36.8% Nongeneral Funds 63.2%

  3. Where the operating money goes-General Fund 2018-2020

  4. Budgetary authorization for higher education involves several major programs • Educational and General (E&G) • General fund (GF) and nongeneral fund (NGF) sources (tuition and fee revenue) • Student Financial Assistance • General fund and nongeneral fund (federal assistance and tuition revenue) • Sponsored Programs (Research) • General fund and nongeneral fund (federal and private grants) • Institution specific initiatives • Auxiliary Enterprises • Nongeneral fund only (self-supporting activities such as residential facilities, dining halls, and parking)

  5. Support for educational and general is a shared cost Source: SCHEV

  6. Both E&G support and FTE students have grown Notes: Data includes E&G appropriation for 17 institutions, VIMS and extension services. FY 2010-11 includes SFSF appropriation.

  7. Average Funding per FTE Student at Four-Year Institutions (in 2016-17 Constant Dollars)

  8. Increases in tuition is one of the few statefunding issues that surpasses inflation…

  9. Many factors and perspectives influence budget development: Changes in laws and regulations Traditional practices Increase in number of clients Priorities of the Governor Priorities of the General Assembly Public sentiment Increases/Decreases in federal funds

More Related