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State of Idaho General Fund Revenue & Budget Update. July 30, 2008. June Revenues ($ millions). Product Taxes: cigarette, tobacco, beer, wine, and liquor. Miscellaneous: insurance premium, interest, unclaimed prop, dept transfers, etc. Cumulative through June ($ millions).
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State of IdahoGeneral Fund Revenue & BudgetUpdate July 30, 2008
June Revenues ($ millions) Product Taxes: cigarette, tobacco, beer, wine, and liquor. Miscellaneous: insurance premium, interest, unclaimed prop, dept transfers, etc.
Summary • June General Fund revenues are $7.1 million above the forecast. • Cumulative General Fund revenues through June are $47.8 million above the forecast. • Taking the cumulative collections into account results in an FY 2008 ending balance of $239.5 million. • Rolling that balance into FY 2009, with no compounding, leaves an estimated ending balance of $99.9 million or 3.4% of the $2,959.3 million budget.
Sine Die $268,786,200 2,862,030,000 209,000 3,131,025,200 (10,000,000) (60,000,000) (19,059,100) (2,000,000) (21,824,300) (10,000,000) (3,179,500) ($126,062,900) 2,820,674,400 21,511,900 14,290,900 (22,357,300) (6,123,000) $2,827,996,900 $176,965,400 Actual $268,786,200 2,909,847,700 0 3,178,633,900 (10,000,000) (60,000,000) (19,059,100) (5,300,000) (21,824,300) (10,000,000) (90,900) ($126,274,300) 2,820,674,400 21,511,900 14,290,900 (22,357,300) (21,297,300) $2,812,822,600 $239,537,000 Fiscal Year 2008 REVENUES: Beginning balance Revised Revenue 1.8%/Actual 3.5% H557 Crop Residue Burning TOTAL REVENUE & BEGINNING BALANCE TRANSFERS: Opportunity Scholarship Fund Economic Recovery Reserve Fund Budget Stabilization Fund Disaster Emergency Fund (EO 2008-02) Deficiency Warrants Revolving Development for Water Project All Other Transfers (cancel prior yr. encumbrances) TOTAL TRANSFERS APPROPRIATIONS: Original Reappropriations Supplementals Rescissions Reversions TOTAL APPROPRIATIONS Total Estimated Ending Balance
Sine Die $176,965,400 2,941,810,000 (22,300,000) (38,000,000) (6,130,000) (1,720,000 $3,050,625,400 (20,000,000) (10,000,000) (5,645,200) (1,800,000) (1,000,000) ($38,445,200) 2,869,432,600 89,850,800 0 $2,959,283,400 $52,896,800 Current Estimate $239,537,000 2,941,810,000 (22,300,000) (38,000,000) (6,130,000) (1,720,000 $3,113,197,000 (20,000,000) (10,000,000) (5,645,200) (1,800,000) (1,000,000) ($38,445,200) 2,869,432,600 89,850,800 15,611,400 $2,974,894,800 $99,857,000 Fiscal Year 2009 Summary REVENUES: Beginning balance FY 2009 Revenue Est. 2.8%/1.1% over Actual H588 Increase Grocery Tax Credit H615 Conform Economic Stimulus Package H673 Bond Levy Equalization Impacts of All Other Legislation TOTAL REVENUES TRANSFERS OUT: Water Board for Aquifer Mgmt Studies Opportunity Scholarship Fund Permanent Building Fund Water Storage Studies (HJM8) Community Health Center Grant Fund TOTAL TRANSFERS OUT APPROPRIATIONS: Ongoing One-Time Carryover One-Time TOTAL APPROPRIATIONS Total Estimated Ending Balance
Sine Die $3,012,180,200 $2,895,659,000 $28,962,000 23,172,500 11,479,800 23,629,200 5,995,000 8,831,100 (38,445,200) 63,624,400 $2,959,283,400 $52,896,800 15,349,400 37,547,400 $52,896,800 Current Estimate $3,074,751,800 $2,895,659,000 $28,962,000 23,172,500 11,479,800 23,629,200 5,995,000 8,831,100 (38,445,200) 63,624,400 15,611,400 $2,974,894,800 $99,857,400 62,309,600 37,547,400 $99,857,000 Fiscal Year 2009 Line Items (One-Time & Ongoing) REVENUES: TOTAL REVENUES less TRANSFERS TOTAL MAINTENANCE: LINE ITEMS: Education Health and Human Services Public Safety Natural Resources Economic Development General Government Revenue Transfers – Cash Adjustments TOTAL LINE ITEMS Carryover Appropriation FY08 to FY09 FY 2009 TOTAL Estimated Ending Balance Source: One-Time Revenue Source: Ongoing Revenue Total Ending Cash Balance
