Budget Summary

<body leftmargin="0" topmargin="0" marginwidth="0" marginheight="0"> <table width="750" border="0" cellspacing="0" cellpadding="0"> <tr> <td height="60" colspan="9"><img src="/bb/fy2004h1/images/masthead_top.gif" alt="Budget Masthead" border="0" usemap="#masthead_topMap" width="750" height="60"></td> </tr> <tr> <td width="25" height="23" valign="top" bgcolor="#003366"><img src="/bb/fy2004h1/images/seal_bottom.gif" alt="" border="0" align="top" width="85" height="23"></td> <td width="236" height="23" bgcolor="#003366"> </td> <td width="101" height="23" bgcolor="#003366"><img src="/bb/fy2004h1/images/line_item.gif" alt="Line Item Search" width="118" height="23"></td> <form name="form1" method="get" action="/cgi-bin/eoaf/budget/fy04/budgetlisearchfy2004.cgi"> <td width="105" bgcolor="#003366"><input name="keywords" type="text" size="15"></td> <td width="30" bgcolor="#003366"><input type="image" name="go" src="/bb/fy2004h1/images/s_go.gif" border="0" alt="Search" width="25" 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class="nav">Executive Summary</td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/index.shtml">Highlights</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es2.shtml">Economic Conditions</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es3.shtml">Commonwealth's Fiscal Status</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es4.shtml">Core Principals</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es5.shtml">Assumptions</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es6.shtml">Budgetary Reforms</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es7.shtml">Workforce Reforms</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es8.shtml">Local Aid</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es9.shtml">Revenues</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2" height="14"> </td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es10.shtml">Capital Spending</a></td> </tr> <tr valign="top" bgcolor="#7F99B2" class="nav1"> <td width="15" bgcolor="#7F99B2"><img src="/bb/fy2004h1/images/arrow1.gif" width="15" height="15"></td> <td colspan="2" bgcolor="#7F99B2" height="14"><a target="_top" href="/bb/fy2004h1/execsumm/es11.shtml">2004 Budget Summary</a></td> </tr> <tr> <td colspan="3"><img src="/bb/fy2004h1/images/navdots_5.gif" border="0" alt="" width="190" height="1"></td> </tr> <tr> <td height="24"> </td> <td height="24" colspan="2" class="nav"><a href="/bb/fy2004h1/budget_recommendations/govarea">Budget Recommendations</a></td> </tr> <tr> <td colspan="3"><img src="/bb/fy2004h1/images/navdots_5.gif" border="0" alt="" width="190" height="1"></td> </tr> <tr> <td height="24"> </td> <td height="24" colspan="2" class="nav"><a href="/bb/fy2004h1/outsec">Outside Sections</a></td> </tr> <tr> <td colspan="3"><img src="/bb/fy2004h1/images/navdots_5.gif" border="0" alt="" width="190" height="1"></td> </tr> <tr> <td height="24"> </td> <td height="24" colspan="2" class="nav"><a href="/bb/fy2004h1/downloads">Downloads</a></td> </tr> <tr> <td colspan="3" bgcolor="#26517D"><img src="/bb/fy2004h1/images/navdots_5.gif" border="0" alt="" width="190" height="1"></td> </tr> <tr valign="top" class="nav2"> <td width="15" bgcolor="#26517D"> </td> <td width="10" bgcolor="#26517D"><img src="/bb/fy2004h1/images/spacer.gif" alt="" width="10" height="5"></td> <td width="165" bgcolor="#26517D"> </td> </tr> </table> </td> <td width="10" bgcolor="#FF9900"><img src="/bb/fy2004h1/images/spacer.gif" alt="" width="10" height="25"></td> </td><td> <table width="550" border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse" bordercolor="#111111"> <tr> <td width="425" bgcolor="#7F99B2"><h2>Executive Summary</h2></td> <td width="125" bgcolor="#7F99B2"> </td> </tr> <tr> <td height="24" bgcolor="#26517D"><h3>2004 Budget Summary</h3></td> <td bgcolor="#26517D"><div align="center"> <a href="/bb/fy2004h1/print/execsumm/es11-print.shtml" target="_top"><img border="0" src="/bb/fy2004h1/images/printer_friendly2.gif" width="97" height="23"></a></div></td> </tr> </table> <table width="550" border="0" cellspacing="0" cellpadding="0"> <tr> <td height="15" colspan="7"><img src="/bb/fy2004h1/images/spacer.gif" width="15" height="15"></td> </tr> <tr valign="top"> <td width="15"><img src="/bb/fy2004h1/images/spacer.gif" width="15" height="15"></td> <td width="100%"> <p align="left" class="body">If our state government were to continue to grow unchecked from FY03 to FY04, the Commonwealth’s spending would balloon from $22.4 billion to $24.4 billion. At that unsustainable growth rate of 8.6%, unsupported by projected revenue, our deficit is $3.2 billion. Since some spending is contingent on federal revenue, on a net basis the gap to close is $2.8 billion. </p> <p align="left" class="body">This budget constrains spending to $22.86 billion, a growth rate of just .5% after adjusting for certain spending moving on and off budget from FY03. A table illustrates this below:</p> <p align="left" class="body"><b>FY03 Spending vs. FY04 House 1: (millions)</b></p> <div align="left"> <table border=1 cellspacing=0 cellpadding=2 style="border-collapse: collapse" bordercolor="#26517D"> <tr> <td valign=bottom nowrap class="body" bgcolor="#26517D">  </td> <td valign=bottom nowrap class="body" align="right" bgcolor="#26517D"> <font color="#FFFFFF"><b>FY03 Projected<br> Spending</b></font></td> <td valign=bottom nowrap class="body" align="right" bgcolor="#26517D"> <font color="#FFFFFF"> <b>FY04 <br> House 1</b></font></td> <td valign=bottom nowrap class="body" align="right" bgcolor="#26517D"> <font color="#FFFFFF"><b>% <br> Change</b></font></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>Base Spending</p></td> <td valign=bottom nowrap class="body" align="right"> <p> 22,452 </p></td> <td valign=bottom nowrap class="body" align="right"> <p> 22,553 </p></td> <td valign=bottom nowrap class="body" align="right"> <p align=right style='text-align:right'><b>0.45%</b></p></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>On/off budget adjustments, net</p></td> <td valign=bottom nowrap class="body" align="right"> <p> 282 </p></td> <td valign=bottom nowrap class="body" align="right"> <p> 305 </p></td> <td valign=bottom nowrap class="body" align="right">  </td> </tr> <tr> <td valign=bottom nowrap class="body">  </td> <td valign=bottom nowrap class="body" align="right"> <p><b> 22,734 </b></p></td> <td valign=bottom nowrap class="body" align="right"> <p><b> 22,858 </b></p></td> <td valign=bottom nowrap class="body" align="right"> <p align=right style='text-align:right'><b>0.55%</b></p></td> </tr> </table> <p>While the budget as a whole is nearly flat, some areas, like Medicaid and debt service, are driven by factors beyond management control. As a result, other program funding must drop in order to maintain fiscal balance. </p> </div> <div align="left"> <table border=1 cellspacing=0 cellpadding=2 style="border-collapse: collapse" bordercolor="#26517D"> <tr> <td valign=bottom nowrap class="body" height="36" bgcolor="#26517D"> <font color="#FFFFFF">  </font> </td> <td valign=bottom class="body" height="36" bgcolor="#26517D"> <font color="#FFFFFF"><b>FY03 Projected <br> Spending</b></font></td> <td valign=bottom class="body" align="right" height="36" bgcolor="#26517D"> <font color="#FFFFFF"><b> FY04 <br> House 1 </b></font></td> <td valign=bottom class="body" align="right" height="36" bgcolor="#26517D"> <font color="#FFFFFF"><b>Variance</b></font></td> <td valign=bottom class="body" align="right" height="36" bgcolor="#26517D"> <font color="#FFFFFF"><b>% <br> Change</b></font></td> </tr> <tr> <td valign=bottom nowrap class="body" height="17"> <p>Medicaid</p></td> <td valign=bottom nowrap class="body" height="17"> <p> 5,968 </p></td> <td valign=bottom nowrap class="body" height="17"> <p> 6,502 </p></td> <td valign=bottom nowrap class="body" height="17"> <p> 534 </p></td> <td valign=bottom nowrap class="body" height="17"> <p align=right style='text-align:right'>8.9%</p></td> </tr> <tr> <td valign=bottom nowrap class="body" height="17"> <p>K-12 Education</p></td> <td valign=bottom nowrap class="body" height="17"> <p> 4,085 </p></td> <td valign=bottom nowrap class="body" height="17"> <p> 4,110 </p></td> <td valign=bottom nowrap class="body" height="17"> <p> 25 </p></td> <td valign=bottom nowrap class="body" height="17"> <p align=right style='text-align:right'>0.6%</p></td> </tr> <tr> <td valign=bottom nowrap class="body" height="11"> <p>Debt Service</p></td> <td valign=bottom nowrap class="body" height="11"> <p> 1,518 </p></td> <td valign=bottom nowrap class="body" height="11"> <p> 1,593 </p></td> <td valign=bottom nowrap class="body" height="11"> <p> 75 </p></td> <td valign=bottom nowrap class="body" height="11"> <p align=right style='text-align:right'>4.9%</p></td> </tr> <tr> <td valign=bottom nowrap class="body" height="18"> <p>Subtotal, all of the above</p></td> <td valign=bottom nowrap class="body" height="18"> <p><b> 11,571 </b></p></td> <td valign=bottom nowrap class="body" height="18"> <p><b> 12,205 </b></p></td> <td valign=bottom nowrap class="body" height="18"> <p> 634 </p></td> <td valign=bottom nowrap class="body" height="18"> <p align=right style='text-align:right'><b>5.5%</b></p></td> </tr> <tr> <td valign=bottom nowrap class="body" height="17"> <p>Subtotal, all other</p></td> <td valign=bottom nowrap class="body" height="17"> <p> 11,164 </p></td> <td valign=bottom nowrap class="body" height="17"> <p> 10,653 </p></td> <td valign=bottom nowrap class="body" height="17"> <p> (511)</p></td> <td valign=bottom nowrap class="body" height="17"> <p align=right style='text-align:right'>-4.6%</p></td> </tr> <tr> <td valign=bottom nowrap class="body" height="18"> <p>Total</p></td> <td valign=bottom nowrap class="body" height="18"> <p><b> 22,734 </b></p></td> <td valign=bottom nowrap class="body" height="18"> <p><b> 22,858 </b></p></td> <td valign=bottom nowrap class="body" height="18"> <p> 124 </p></td> <td valign=bottom nowrap class="body" height="18"> <p align=right style='text-align:right'><b>0.5%</b></p></td> </tr> </table> <p>The $2.8 billion in solutions breaks out across three major categories:</p> </div><div align="left"> <table border=1 cellspacing=0 cellpadding=2 style="border-collapse: collapse" bordercolor="#26517D"> <tr> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p> <font color="#FFFFFF"><b>FY04 $2.8B Solutions by type:</b></font></p></td> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <font color="#FFFFFF">  </font> </td> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <font color="#FFFFFF">  </font> </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>Program/Eligibility reductions</p></td> <td valign=bottom nowrap class="body"> <p> 272 </p></td> <td valign=bottom nowrap class="body"> <p align=right style='text-align:right'>10%</p></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>Local Aid</p></td> <td valign=bottom nowrap class="body"> <p> 350 </p></td> <td valign=bottom nowrap class="body"> <p align=right style='text-align:right'>12%</p></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>Reform and Restructuring</p></td> <td valign=bottom nowrap class="body"> <p> 2,173 </p></td> <td valign=bottom nowrap class="body"> <p align=right style='text-align:right'>78%</p></td> </tr> <tr> <td valign=bottom nowrap class="body">  </td> <td valign=bottom nowrap class="body"> <p><b> 2,795 </b></p></td> <td valign=bottom nowrap class="body"> <p align=right style='text-align:right'><b>100%</b></p></td> </tr> </table> <p><br> A detailed breakout of each of these categories follows:<font color="#FFFFFF"><br clear=all style='page-break-before:always'> </font></p> </div> <div align="left"> <table border=1 cellspacing=0 cellpadding=2 style="border-collapse: collapse" bordercolor="#26517D"> <tr> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p> <font color="#FFFFFF" size="3"><b> Reform and Restructuring</b></font></p></td> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <font color="#FFFFFF" face="Arial" size="3">  </font> </td> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p> <font color="#FFFFFF" size="3"><b> 2,173 </b></font></p></td> </tr> <tr> <td valign=bottom nowrap class="body" colspan="2" bgcolor="#FFFFCC"> <p> Health and Human Services<b><font face="Arial">  </font></b></p></td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p align="right"><b><font face="Arial">  </font> 425</b></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Health Care Reforms</p></td> <td valign=bottom nowrap class="body"> <p> 176 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>     Premiums and co-pays (19)</p></td> <td valign=bottom nowrap class="body">  </td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>     Drug Utilization and Case Management (87)</p></td> <td valign=bottom nowrap class="body">  </td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>     Tightening Eligibility Procedures (27)</p></td> <td valign=bottom nowrap class="body">  </td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>     Adjusting Rates (22)</p></td> <td valign=bottom nowrap class="body">  </td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p>     Long term care reform (21)</p></td> <td valign=bottom nowrap class="body">  </td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Administrative Consolidations and Restructuring</p></td> <td valign=bottom nowrap class="body"> <p> 90 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Maximizing federal revenue</p></td> <td valign=bottom nowrap class="body"> <p> 159 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p><b> Higher Education</b></p></td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"><b> <font face="Arial">  </font></b> </td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p align="right"><b><font face="Arial">  </font></b> 150 </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Administrative Consolidations and Restructuring</p></td> <td valign=bottom nowrap class="body"> <p> 100 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Restructuring tuition, fees and financial aid</p></td> <td valign=bottom nowrap class="body"> <p> 50 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p><b> Judiciary</b></p></td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"><b> <font face="Arial">  </font></b> </td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p align="right"><b><font face="Arial">  84</font></b></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Administrative Consolidations and Restructuring</p></td> <td valign=bottom nowrap class="body"> <p> 43 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Revenue incentives for Probation/Public Defenders</p></td> <td valign=bottom nowrap class="body"> <p> 41 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p><b> Asset Management</b></p></td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"><b> <font face="Arial">  </font></b> </td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p align="right"><b><font face="Arial">  </font> 371</b></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Mass. Turnpike debt restructuring and refinancing</p></td> <td valign=bottom nowrap class="body"> <p> 191 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Transfer of surplus land to pension fund</p></td> <td valign=bottom nowrap class="body"> <p> 180 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p><b> Tax Loopholes and Administrative Changes</b></p></td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"><b> <font face="Arial">  </font></b> </td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p align="right"><b><font face="Arial">  166</font></b></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Loophole closing</p></td> <td valign=bottom nowrap class="body"> <p> 128 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Changing interest rate from 4 to 2% above market</p></td> <td valign=bottom nowrap class="body"> <p> 28 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Changing valuation of used vehicles for sales tax</p></td> <td valign=bottom nowrap class="body"> <p> 10 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p><b> Management Reforms</b></p></td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"><b> <font face="Arial">  </font></b> </td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p align="right"><b><font face="Arial">  368</font></b></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Changing state employee health premiums to 25%</p></td> <td valign=bottom nowrap class="body"> <p> 80 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Eliminating refund for mandatory Medicare Part B</p></td> <td valign=bottom nowrap class="body"> <p> 25 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Workforce and other reforms</p></td> <td valign=bottom nowrap class="body"> <p> 263 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p><b> Revenue Restructuring</b></p></td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"><b> <font face="Arial">  </font></b> </td> <td valign=bottom nowrap class="body" bgcolor="#FFFFCC"> <p align="right"><b><font face="Arial">  </font>   610</b></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Transfers and other changes</p></td> <td valign=bottom nowrap class="body"> <p> 246 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Registry of Deeds fee restructuring</p></td> <td valign=bottom nowrap class="body"> <p> 230 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Casino mitigation</p></td> <td valign=bottom nowrap class="body"> <p> 75 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Fee Rationalization</p></td> <td valign=bottom nowrap class="body"> <p> 59 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body" colspan="3">    </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p><strong> <font color="#FFFFFF"> <font size="3">Local Aid </font> (Actual cut from FY03 spending is $232M)</font></strong></p></td> <td valign=bottom nowrap class="body" bgcolor="#26517D"><strong> <font face="Arial" size="3" color="#FFFFFF">  </font> </strong></td> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p><strong> <font size="3" color="#FFFFFF"> 350 </font> </strong></p></td> </tr> <tr> <td valign=bottom nowrap class="body" colspan="3">   </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p> <font color="#FFFFFF" size="3"><b> Program/Eligibility Reductions</b></font></p></td> <td valign=bottom nowrap class="body" bgcolor="#26517D"><b> <font color="#FFFFFF" face="Arial" size="3">  </font></b> </td> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p> <font color="#FFFFFF" size="3"><b> 272 </b></font></p></td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Suspend Prescription Advantage, pending federal action</p></td> <td valign=bottom nowrap class="body"> <p> 98 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body"> <p> Reductions from Governor's FY03 emergency actions</p></td> <td valign=bottom nowrap class="body"> <p> 174 </p></td> <td valign=bottom nowrap class="body">  </td> </tr> <td valign=bottom nowrap class="body">  </td> </tr> <tr> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p> <font color="#FFFFFF" size="3"><b> Grand Total, all FY04 deficit solutions</b></font></p></td> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <font color="#FFFFFF" face="Arial" size="3">  </font> </td> <td valign=bottom nowrap class="body" bgcolor="#26517D"> <p> <font color="#FFFFFF" size="3"><b> 2,795 </b></font></p></td> </tr> </table> </div>  <br> </div> <p align="left" class="body"> </p> <p align="left" class="body"><img src="/bb/fy2004h1/images/2002bs.gif" alt="Fiscal Year 2002 Financial Statement" width="540" height="753" border="0"></p> <p align="left" class="body"><img src="/bb/fy2004h1/images/2003bs.gif" alt="Fiscal Year 2003 Projected Financial Statement" width="540" height="783" border="0"></p> <p align="left" class="body"><img src="/bb/fy2004h1/images/2004bs.gif" alt="Fiscal Year 2004 Projected Financial Statement" width="540" height="735" border="0"></p> <p align="left" class="body"> </p> <div align="left"> <table width="90%" align="center"> <tr> <td width="48" align="left"><a target="_top" 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