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Budget Recommendations

Section 1A - Revenue by Source and Fund

Section 1A - Revenue by Source and Fund
 
 
SECTION 1A. In accordance with Articles LXIII and CVII of the Articles of Amendment to the Constitution of the Commonwealth and section 6D of chapter 29 of the General Laws, it is hereby declared that the amounts of revenue set forth in this section by source for the respective funds of the commonwealth for the fiscal year ending June 30, 2007, are necessary and sufficient to provide the means to defray the appropriations and expenditures from such funds for said fiscal year as set forth and authorized in section 2. The comptroller shall keep a distinct account of actual receipts from each such source by each such fund, furnish the executive office for administration and finance and the house and senate committees on ways and means with quarterly statements comparing such receipts with the projected receipts set forth herein, and include a full statement comparing such actual and projected receipts in the annual report for said fiscal year pursuant to section 12 of chapter 7A of the General Laws; provided, that such quarterly and annual reports shall also include detailed statements of any other sources of revenue for the budgeted funds in addition to those specified in this section.
 
Fiscal Year 2007 Revenue by Source and Budgeted Fund (in Millions)
 
Source All
Budgeted
Funds *
General
Fund
Highway
Fund
SMART MBTA

Tax Revenue
Alcoholic Beverages 70.3 70.3 0.0 0.0 0.0
Cigarettes 416.3 416.3 0.0 0.0 0.0
Corporations 1,257.9 1,257.9 0.0 0.0 0.0
Deeds 210.1 210.1 0.0 0.0 0.0
Estate 221.1 221.1 0.0 0.0 0.0
Financial Institutions 338.9 338.9 0.0 0.0 0.0
Income 10,823.2 10,823.2 0.0 0.0 0.0
Insurance 421.1 421.1 0.0 0.0 0.0
Motor Fuels 685.2 98.4 586.0 0.0 0.0
Public Utilities 113.3 113.3 0.0 0.0 0.0
Room Occupancy 107.8 70.1 0.0 0.0 0.0
Sales-Regular 3,070.8 1,977.6 0.0 479.0 614.2
Sales-Meals 614.6 614.6 0.0 0.0 0.0
Sales-Motor Vehicles 599.2 385.9 0.0 93.5 119.8
Miscellaneous 3.7 3.7 0.0 0.0 0.0
UI Surcharges 21.4 0.0 0.0 0.0 0.0
Total Taxes 18,975.0 17,022.5 586.0 572.5 734.0

 
Tax Reduction Act of 2006

Personal Income Tax Reduction to 5.15% -132.0 -132.0 0.0 0.0 0.0

Total Taxes 18,843.0 16,890.5 586.0 572.5 734.0

SBAB Transfer -572.5 0.0 0.0 -572.5 0.0
MBTA Transfer -734.0 0.0 0.0 0.0 -734.0
Pension Transfer -1,335.2 -1,335.2 0.0 0.0 0.0
Total Taxes for Budget 16,201.3 15,555.3 586.0 0.0 0.0

 
Non-Tax Revenue

Federal Reimbursements 5,263.5 5,258.7 2.6 0.0 0.0
Departmental Revenues 2,044.1 1,574.9 432.5 0.0 0.0
Consolidated Transfers 1,661.2 1,758.9 -37.3 0.0 0.0
GRAND TOTAL 25,170.1 24,147.8 983.8 0.0 0.0

* Includes revenue deposited into the Workforce Training Fund, Mass Tourism Fund, Inland Fish and Game Fund, and Stabilization Fund.