Financial Statements - Governor Romney's 2007 Budget Recommendation
FISCAL YEAR 2005
FINANCIAL STATEMENT |
| Budgeted Funds (in millions) |
| |
ALL
FUNDS |
GENERAL
FUND |
HIGHWAY
FUND |
STABIL.
FUND |
TRAN
ESCR
FUND |
OTHER
FUNDS |
| FISCAL YEAR 2005 BEGINNING BALANCES |
|
|
| Undesignated Fund Balance |
90.9 |
958.5 |
(716.5) |
0.0 |
0.0 |
(151.0) |
| Stabilization Fund Balance |
1,137.3 |
0.0 |
0.0 |
1,137.3 |
0.0 |
0.0 |
| Tax Reduction Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Reserved or Designated Fund Balance |
664.6 |
345.2 |
26.6 |
0.0 |
0.0 |
292.8 |
| | |
| SUBTOTAL, FISCAL YEAR 2005 BEGINNING BALANCES |
1,892.8 |
1,303.7 |
(690.0) |
1,137.3 |
0.0 |
141.8 |
| | |
| REVENUES AND OTHER SOURCES |
|
|
| Taxes |
15,987.4 |
15,267.9 |
586.5 |
4.0 |
0.0 |
129.0 |
| Federal Reimbursements |
4,696.9 |
4,389.6 |
1.5 |
0.0 |
0.0 |
305.8 |
| Departmental Revenue |
1,948.9 |
1,487.0 |
433.6 |
153.4 |
0.0 |
(125.1) |
| Consolidated Transfers |
1,740.3 |
878.1 |
(137.4) |
347.6 |
304.8 |
347.1 |
| | |
| SUBTOTAL, FISCAL YEAR 2005 REVENUES |
24,373.4 |
22,022.6 |
884.3 |
505.0 |
304.8 |
656.8 |
| | |
| TOTAL, FISCAL YEAR 2005 AVAILABLE RESOURCES |
26,266.3 |
23,326.3 |
194.3 |
1,642.3 |
304.8 |
798.5 |
| | |
| EXPENDITURES AND USES |
|
|
| Direct Appropriations |
23,278.2 |
21,148.4 |
1,061.8 |
(0.0) |
0.0 |
1,068.1 |
| Balances Forward for Continuing Appropriations |
368.1 |
345.2 |
0.4 |
0.0 |
0.0 |
22.4 |
| Authorized Spending from Retained Revenue |
522.9 |
520.4 |
2.5 |
0.0 |
0.0 |
0.0 |
| Lottery Distributions to Cities and Towns |
661.4 |
661.4 |
0.0 |
0.0 |
0.0 |
0.0 |
| Anticipated Reversions |
(723.1) |
(622.6) |
(45.9) |
0.0 |
0.0 |
(54.6) |
| Unspent Appropriations Continued to Fiscal Year 2006 |
(328.4) |
(302.5) |
(0.3) |
0.0 |
0.0 |
(25.6) |
| | |
| TOTAL, FISCAL YEAR 2005 EXPENDITURES |
23,779.1 |
21,750.3 |
1,018.5 |
(0.0) |
0.0 |
1,010.3 |
| | |
| END OF FISCAL YEAR RESERVED BALANCES |
|
|
| Reserved for Continuing Appropriations |
328.4 |
302.5 |
0.3 |
0.0 |
0.0 |
25.6 |
| Designated for Debt Service |
26.1 |
0.0 |
26.1 |
0.0 |
0.0 |
0.0 |
| Budgeted Inter-Fund Transfers |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Non-Budgeted Fund Transfers |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| | |
| FISCAL YEAR 2005 UNDESIGNATED FUND BALANCE |
2,132.6 |
1,273.5 |
(850.6) |
1,642.4 |
304.8 |
(237.4) |
| | |
| Balances Reserved in Other Budgeted Funds |
(1,960.6) |
0.0 |
0.0 |
1,642.4 |
304.8 |
13.4 |
| | |
| STATUTORY CARRY FORWARD TO FY2006 |
86.0 |
|
| | |
| STATUTORY TRANSFER TO STABILIZATION FUND |
86.0 |
|
| | |
| FISCAL YEAR 2005 SURPLUS |
0.0 |
|
| | |
| ADDITIONAL TRANSFER TO STABILIZATION FUND (includes $136.0m from Temporary Holding Fund) |
827.0 |
|
| | |
| TRANSFER TO TRANSITIONAL ESCROW FUND |
304.8 |
|
| | |
| FISCAL YEAR 2005 ENDING BALANCES |
|
|
| Undesignated Fund Balance |
404.2 |
1,187.4 |
(850.6) |
0.0 |
304.8 |
(237.4) |
| Stabilization Fund Balance |
1,728.4 |
0.0 |
0.0 |
1,728.4 |
0.0 |
0.0 |
| Tax Reduction Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Reserved or Designated Fund Balance |
354.6 |
302.5 |
26.4 |
0.0 |
0.0 |
25.6 |
| | |
| TOTALS, FISCAL YEAR 2005 ENDING BALANCES |
2,487.2 |
1,490.0 |
(824.2) |
1,728.4 |
304.8 |
(211.8) |
FISCAL YEAR 2006
PROJECTED FINANCIAL STATEMENT |
| Budgeted Funds (in millions) |
| |
ALL
FUNDS |
GENERAL
FUND |
HIGHWAY
FUND |
STABIL.
FUND |
OTHER
FUNDS |
| FISCAL YEAR 2006 BEGINNING BALANCES |
|
|
| Undesignated Fund Balance |
404.2 |
1,187.4 |
(850.6) |
0.0 |
67.4 |
| Stabilization Fund Balance |
1,728.4 |
0.0 |
0.0 |
1,728.4 |
0.0 |
| Tax Reduction Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Reserved or Designated Fund Balance |
354.6 |
302.5 |
26.4 |
0.0 |
25.6 |
| | |
| SUBTOTAL, FISCAL YEAR 2006 BEGINNING BALANCES |
2,487.2 |
1,490.0 |
(824.2) |
1,728.4 |
93.0 |
| | |
| REVENUES AND OTHER SOURCES |
|
|
| Taxes |
15,682.0 |
15,042.4 |
580.9 |
0.0 |
58.7 |
| Federal Reimbursements |
5,196.6 |
4,901.8 |
2.6 |
0.0 |
292.2 |
| Departmental Revenue |
2,084.1 |
1,608.9 |
426.3 |
40.0 |
8.9 |
| Consolidated Transfers |
1,399.1 |
1,502.3 |
(49.0) |
(114.0) |
59.7 |
| | |
| SUBTOTAL, FISCAL YEAR 2006 REVENUES |
24,361.8 |
23,055.4 |
960.8 |
(74.0) |
419.6 |
| | |
| TOTAL, FISCAL YEAR 2006 AVAILABLE RESOURCES |
26,849.0 |
24,545.4 |
136.6 |
1,654.4 |
512.6 |
| | |
| EXPENDITURES AND USES |
|
|
| Direct Appropriations |
22,800.8 |
21,344.3 |
900.9 |
0.0 |
555.6 |
| Balances Forward for Continuing Appropriations |
328.4 |
302.5 |
0.3 |
0.0 |
25.6 |
| Authorized Spending from Retained Revenue |
503.2 |
492.6 |
10.6 |
0.0 |
0.0 |
| Lottery Distributions to Cities and Towns |
761.4 |
761.4 |
0.0 |
0.0 |
0.0 |
| Contingency Reserve |
310.3 |
259.4 |
9.4 |
0.0 |
41.5 |
| Anticipated Reversions |
(637.8) |
(597.7) |
(23.9) |
0.0 |
(16.2) |
| | |
| TOTAL, FISCAL YEAR 2006 EXPENDITURES |
24,066.3 |
22,562.5 |
897.2 |
0.0 |
606.5 |
| | |
| END OF FISCAL YEAR RESERVED BALANCES |
|
|
| Reserved for Continuing Appropriations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Designated for Debt Service |
26.1 |
0.0 |
26.1 |
0.0 |
0.0 |
| Budgeted Inter-Fund Transfers |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Non-Budgeted Fund Transfers |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| | |
| FISCAL YEAR 2006 UNDESIGNATED FUND BALANCE |
2,756.6 |
1,982.9 |
(786.8) |
1,654.4 |
(93.9) |
| | |
| Balances Reserved in Other Budgeted Funds |
(2,030.9) |
0.0 |
0.0 |
1,654.4 |
376.5 |
| | |
| STATUTORY CARRY FORWARD TO FY2007 |
90.8 |
|
| | |
| STATUTORY TRANSFER TO STABILIZATION FUND |
90.8 |
|
| | |
| FISCAL YEAR 2006 SURPLUS |
544.1 |
|
| | |
| FISCAL YEAR 2006 ENDING BALANCES |
|
|
| Undesignated Fund Balance |
102.8 |
885.5 |
(786.8) |
0.0 |
4.2 |
| Stabilization Fund Balance |
2,653.8 |
0.0 |
0.0 |
2,653.8 |
0.0 |
| Tax Reduction Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Reserved or Designated Fund Balance |
26.1 |
0.0 |
26.1 |
0.0 |
0.0 |
| | |
| TOTALS, FISCAL YEAR 2006 ENDING BALANCES |
2,782.7 |
885.5 |
(760.7) |
2,653.8 |
4.2 |
FISCAL YEAR 2007
PROJECTED FINANCIAL STATEMENT |
| Budgeted Funds (in millions) |
| |
ALL
FUNDS |
GENERAL
FUND |
HIGHWAY
FUND |
STABIL.
FUND |
OTHER
FUNDS |
| FISCAL YEAR 2007 BEGINNING BALANCES |
|
|
| Undesignated Fund Balance |
102.8 |
885.5 |
(786.8) |
0.0 |
4.2 |
| Stabilization Fund Balance |
2,653.8 |
0.0 |
0.0 |
2,653.8 |
0.0 |
| Tax Reduction Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Reserved or Designated Fund Balance |
26.1 |
0.0 |
26.1 |
0.0 |
0.0 |
| | |
| SUBTOTAL, FISCAL YEAR 2007 BEGINNING BALANCES |
2,782.7 |
885.5 |
(760.7) |
2,653.8 |
4.2 |
| | |
| REVENUES AND OTHER SOURCES |
|
|
| Taxes |
16,201.3 |
15,555.3 |
586.0 |
0.0 |
60.0 |
| Federal Reimbursements |
5,263.5 |
5,258.7 |
2.6 |
0.0 |
2.2 |
| Departmental Revenue |
2,044.1 |
1,574.9 |
432.5 |
30.0 |
6.7 |
| Consolidated Transfers |
1,661.2 |
1,758.9 |
(37.3) |
(60.5) |
0.1 |
| | |
| SUBTOTAL, FISCAL YEAR 2007 REVENUES |
25,170.1 |
24,147.9 |
983.8 |
(30.5) |
69.0 |
| | |
| TOTAL, FISCAL YEAR 2007 AVAILABLE RESOURCES |
27,952.8 |
25,033.4 |
223.1 |
2,623.3 |
73.1 |
| | |
| EXPENDITURES AND USES |
|
|
| Direct Appropriations |
23,823.8 |
22,820.9 |
948.3 |
0.0 |
54.6 |
| Balances Forward for Continuing Appropriations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Authorized Spending from Retained Revenue |
442.9 |
432.3 |
10.6 |
0.0 |
0.0 |
| Lottery Distributions to Cities and Towns |
920.0 |
920.0 |
0.0 |
0.0 |
0.0 |
| Contingency Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Anticipated Reversions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| | |
| TOTAL, FISCAL YEAR 2007 EXPENDITURES |
25,186.7 |
24,173.2 |
958.9 |
0.0 |
54.6 |
| | |
| END OF FISCAL YEAR RESERVED BALANCES |
|
|
| Reserved for Continuing Appropriations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Designated for Debt Service |
26.1 |
0.0 |
26.1 |
0.0 |
0.0 |
| Budgeted Inter-Fund Transfers |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Non-Budgeted Fund Transfers |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| | |
| FISCAL YEAR 2007 UNDESIGNATED FUND BALANCE |
2,740.0 |
860.2 |
(762.0) |
2,623.3 |
18.5 |
| | |
| Balances Reserved in Other Budgeted Funds |
(2,634.4) |
0.0 |
0.0 |
2,623.3 |
11.2 |
| | |
| STATUTORY CARRY FORWARD TO FY2008 |
94.2 |
|
| | |
| FISCAL YEAR 2007 SURPLUS |
11.3 |
|
| | |
| FISCAL YEAR 2007 ENDING BALANCES |
|
|
| Undesignated Fund Balance |
105.4 |
849.1 |
(762.0) |
0.0 |
18.3 |
| Stabilization Fund Balance |
2,634.6 |
0.0 |
0.0 |
2,634.6 |
0.0 |
| Tax Reduction Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Reserved or Designated Fund Balance |
26.1 |
0.0 |
26.1 |
0.0 |
0.0 |
| | |
| TOTALS, FISCAL YEAR 2007 ENDING BALANCES |
2,766.1 |
849.1 |
(735.8) |
2,634.6 |
18.3 |
| | |
|