Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2010

Governor's Budget Recommendation FY 2010

Section 1A - Revenue by Source and Fund


SECTION 1A. In accordance with Articles LXIII and CVII of the Amendments to the Constitution 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, 2010, are necessary and sufficient to provide the means to defray the appropriations and expenditures from such funds for that 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 in this section, and include a full statement comparing such actual and projected receipts in the annual report for that fiscal year pursuant to section 12 of chapter 7A of the General Laws. These 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 2010 Revenue by Source Fund (in Millions)
Source All
Budgeted
Funds *

General
Fund

Highway
Fund
Commonwealth
Wellness
Fund


Other **
Consensus Tax Revenue
Alcoholic Beverages 70.4 70.4 0.0 0.0 0.0
Cigarettes 485.6 485.6 0.0 0.0 0.0
Corporations 1,514.1 1,514.1 0.0 0.0 0.0
Deeds 117.0 117.0 0.0 0.0 0.0
Estate Inheritance 276.5 276.5 0.0 0.0 0.0
Financial Institutions 351.2 351.2 0.0 0.0 0.0
Income 11,432.0 11,432.0 0.0 0.0 0.0
Insurance 399.3 399.3 0.0 0.0 0.0
Motor Fuels 651.4 0.0 650.5 0.0 0.9
Public Utilities 72.3 72.3 0.0 0.0 0.0
Room Occupancy 115.1 74.8 0.0 0.0 40.3
Sales - Regular 2,883.0 2,883.0 0.0 0.0 0.0
Sales - Meals 649.0 649.0 0.0 0.0 0.0
Sales - Motor Vehicles 489.0 489.0 0.0 0.0 0.0
Miscellaneous 3.2 3.2 0.0 0.0 0.0
Unemployment Insurance Surcharges 20.9 0.0 0.0 0.0 20.9
Total Consensus Tax Revenues: 19,530.0 18,817.4 650.5 0.0 62.1
Transfer to School Modernization and Reconstruction Trust (SMART) Fund for School Building Authority (640.7) (640.7) 0.0 0.0 0.0
Transfer to MBTA State and Local Contribution Fund (767.1) (767.1) 0.0 0.0 0.0
Transfer to Pension Reserves Investment Trust Fund for Pension Contribution (1,376.6) (1,376.6) 0.0 0.0 0.0
Total Consensus Tax Revenues for Budget: 16,745.6 16,033.0 650.5 0.0 0.0
 
Revenue Initiatives
Additional Meals Tax Revenue 125.0 125.0 0.0 0.0 0.0
Additional Hotel/Motel Tax Revenue 24.2 24.2 0.0 0.0 0.0
Elimination of Alcohol Sales Tax Exemption 80.0 80.0 0.0 0.0 0.0
Elimination of Soda Sales Tax Exemption 50.0 50.0 0.0 0.0 0.0
Elimination of Candy Sales Tax Exemption 20.0 20.0 0.0 0.0 0.0
Annualized Value of Additional Auditors Hired in FY2009 26.0 26.0 0.0 0.0 0.0
Subtotal of Tax Initiatives: 325.2 325.2 0.0 0.0 0.0
SMART Fund Share from Elimination of Sales Tax Exemptions (29.0) (29.0) 0.0 0.0 0.0
Adjusted Transfer to SMART Fund (669.0) (669.0) 0.0 0.0 0.0
Total of Revenue Initiatives NET of SMART Fund Adjustment 296.2 296.2 0.0 0.0 62.1
 
Total Taxes Available for Budget 17,041.8 16,329.2 650.5 0.0 62.1
 
Non-Tax Revenue
Federal Reimbursements 7,522.2 7,516.2 0.8 0.0 5.1
Departmental Revenues 2,784.8 2,272.1 505.8 0.0 6.9
Consolidated Transfers 171.3 126.7 (74.8) 121.5 (2.1)
Grand Total 27,520.1 26,244.2 1,082.3 121.5 72.0
* Includes revenue deposited into the Workforce Training Fund, Mass Tourism Fund, Inland Fish and Game Fund, and Stabilization Fund.
** Includes tax revenues of 20.9 million into the Workforce Training Fund, 40.3 million into the Mass Tourism Fund, and 0.9 million into the Inland Fish and Game Fund.

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