Governor Deval Patrick's Budget Recommendation - House 2 Fiscal Year 2013

Governor's Budget Recommendation FY 2013

Workforce Training Fund Balances


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Workforce Training Fund Balances (in millions)
The Workforce Training Fund, authorized in section 2RR of Chapter 29 of the General Laws and administered by the Executive Office of Labor and Workforce Development, provides employers with matching grants of up to $250,000 or more to help train new and incumbent workers. It was established in July 1998, and financed entirely by Massachusetts employers. In fiscal year 2011 the Fund was financed by an employer surcharge of .075% on employees' wages, paid concurrently with payments into the Unemployment Insurance Trust Fund. Annual state revenues from employer contributions total approximately $19 million, and state appropriations for training grants are continually rolled forward into future fiscal years to provide for multiple-year grant awards. House 1 includes a reform to the funding structure of the Workforce Training Fund by funding the program through an "off-budget" trust fund. This change will be responsive to private employers concerns that annual WTF contributions have been diverted in the past from job training initiatives and used for broader budget purposes.
 
FY11 FY12 FY13
Beginning Fund Balances 16.2 10.5 0.5
Taxes 20.4 0.0 0.0
Consolidated Transfers (3.8) 0.0 0.0
Total Revenues 16.6 0.0 0.0
Total Available 32.8 10.5 0.5
Labor & Workforce Development 19.3 9.7 0.0
Total Expenditures 19.3 9.7 0.0
Transfers to Other Funds 3.0 0.3 0.2
Ending Fund Balances 10.5 0.5 0.3

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