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

Governor's Budget Recommendation FY 2013

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, 2013 are necessary and sufficient to provide the means to defray the appropriations and expenditures from such funds for this fiscal year as set forth and authorized in sections 2, 2B and 2E. The comptroller shall keep a distinct account of actual receipts from each such source by each such fund to 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 to include a full statement comparing such actual and projected receipts in the annual report for this fiscal year pursuant to section 13 of chapter 7A of the General Laws. The 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 2013 Revenue by Source Fund (in Millions)
Source All
Budgeted
Funds

General
Fund
Commonwealth
Transportation
Fund

Tourism
Fund


Other *
Consensus Tax Revenue
Alcoholic Beverages 77.1 77.1 0.0 0.0 0.0
Cigarettes 454.4 454.4 0.0 0.0 0.0
Corporations 1,836.5 1,836.5 0.0 0.0 0.0
Deeds 141.1 141.1 0.0 0.0 0.0
Estate Inheritance 246.5 246.5 0.0 0.0 0.0
Financial Institutions 112.7 112.7 0.0 0.0 0.0
Income 12,731.8 12,731.8 0.0 0.0 0.0
Insurance 335.4 335.4 0.0 0.0 0.0
Motor Fuels 678.7 0.0 677.8 0.0 0.9
Public Utilities (32.3) (32.3) 0.0 0.0 0.0
Room Occupancy 127.7 83.0 0.0 44.7 0.0
Sales - Regular 3,625.6 3,402.3 223.3 0.0 0.0
Sales - Meals 894.6 839.5 55.1 0.0 0.0
Sales - Motor Vehicles 683.2 641.1 42.1 0.0 0.0
Miscellaneous 16.8 16.8 0.0 0.0 0.0
Unemployment Insurance Surcharges 20.2 0.0 0.0 0.0 20.2
Total Consensus Tax Revenues: 21,950.0 20,885.9 998.3 44.7 21.1
Annual State Contribution to the State Pension System (1,552.0) (1,552.0) 0.0 0.0 0.0
Sales Tax Dedicated to the MBTA (786.8) (786.8) 0.0 0.0 0.0
Sales Tax Dedicated to the SBA (689.4) (689.4) 0.0 0.0 0.0
Workforce Training Trust Fund Transfer (20.2) 0.0 0.0 0.0 (20.2)
Total Consensus Tax Revenues for Budget: 18,901.6 17,857.7 998.3 44.7 0.9
 
Revenue Initiatives
House 2 Tax Related Revenue Initiatives 154.4 86.6 3.8 2.5 61.5
SBA Share of Tax Related Revenue Initiatives (9.8) 0.0 0.0 0.0 (9.8)
Subtotal of Tax Initiatives: 144.6 86.6 3.8 2.5 51.7
Total Taxes Available for Budget 19,046.2 17,944.3 1,002.1 47.2 52.6
 
Non-Tax Revenue
Federal Reimbursements 8,014.7 8,009.2 0.0 0.0 5.5
Departmental Revenues 3,210.6 2,665.7 528.4 0.0 16.5
Consolidated Transfers 1,765.9 2,083.6 0.0 0.0 (317.8)
State Retiree Benefits Trust Fund Portion of Tobacco Settlement Payment (27.6) (27.6) 0.0 0.0 0.0
Non-Tax Revenue Total 12,963.6 12,730.9 528.4 0.0 (295.8)
 
Grand Total 32,009.8 30,675.2 1,530.5 47.2 (243.2)
* Includes tax revenues of $51.7 million for the Commonwealth Health and Prevention Fund, $20.2 million for the Workforce Training Trust Fund and $0.9 million for the Inland Fisheries and Game Fund.

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