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GENERAL
FUND STATUS |
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Reflect Final Fund Balance Status
through FY 07 Closing Transactions 1 |
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FY 06 |
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FY 07 |
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| AVAILABLE
FUNDS |
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| Transfers/Adjustments to
Balance: |
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Legislation Enacted During 122nd Legislature, 1st Regular
Session |
($11,339,286) |
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($60,526,470) |
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Legislation Enacted During 122nd Legislature, 1st Special
Session |
$59,682,918 |
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$33,959,682 |
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Legislation Enacted During 122nd Legislature, 2nd Regular
Session |
($53,349,168) |
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($4,442,989) |
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Legislation Enacted During 123rd Legislature, 1st Regular
Session |
$0 |
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$7,522,655 |
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Reserve Pursuant to 5 MRSA §1535 2 |
$0 |
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$0 |
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Unbudgeted Lapsed Balances |
$7,309,703 |
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$975,391 |
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Other Accounting Adjustments |
$7,558,984 |
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$3,472,169 |
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Statutory Year-end Transfers |
($88,956,269) |
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($19,135,375) |
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Subtotal - Transfers/Adjustments to Balance |
($79,093,118) |
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($38,174,937) |
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| Undedicated
Revenue: |
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December
2004 Base Revenue Estimate |
$2,719,127,178 |
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$2,828,629,922 |
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March 2005 Revenue Revision |
$4,518,518 |
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$13,559,873 |
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December 2005 Revenue Revision |
$112,125,896 |
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$52,295,464 |
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March 2006 Revenue Revision |
$1,889,771 |
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($16,173,721) |
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December 2006 Revenue Revision |
$0 |
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$86,417,340 |
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March 2007 Revenue Revision |
$0 |
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($33,736,442) |
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May 2007 Revenue Revision |
$0 |
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$17,787,281 |
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Legislation Enacted During 122nd Legislature, 1st Regular
Session |
($49,627,185) |
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($41,880,069) |
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Legislation Enacted During 122nd Legislature, 1st Special
Session |
$69,276,231 |
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$99,410,686 |
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Legislation Enacted During 122nd Legislature, 2nd Regular
Session |
$427,695 |
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($1,651,785) |
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Legislation Enacted During 123rd Legislature, 1st Regular
Session |
$0 |
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$249,025 |
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Revenue Variances |
$74,087,583 |
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$14,687,815 |
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Subtotal - Undedicated Revenue |
$2,931,825,687 |
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$3,019,595,389 |
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| TOTAL
PROJECTED RESOURCES |
$2,852,732,568
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$2,981,420,452
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| APPROPRIATIONS |
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Governor's Recommended Current Services Appropriations |
$3,038,859,383
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$3,210,743,852
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Other Appropriations Enacted During 122nd Legislature,
1st Regular Session |
($371,216,736) |
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($469,358,239) |
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Appropriations Enacted During 122nd Legislature, 1st
Special Session |
$150,095,478 |
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$127,768,250 |
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Legislation Enacted During 122nd Legislature, 2nd Regular
Session |
$54,140,488 |
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$48,524,582 |
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Legislation Enacted During 123rd Legislature, 1st Regular
Session |
$0 |
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$60,680,265 |
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| TOTAL
APPROPRIATIONS |
$2,871,878,613
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$2,978,358,710
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| NET CHANGE
(PROJECTED RESOURCES LESS APPROPRIATIONS) |
($19,146,045) |
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$3,061,742 |
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BEGINNING BALANCE 1 |
$33,662,644 |
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$14,516,599
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NET CHANGE (FROM ABOVE) |
($19,146,045) |
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$3,061,742 |
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ENDING BALANCE 1 |
$14,516,599 |
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$17,578,341 |
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| APPROPRIATION
LIMITS - BASED ON LD 1, PL 2005 c. 2 3 |
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FY05 Base Appropriation Grown By 3.11% Growth Factor |
$2,794,180,033 |
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$2,881,079,032 |
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General Purpose Aid for Local Schools Growth until 55%
achieved |
$101,579,345 |
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$179,561,601 |
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Total Appropriations Allowed by LD 1, PL 2005, c. 2
Appropriation Limit |
$2,895,759,378
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$3,060,640,633
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Total Appropriations (from Above) |
$2,871,878,613
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$2,978,358,710
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Amount that Appropriations are Above (Below) Limit |
($23,880,765) |
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($82,281,923) |
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| Notes: |
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| 1 |
Reflects actual
ending balances through the close of FY 07. |
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| 2 |
LD 1, PL 2005, c.
2, requires a transfer to the Budget Stabilization Fund equal to the amount
by which budgeted resources exceed the Appropriation Limit in a fiscal
year. Budgeted Resources are equal to
the beginning balance plus Total Projected Resources. This amount may change depending on
Legislative changes to budgeted resources.
This amount is calculated and transferred to the Budget Stabilization
Fund before other year-end transfers based on available unappropriated
surplus. Adjustments to budgeted
reserve included: |
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- December 2005
Revenue Forecast |
$41,667,536 |
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$0 |
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- March 2006
Revenue Forecast |
$1,889,771 |
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$0 |
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- Legislation
Enacted During 122nd Legislature, 2nd Regular Session |
($43,557,307) |
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$0 |
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Total -
Reserve Pursuant to 5 MRSA §1535 |
$0 |
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$0 |
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| 3 |
LD 1, PL 2005, c.
2, establishes an Appropriation Limitation based on total FY05 appropriations
multiplied by a growth factor that is average real personal income growth
(but no greater than 2.75%) plus average population growth. This percentage growth factor is 3.11% for
the 2006-2007 biennium. Appropriations
to General Purpose Aid for Local Schools (GPA) above FY05 GPA appropriations
are excluded from the limit until the State achieves a state share of 55% (by
FY09 based on PL 2005, c. 2). When the
state share of GPA appropriations reaches 55%, GPA appropriations will also
be subject to the percentage growth factor.
This percentage factor will change, if the State's tax burden is in
the middle 1/3 of states. |
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