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GENERAL
FUND STATUS |
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Based on all actions through the
close of the fiscal year ending June 30, 2008
1 |
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FY 08 |
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FY 09 |
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| AVAILABLE
FUNDS |
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| Transfers/Adjustments to
Balance: |
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2008-2009 Biennial Budget - PL 2007, c. 240 |
$7,948,193 |
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($5,650,904) |
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Other Legislation Enacted During 123rd Legislature, 1st
Regular Session |
$97,135 |
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$126,822 |
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Supplemental Budget (LD 2289, PL 2007, c. 539) |
$35,323,018 |
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$11,491,353 |
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Supplemental Budget - One-day borrowing from Other
Special Revenue |
$10,000,000 |
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($10,000,000) |
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Legislation Enacted During 123rd Legislature, 1st Special
Session |
$175,000 |
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$712,648 |
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Reserve Pursuant to 5 MRSA §1535 2 |
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Unbudgeted Lapsed Balances |
$8,127,801 |
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$0 |
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Other Accounting Adjustments |
$738,607 |
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$0 |
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Statutory Year-end Transfers |
($37,546,621) |
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$44,594,978 |
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Subtotal - Transfers/Adjustments to Balance |
$24,863,133 |
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$41,274,897 |
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| Undedicated
Revenue: |
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December
2006 Base Revenue Estimate |
$3,076,480,563 |
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$3,158,270,150 |
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March 2007 Revenue Revision |
($21,003,856) |
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($19,583,936) |
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May 2007 Revenue Revision |
$492,048 |
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$1,052,352 |
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December 2007
Revenue Revision |
($37,773,087) |
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($57,388,283) |
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March 2008 Revenue Revision |
($26,870,994) |
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($67,910,570) |
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EFY07 Budget - PL 2007, c. 1 |
$2,211,237 |
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$3,781,371 |
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2008-2009 Biennial Budget - PL 2007, c. 240 |
$47,278,615 |
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$49,655,465 |
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Legislation Enacted During 123rd Legislature, 1st Regular
Session |
$234,918 |
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$742,542 |
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Supplemental Budget (LD 2289, PL 2007, c. 539) |
$332,956 |
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$25,555,322 |
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Other Legislation Enacted During 123rd Legislature, 2nd
Regular Session |
$0 |
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$54,000 |
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Legislation Enacted During 123rd Legislature, 1st Special
Session |
($641,978) |
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$1,587,866 |
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Revenue Variances |
$47,078,570 |
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$0 |
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Subtotal - Undedicated Revenue |
$3,087,818,992 |
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$3,095,816,279 |
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| TOTAL
PROJECTED RESOURCES |
$3,112,682,125 |
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$3,137,091,176 |
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| APPROPRIATIONS |
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2008-2009 Biennial Budget - Baseline Budget |
$3,047,259,682 |
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$3,062,096,178 |
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2008-2009 Biennial Budget - Adjustments to Baseline
Budget |
$82,783,014 |
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$126,442,438 |
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Other Legislation Enacted During 123rd Legislature, 1st
Regular Session |
$454,641 |
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$350,722 |
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Supplemental Budget (LD 2289, PL 2007, c. 539) |
($19,537,339) |
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($98,534,999) |
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Other Legislation Enacted During 123rd Legislature, 2nd
Regular Session |
($40,000) |
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($40,000) |
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Legislation Enacted During 123rd Legislature, 1st Special
Session |
$7,000 |
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$1,742,927 |
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Adjustments to Appropriations - Statutory Year-end
Transfers |
$18,398,357 |
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$44,594,978 |
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| TOTAL
APPROPRIATIONS |
$3,129,325,355 |
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$3,136,652,244 |
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| NET CHANGE
(PROJECTED RESOURCES LESS APPROPRIATIONS) |
($16,643,230) |
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$438,932 |
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BEGINNING BALANCE 1 |
$17,578,341 |
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$935,111 |
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NET CHANGE (FROM ABOVE) |
($16,643,230) |
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$438,932 |
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ENDING BALANCE 1 |
$935,111 |
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$1,374,043 |
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| APPROPRIATION
LIMITS - BASED ON LD 1, PL 2005 c. 2 2 |
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FY07 Base Appropriation Limit Grown By 3.08% Growth
Factor |
$2,969,816,266 |
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$3,061,286,607 |
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General Purpose Aid for Local Schools Growth until 55%
achieved |
$237,421,764 |
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$249,000,915 |
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Total Appropriations Allowed by LD 1, PL 2005, c. 2
Appropriation Limit |
$3,207,238,030 |
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$3,310,287,522 |
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Total Appropriations (from Above) |
$3,129,325,355 |
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$3,136,652,244 |
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Amount that Appropriations are Above (Below) Limit |
($77,912,675) |
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($173,635,278) |
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| Notes: |
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| 1 |
Reflects all FY
08 closing transactions and all actions through the end of the 1st Special
Session of the 123rd Legislature, including revenue forecasts through the
March 2008 revenue revision. |
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| 2 |
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 3.08% for
the 2008-2009 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%. Originally scheduled to achieve
the 55% goal in FY09, PL 2007, c. 539 delays the attainment of the 55% state
share until FY10. 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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