Table 6. Preliminary FY 2006 Unobligated Balance Estimates |
|
State |
No |
Yes |
Millions of Dollars |
Percentage |
Comments |
|
Alabama |
|
x |
$221.0 |
14.0% |
|
|
Alaska |
|
x |
$1,400.0 |
53.0% |
|
|
Arizona |
|
x |
$610.0 |
8.1% |
|
|
Arkansas |
|
x |
$98.4 |
2.6% |
|
|
California |
|
x |
$7,551.0 |
8.5% |
|
|
Colorado |
|
x |
$114.4 |
1.8% |
|
|
Connecticut |
|
x |
$661.5 |
4.7% |
|
|
Delaware |
|
x |
$37.0 |
1.0% |
|
|
Florida |
|
x |
$1,531.5 |
13.1% |
|
|
Georgia |
|
x |
$725.0 |
4.4% |
The range is between $700 million and $750 million (4.2% to 4.5%). For the purposes of the table, the midpoint is used. |
|
Hawaii |
|
x |
$590.0 |
12.5% |
|
|
Idaho |
|
x |
$221.0 |
10.0% |
|
|
Illinois |
x |
|
|
|
|
|
Indiana |
x |
|
|
|
|
|
Iowa |
|
x |
$117.1 |
2.4% |
|
|
Kansas |
x |
|
|
|
|
|
Kentucky |
|
x |
$59.1 |
0.7% |
|
|
Louisiana |
|
x |
$402.0 |
5.0% |
As of the February 2006 fiscal status, no excess revenues exist. As of the March 2006 fiscal status (yet to be adopted), the Feb. 17 revenue revisions should result in a FY 2006 budget surplus. Targeted program expenditures likely will absorb these funds during the current fiscal year. |
|
Maine |
|
x |
$73.0 |
2.6% |
The amount reflects the estimated balance prior to the supplemental budget, which reduced it by $61 million to $12.1 million (0.4%). |
|
Maryland |
|
x |
$1,300.0 |
11.0% |
|
|
Massachusetts |
|
x |
N/R |
N/R |
|
|
Michigan |
|
x |
$80.0 |
1.0% |
|
|
Minnesota |
x |
|
|
|
Because the state budgets on a biennial basis, any revenue overage is not assigned to a single fiscal year. Although no amount is attributed to FY 2006 only, there are unexpected revenues of $88 million for the biennium (0.3% of the general fund budget). |
|
Mississippi |
|
x |
N/R |
N/R |
|
|
Missouri |
|
x |
N/R |
N/R |
|
|
Montana |
|
x |
$228.6 |
7.2% |
|
|
Nebraska |
|
x |
N/R |
N/R |
A conditional yes in that officials assess the surplus/deficit status biennially, thus the relevant point of evaluation is June 30, 2007. It is an amount relative to a minimum statutory ending balance (reserve) requirement. The current estimate for June 30, 2007, is an ending balance that is $114.5 million above the minimum, but action this session likely will reduce this. One could argue that one half of this amount is the "surplus” for FY 2006, but it would be an artificial estimate. |
|
Nevada (N/R) |
|
|
|
|
Any extra revenues in FY 2006 will be carried forward into FY 2007 and decisions will be made on use of those funds during the 2007 session, which begins in February 2007. |
|
New Hampshire |
|
x |
$40.0 |
3.0% |
|
|
New Jersey |
|
x |
$600.0 |
2.2% |
|
|
New Mexico |
|
x |
$527.0 |
N/R |
|
|
New York |
|
x |
$2,500.0 |
5.0% |
|
|
North Carolina |
|
x |
$575.0 |
3.4% |
|
|
North Dakota |
|
x |
$94.3 |
4.7% |
|
|
Ohio |
|
x |
N/R |
N/R |
Officials anticipate extra an unobligated balance based on current trends in revenues and expenditures. The size of the balance has not been estimated, and any plans for uses have not been made public. The projected general revenue fund (GRF) ending fund balance for FY 2006 is $447.3 million. The ending fund balance includes a carry-forward balance for FY 2007 and will be affected by any GRF expenditures or transfers authorized by the General Assembly or controlling board during the remainder of the fiscal year. |
|
Oklahoma |
|
x |
$386.9 |
7.1% |
|
|
Oregon |
|
x |
$785.0 |
6.8% |
Oregon budgets on a biennial basis. The state’s current revenue forecast projects a $785 million general fund ending balance for the 2006-07 biennium (ending June 30, 2007). The adopted budgeted had assumed a $115 million general fund ending balance. |
|
Pennsylvania |
|
x |
$272.0 |
1.1% |
|
|
Rhode Island |
|
x |
$14.2 |
0.5% |
|
|
South Carolina |
|
x |
$425.0 |
7.0% |
|
|
South Dakota |
|
x |
$142.9 |
13.5% |
The $142.9 million includes $38 million in one-time money from the sale of a state-owned railroad and reserves held in the Rainy Day Fund. |
|
Tennessee |
x |
|
|
|
|
|
Texas |
|
x |
$3,342.9 |
9.9% |
|
|
Utah |
|
x |
$460.0 |
11.3% |
|
|
Vermont |
|
x |
$9.7 |
0.9% |
|
|
Virginia |
|
x |
$1,400.0 |
9.5% |
|
|
Washington |
|
x |
$464.0 |
3.5% |
|
|
West Virginia |
x |
|
|
|
|
|
Wisconsin |
x |
|
|
|
Current estimates show the state ending FY 2006 with a balance of $11.3 million, which is less than one-tenth of 1 percent. |
|
Wyoming |
|
x |
$817.0 |
29.0% |
|
|
Total |
7 |
42 |
$28,876.5 |
|
|
N/R = No response (one state).
Source: National Conference of State Legislatures, March 2006. |
