The proposed state budget for fiscal year 2012-13 totals $31.1 billion. Of this amount, $14 billion or 45 percent is from state appropriations (mostly state tax revenue collections); $ 12.3 billion or 40 percent is federal; and $4.8 billion or 15 percent is from fees (including higher educat…
Under the Governor's proposed budget for fiscal year 2012-13, total spending from all sources (state tax revenue, bonds, federal funds, and fees), will decrease from $31.93 billion to $31.077 billion, a net reduction of approximately $850 million or 2.7 percent. Most of the decrease comes f…
The Governor's budget proposes increasing the State's rainy day fund from an estimated level of $306 million on June 30, 2012, to $356 million on June 30, 2013, an increase of $50 million. Prior to the recession, the rainy day fund reached a peak of $750 million on June 30, 2008. It was dr…
The Governor's proposed budget directs significant resources to jobs and economic development initiatives. In the current year, it adds $34 million for business headquarters relocation assistance and $50 million for Fast Track…
The Governor's proposed budget for fiscal year 2012-13 notes that nominal revenue collections are just now returning to 2007 levels, before the Great Recession. But the cost of state services has continued to rise since 2007 due to inflation and population growth. When the numbers are adjus…