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Wednesday, July 15, 2009

Pennsylvania House Democrats Budget, By the Numbers

As we have done with Gov. Rendell's proposed budget, the Senate passed budget, and the House GOP proposed budget amendment, here is a breakdown of the proposed Pennsylvania state budget from the House Democrats (PDF of the budget line items)

2008-09 Spending
Total State Spending: $26.7 Billion:

  • Enacted Budget: $28.3 billion
  • Less "Freezes" (cuts to actual spending): $500 million
  • Less Federal Stimulus Money (Medicaid): $1.1 billion
Funds Available: $25.2 Billion:
  • Tax Revenue: $24.3 billion ($25.5 billion less $1.2 billion in refunds)
  • Beginning Balance: $585 million
  • Prior Year Lapses (money unspent in 2007-08): $158 million
  • Oil and Gas Lease Fund: $143 million
Deficit: $1.5 Billion, made up with
  • Rainy Day Fund Transfer: $750 million
  • Health Care Provider Retention Account Transfer: $350 million
  • Tobacco Endowment Account Transfer: $150 million
  • Other Small Fund Transfers: $50 million
  • Carried over: $200 million
2009-10 Budget

Total State Spending: $26.6 Billion
  • General Fund Appropriations: $27.8 billion
  • Higher Education Fund: $1.3 billion
  • Less Federal Stimulus: $2.5 billion
Funds Available: $26.4 billion
  • Revenue: $26.6 billion
    • Zero-growth in tax collections: $24.3 billion ($25.5 billion less $1.2 billion in refunds)
    • Increase Capital Stock & Franchise Tax to 2.89 Mills, retroactive to Jan 1: $375 million
    • Redirect of Cigarette Tax from Health Care Provider Retention Account to General Fund: $190 million
    • Acceleration of Tax Payments as Proposed by Gov. Rendell: ~$480 million
    • Unnamed source of revenue for $1.3 billion higher education fund: $1.3 billion
  • Unpaid 08-09 Deficit: $200 million owed
As you can see, this still leaves about $200 million short of balanced, which could be a rounding error, a slightly different estimate, or perhaps (and I'm speculating here) an additional $200 million that would remain from Gov. Rendell's proposed $1.5 billion PIT increase, if that were the source for the $1.3 billion in higher education spending.

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