Based on our analysis, we project the closing, gross general fund balance at the end of thisbiennium to be -$143.2 million. This is $215.9 million below the $72.7 million balance that wasprojected at the time of preparation of the last general fund condition statement on October 17,2011. The $215.9 million is the net result of: (1) a revenue decrease of $4.5 million due toenactment of 2011 Act 49; (2) a $272.8 million decrease in estimated tax collections; (3) a $6.3million decrease in departmental revenues; (4) a $44.5 million decrease in sum sufficientappropriation expenditures; (5) a reduction of $20.0 million in compensation reserves; (6) areduction of $1.3 million in the transfer to the injured patients and families compensation fund;and (7) a $1.9 million increase in estimated lapses to the general fund.
Sunday, February 12, 2012
Walker budget: smoke and mirrors fail.
Posted by Mpeterson