The 20102011 Budget - PowerPoint PPT Presentation

1 / 14
About This Presentation
Title:

The 20102011 Budget

Description:

96.8M Governor's estimate of spending cuts $16M proposed transfers ... 1,605.4M Budgeted GF Net Appropriations ($96.8M) Governor's estimate of spending cuts ... – PowerPoint PPT presentation

Number of Views:15
Avg rating:3.0/5.0
Slides: 15
Provided by: charliear
Category:
Tags: budget | governor

less

Transcript and Presenter's Notes

Title: The 20102011 Budget


1
The 2010-2011 Budget
  • A Problem of Historical Proportions

2
New Hampshire Operating Budget
3
2008 Operating Deficit
  • 61.7M surplus end of 2007
  • (37.7M) 2008 Operating Deficit
  • (6.8M) Budgeted Transfer to Highway Fund
  • 17.2M Final Balance

4
2008-09 Ending Deficit
  • 17.2M Starting balance
  • (11.9M) Budgeted Operating Deficit
  • (250M) Projected revenue shortfall
  • 40M Bonding of building aid
  • 96.8M Governors estimate of spending cuts
  • 16M proposed transfers
  • Current Deficit 91.9M

5
Unbalanced Budget Law
  • RSA 98-B
  • Each fund must be balanced
  • Expenditures for biennium balanced by
  • Estimated revenue
  • Money remaining from prior biennium
  • Bonding (debt) prohibited for operating
    expenditures

6
Rainy Day Fund
  • Revenue Stabilization Reserve Account
  • Surplus in, deficit out
  • When does it rain? RSA 913-E
  • Is Transfer Mandatory
  • Suspended last 2 budgets

7
Spending Baseline
  • 1,605.4M Budgeted GF Net Appropriations
  • (96.8M) Governors estimate of spending cuts
  • 6.2M University rebates dont change base
  • Baseline GF Spending 1,516 million
  • 2009 ETF 897.7M
  • Current Law 947M in 2010, 949M 2011

8
The Size of the Budget Hole 2010-2011
9
In Context
  • GF Spending held flat for two years only once in
    post-WWII period
  • 2009 Revenue equal to 2007 Spending
  • 1989 Spending inflation 1,065M
  • After cuts, 2009GF 20079

10
Spending Strategies
  • Hunt and Peck
  • Directed Management
  • 2007 Plus
  • 2009 Minus
  • Education
  • 10 of GF 151M

11
Revenues
  • Big New tax?
  • Raising Taxes in Recession
  • Enterprises
  • Sale of Assets
  • Dedicated Funds

12
A Word on Highways
  • Spending Caps
  • Shovel Ready
  • Grand Plans
  • Tolls v. taxes
  • More money

13
Dangers to Long term
  • Borrowing
  • School aid
  • Highway example
  • One-time transfers
  • Flexible grants
  • Reimbursement
  • Remainders
  • Cautious Estimates

14
Other Issues
  • Bond rating operating deficits
  • 2011 true balance
  • OPEB
  • ARC 50/207
  • 2.559B 2006
  • Retirement 2.519B before
Write a Comment
User Comments (0)
About PowerShow.com