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Transcript of Illinois’
![Page 1: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/1.jpg)
![Page 2: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/2.jpg)
Illinois’Budget
![Page 3: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/3.jpg)
State fiscal year: July 1 — June 30
Appropriation: A legislatively-determined spending cap for a particular purpose
Illinois Budget Facts
![Page 4: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/4.jpg)
What is a Balanced Budget?
Revenues Expenditures
![Page 5: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/5.jpg)
What has Caused the State’s Financial Crisis?
Spending Growth Has Outpaced RevenuesHigher Level of AccountabilityRates of
Increase
Inflationary growth rate is 13.4%
General Revenues 11.2%
K-12 Education 18.5% Debt Service 34.4% Medicaid Liability 46.3% Pensions 52.3%
No pension holidays
No debt deferrals intofuture years
![Page 6: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/6.jpg)
• General Funds• Special State Funds• Federal Trust Funds
What Makes Up Illinois’Budget?
![Page 7: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/7.jpg)
9.9%
46%
44%
Special State Funds $14.8 billion
General Funds $15.5 billion
Federal Trust Funds $3.3 billion
TOTAL: $33.7 billion
How the State’s Budget Has Changed Over the Last 10 Years
Fiscal Year 1995
![Page 8: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/8.jpg)
8.5%
35.8%
55.7% Federal Trust Funds $5.7 billion
Special State Funds $36.8 billion
General Funds $23.6 billion
Fiscal Year 2005
TOTAL: $66.1 billion
How the State’s Budget Has Changed Over the Last 10 Years
![Page 9: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/9.jpg)
RevenueSRevenueS
![Page 10: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/10.jpg)
General Funds
35.8%
Fiscal Year 2005
General Taxes and Fees
Discretionary
Negotiated Spending
$23.7 billion
![Page 11: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/11.jpg)
Individual Income Tax
Corporate Income Tax
Sales Tax
Public Utility Taxes
Gaming Sources
Other Taxes
Other Transfers
Federal Sources
![Page 12: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/12.jpg)
Individual Income Tax
Corporate Income Tax
Sales Tax
Public Utility Taxes
Gaming Sources
Other Taxes
Other Transfers
Federal Sources
32%
![Page 13: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/13.jpg)
Individual Income Tax
• Flat tax rate: 3%
• First imposed: 1969 at 2.5%
• Permanently changed to 3% in 1989
• 10% of collections goes toward income tax refunds
• Of the remainder, 10% goes to local governments
![Page 14: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/14.jpg)
Individual Income Tax$ in millions
Fiscal Year
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
($ i
n M
illi
on
s)
Steep rise: late 1990s
Recession: 2002 and 2003
![Page 15: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/15.jpg)
Individual Income Tax
Corporate Income Tax Sales Tax
Public Utility Taxes
Gaming Sources
Other Taxes
Other Transfers
Federal Sources
5%
![Page 16: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/16.jpg)
Corporate Income Tax
• Flat tax rate: 4.8%
• First imposed: 1969 at 4%
• Permanently changed to 4.8% in 1989
• 24% of collections goes toward income tax refunds
Of the remainder, 10% goes to local governments
![Page 17: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/17.jpg)
$600
$700$800
$900
$1,000
$1,100$1,200
$1,300
$1,400
$1,500$1,600
$1,700
$1,800
Fiscal Year
Corporate IncomeTax$ in millions
Change to single sales factor
Decoupled from federal accelerated depreciation
![Page 18: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/18.jpg)
Individual Income Tax
Corporate Income Tax
Sales TaxPublic Utility Taxes
Gaming Sources
Other Taxes
Other Transfers
Federal Sources24%
![Page 19: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/19.jpg)
Sales TaxGoods taxed at 6.25%: 5% to state and 1.25% to local governments (services not taxed in Illinois)
Food & Drugs taxed at 1%: All goes to local governments (value of this exemption is $1.12 billion)
First enacted: 1933 at rate of 2%
Increased several times: 6.25% reached in 1990
After distributions: 72% of total collections are considered general revenues
![Page 20: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/20.jpg)
Sales Tax
Fiscal Year
$4,000
$4,500
$5,000
$5,500
$6,000
$6,500
$7,000
$ in millions
![Page 21: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/21.jpg)
Individual Income Tax
Corporate Income Tax
Sales Tax
Public Utility TaxesGaming Sources
Other Taxes
Other Transfers
Federal Sources4%
![Page 22: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/22.jpg)
Public Utility Taxes
• Electric Excise– Residential: up to 1/3¢ per kilowatt– Non-residential: 5.1%
• Telecommunications Excise– Tax rate: 7%– 1% for school construction
• Natural Gas Revenue– Tax rate: 5%
![Page 23: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/23.jpg)
Public Utility Taxes
Fiscal Year
$ in millions
Drop in land line phone use
![Page 24: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/24.jpg)
5%
Individual Income Tax
Corporate Income Tax
Sales Tax
Public Utility Taxes
Gaming Sources Other Taxes
Other Transfers
Federal Sources
![Page 25: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/25.jpg)
• First enacted: 1990 at flat rate of 20% of gross receipts
• Graduated tax rates since 1997. Current range: 15% to 70%
• Law allows 10 riverboat licenses. All 10 operational between 1991 and 1994 (1 closed in 1997 and remains inactive)
• 95% of collections are considered general revenues (Education Assistance Fund)
Gaming Sources• First authorized: 1974• 1/3 of sales goes to state general revenues (Education Assistance Fund)
• 38 other states have lotteries; Illinois ranks 8th in net receipts
Lottery
Riverboats
![Page 26: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/26.jpg)
Gaming Sources
Fiscal Year
$ in millions
Lottery
Riverboats
Tax rate increase and dockside gaming
Tax rate increase
![Page 27: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/27.jpg)
Individual Income Tax
Corporate Income Tax
Sales Tax
Public Utility Taxes
Gaming Sources
Other TaxesOther Transfers
Federal Sources
5%
![Page 28: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/28.jpg)
Cigarette Tax: 98¢ per pack
Estate Tax: Imposed on an estate in excess of $1.5 million before distribution to heirs
Insurance Tax: Vary by type of insurance sold
Franchise Taxes: Based on paid-in capital
Liquor Taxes: Per gallon basis; varies on type of liquor
Other Taxes
![Page 29: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/29.jpg)
Other Taxes
Fiscal Year
$ in millions
Estate
Insurance
Cigarette
Corporate Franchise
Liquor
![Page 30: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/30.jpg)
Individual Income Tax
Corporate Income Tax
Sales Tax
Public Utility Taxes
Gaming Sources
Other Taxes
Other TransfersFederal Sources
9%
![Page 31: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/31.jpg)
Other Transfers
Governor’s Initiatives– Administrative chargebacks– Fee transfers– Fund transfers
Intergovernmental Transfers – Cook County: Local aid for Medicaid costs– U of I: Aid for hospital services
![Page 32: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/32.jpg)
Other Transfers$ in
millions
Fiscal Year
Beginning of Governor Blagojevich’s administrative chargebacks, fund transfers, and fee increases
![Page 33: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/33.jpg)
Individual Income Tax
Corporate Income Tax
Sales Tax
Public Utility Taxes
Gaming Sources
Other Taxes
Other Transfers
Federal Sources
16%
![Page 34: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/34.jpg)
Federal Sources
• Reimbursements for state Medicaid spending
• Food stamp assistance
• Miscellaneous human services reimbursements
![Page 35: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/35.jpg)
Federal Sources
Fiscal Year
$ in millions
Temporary increase in federal reimbursement rate from 50% to 52.95%
![Page 36: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/36.jpg)
10-Year General Funds Total
$14,000
$16,000
$18,000
$20,000
$22,000
$24,000
$26,000
$28,000
$30,000
![Page 37: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/37.jpg)
ExpendituresExpenditures
![Page 38: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/38.jpg)
Types of State Spending
•Mandatory
•Priority
•Discretionary
![Page 39: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/39.jpg)
• Medicaid
• Debt Service
• Pensions
• Constitutional Mandates
Mandatory Spending
![Page 40: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/40.jpg)
MedicaidPrinciple factors driving Medicaid spending include:
Rate: amount paid for services provided (rates set by the state)
Population: number of people eligible for and enrolled in program
Utilization: amount of services used by enrollees
![Page 41: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/41.jpg)
MedicaidThe federal government mandates that all states provide basic healthcare for the following low-income individuals:
Elderly over age 65
Blind and Disabled
Children up to age 18
Pregnant Women
![Page 42: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/42.jpg)
Illinois provides and covers optional services and populations:
Note: FPL for a family of 3 is only $15,670 a year.
KidCare: offers healthcare coverage to children up to age 18 whose families make up to 185% of the Federal Poverty Level (FPL).
FamilyCare: offers healthcare coverage to parents of children enrolled in KidCare up to 133% of the FPL.
Dentistry, podiatry, and chiropractic services.
Prescription drug coverage: fastest growing portion of Medicaid budget.
Medicaid
![Page 43: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/43.jpg)
68%
30%
15%
43%
11%6% 24%
Children, Pregnant Women, and
Parents
Blind and Disabled
Elderly
SeniorCare 3%Persons Served Payments
Medicaid UtilizationFiscal Year
2003
![Page 44: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/44.jpg)
Medicaid Liability + 15
Fiscal Year
$ in millions
Medicaid costs have risen at an average rate of 8% since FY 99. At this rate, the program will double every 9 years.
![Page 45: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/45.jpg)
• Medicaid
• Debt Service
• Pensions
• Constitutional Mandates
Mandatory Spending
![Page 46: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/46.jpg)
Debt ServiceTypes of State Debt
• General Obligation: bonds issued are backed by full faith and credit of state. Debt service paid from general funds.
• Revenue: bonds issued for a particular purpose with a dedicated revenue stream.
![Page 47: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/47.jpg)
Debt Service
– General Obligation Bonds $9.6 billion• Anti-Pollution• Capital Development• Coal Development• School Construction
– Pension Obligation Bonds $10.0 billion
– Build Illinois Bonds (Revenue Bond) $2.1 billion
Unused debt service transfers to General Revenue Fund
![Page 48: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/48.jpg)
Debt Service Payments + 15$ in
millions
Fiscal Year
$10 billion in
Pension Obligation Bonds
![Page 49: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/49.jpg)
• Medicaid
• Debt Service
• Pensions
• Constitutional Mandates
Mandatory Spending
![Page 50: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/50.jpg)
The 5 State Pension Systems
• Teachers’ Retirement (not Chicago): 51%• State Employees’ Retirement: 32%• State Universities’ Retirement: 15%• Judges’ Retirement: 1.7%• General Assembly Retirement: 0.3%
Current Unfunded Liability = $35.1 billion
![Page 51: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/51.jpg)
Pension Funding2005 — 2045
Taxpayers will contribute $286.6 billion to the 5 pension systems.
• 40% will cover benefits paid; and
• 60% will make payments on past years’ unfunded liability
![Page 52: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/52.jpg)
Sta
te C
ontr
ibu
tion
s
Fiscal Year
Pensions + 15$ in millions
$2,609
$5,585
![Page 53: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/53.jpg)
• Medicaid
• Debt Service
• Pensions
• Constitutional Mandates
Mandatory Spending
![Page 54: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/54.jpg)
Court System $326 million
Constitutional Officers $253 million
General Assembly $68 million
Constitutional Mandates
Fiscal Year 2005
![Page 55: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/55.jpg)
Types of State Spending
•Mandatory
•Priority
•Discretionary
![Page 56: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/56.jpg)
Priority Spending
• Education
• Criminal Justice
• Human Services
![Page 57: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/57.jpg)
Higher Education vs. Tuition
Fiscal Year
![Page 58: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/58.jpg)
Elementary & Secondary Education
State Spending on Elementary & Secondary Education (Average of Past 5 Years)
Other Grants 5%
Mandated Categoricals
24%
Early Childhood 4%
Administrative 1%
General State Aid 66%
General State Aid and Mandated Categoricals combined make up 90% of state education spending
![Page 59: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/59.jpg)
Percent Change in Illinois K-12 Public Schools 1987—2003
Enrollment State Employment CPI (Inflation) Total Funding Growth
13.1%
157.8%
57%20.4%
2002-2003: Illinois ranked 11th in Nation for average expenditures per student in public K-12 schools. Source: NEA Rankings and Estimates 2004
Percent
![Page 60: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/60.jpg)
Priority Spending
• Education
• Criminal Justice
• Human Services
![Page 61: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/61.jpg)
Corrections Operations vs. Inmates
Fiscal Year
![Page 62: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/62.jpg)
Priority Spending
• Education
• Criminal Justice
• Human Services
![Page 63: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/63.jpg)
• Mental Health, Developmental Disabilities, & Substance Abuse
• Children & Family Services
• Child Care
• Assistance
• Rehabilitation Services
• Aging
• Public Health
• Other
Human Services — Fiscal Year 2005
$2,003.0
$780.9
$562.9
$417.1
$411.5
$308.1
$148.8
$120.9
$ in millions
Total: $4,753.2
![Page 64: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/64.jpg)
Types of State Spending
•Mandatory
•Priority
•Discretionary
![Page 65: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/65.jpg)
Discretionary Spending• Natural Resources
– state parks, conservation areas
• Commerce & Economic Opportunity– economic development, business grants
• Agriculture– food inspection, animal livestock
• Veterans’ Affairs– hospitals, veterans’ benefits
![Page 66: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/66.jpg)
Types of State Spending
•Mandatory
•Priority
•Discretionary
![Page 67: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/67.jpg)
Spending Priorities
13.5%
Discretionary $2.1 billion
58.5%
12.0%
29.5%24.8%
61.8%
Priority $13.9 billion
Mandatory $3.8 billion
Mandatory $7.0 billion
Priority $9.6 billion
Fiscal Year 2005Fiscal Year 1995
Discretionary $2.8 billion
![Page 68: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/68.jpg)
Revenues
State Sources $17,163 $17,892 $18,529
Federal Sources $3,940 $5,189 $4,688
Subtotal Revenues $21,103 $23,081 $23,217
Transfers
Transfers In $1,827 $2,109 $2,385
Pension Obligation Bonds $300 $1,489 $0
Subtotal Transfers $2,127 $3,598 $2,385
Short Term Borrowing $1,675 $0 $0
Total Cash Receipts $24,905 $26,679 $25,602
Appropriations $22,335 $23,483 $23,685
(Less Permanent Lapse) ($442) ($851) ($681)
Plus Transfers Out $2,741 $3,459 $2,598
Plus Rainy Day Transfer $0 $50 $0
Plus Accounts Payable from Previous Year $1,476 $1,266 $593
(Less Accounts Payable at End of Current Year) ($1,266) ($593) ($593)
Total Expenditures $24,844 $26,814 $25,602
Revenues vs. Expenditures $61 ($135) $0
General Fund BalanceE
xpen
dit
ure
sC
ash
Rec
eip
ts
FY 03 Actual
FY 04 Actual
FY 05 Est
![Page 69: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/69.jpg)
A L KAheadFiscal Year 2006
![Page 70: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/70.jpg)
Walk-up:
FY 2006
Budget Hole
Exp
end
itu
res
Cas
h R
ecei
pts
Revenues
State Sources $18,529
Federal Sources $4,688
Subtotal Revenues $23,217
Transfers
Transfers In $2,385
Pension Obligation Bonds $0
Subtotal Transfers $2,385
Short Term Borrowing $0
Total Cash Receipts $25,602
Appropriations $23,685
(Less Permanent Lapse) ($681)
Plus Transfers Out $2,598
Plus Rainy Day Transfer $0
Plus Accounts Payable from Previous Year $593
(Less Accounts Payable at End of Current Year) ($593)
Total Expenditures $25,602
Increase (Decrease) in End-of-Year Balance $0
FY 05 Estimated
![Page 71: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/71.jpg)
Revenues
State Sources $18,529
Corporate Tax Amnesty ($100)
Adjustment to Cigarette Tax ($50)
Federal Sources $4,688
Extra Federal Match ($25)
Subtotal Revenues $23,042
Transfers
Transfers In $2,385
Fund Transfers ($260)
Administrative Chargeback Change ($50)
Sale of Assets ($25)
Transfer Holiday ($10)
Subtotal Transfers $2,040
Short Term Borrowing $0
Total Cash Receipts $25,082
Appropriations $23,685
Medicaid $1,000
Pension Contributions $486
Annualize Nursing Home Rate $30
AFSCME Contract $28
(Less Permanent Lapse) ($681)
Plus Transfers Out $2,598
Plus Rainy Day Transfer $50
Plus Accounts Payable from Previous Year $593
(Less Accounts Payable at End of Current Year) ($593)
Total Expenditures $27,196
Increase (Decrease) in End-of-Year Balance ($2,114)
Walk-up:FY 2006 Budget Hole
ExpendituresCash Receipts
FY 06 Adjusted
![Page 72: Illinois’](https://reader035.fdocuments.us/reader035/viewer/2022070402/56813859550346895da0027d/html5/thumbnails/72.jpg)
Questions?