Terry Harless
WV Dept of Education
State Of West Virginia
General & Lottery Revenues
(in millions $)
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY17
Actual
Actual
Actual
Actual
Actual
Estimate
Estimate
Estimate
Estimate
Estimate
Personal Income Tax
1,519
1,558
1,447
1,593
1,689
1,722
1,795
1,898
1,992
2,072
Sales/Use Tax
1,110
1,110
1,096
1,148
1,216
1,197
1,199
1,230
1,272
1,315
Corporate Net Income
388
270
233
303
188
249
251
240
232
237
Severance Tax
338
360
400
441
468
462
446
472
480
476
All Others
573
604
582
579
542
520
528
543
555
557
Total 3,928
3,902
3,758
4,064
4,103
4,150
4,219
4,383
4,531
4,657
General
% Change
-0.7%
-3.7%
8.1%
1.0%
1.1%
1.7%
3.9%
3.4%
2.8%
Lottery
Racetrack Video
336
310
275
258
274
181
168
172
172
172
Limited Video
202
206
199
199
265
185
185
185
185
185
41
41
40
36
46
30
30
30
30
30
9
18
17
32
38
30
30
30
30
30
588
575
531
525
623
426
413
417
417
417
-2.2%
-7.7%
-1.1%
18.7%
-31.6%
-3.1%
1.0%
0.0%
0.0%
Traditional Games
Table Games
Total
% Change
Fiscal Year 2013
State of West Virginia
General & Lottery Revenues
% of
Department
General Revenue
Lottery Revenue
Legislative
$
$
Judicial
30,508,837
-
Total
$
Total
30,508,837
1%
122,320,952
-
122,320,952
3%
Executive
46,438,187
-
46,438,187
1%
Administration
74,268,025
38,061,000
112,329,025
2%
Commerce
68,380,575
16,162,349
84,542,924
2%
933,988,065
24,503,890
958,491,955
21%
Health & Human Resources
Public Education
Education & the Arts
Environment
2,008,976,139
67,611,626
2,076,587,765
46%
34,100,778
19,928,635
54,029,413
1%
8,343,286
0%
513,032,185
11%
359,542,290
8%
42,214,000
1%
8,343,286
Higher Education
456,143,441
Military Affairs & Public Safety
359,542,290
Revenue
30,214,000
56,888,744
12,000,000
Public Transportation
7,151,117
-
7,151,117
0%
Veterans' Assistance
11,592,375
-
11,592,375
0%
Senior Services
23,482,933
66,316,782
1%
1%
Misc. Bds & Commissions
Total
42,833,849
-
65,000,000
65,000,000
$ 4,215,451,000
$ 342,990,093
$ 4,558,441,093
100%
National Fiscal Concerns
Illinois - just 6 years from exhausting its pension fund.
(Illinois spends more on retired teachers $5.7B than on current students $4.6B)
•California - continues budget shortfalls even with tax increases.
(1.5 million more residents moved out of the state than moved into from 2000-2009)
•Nationwide Public Retirement Systems – The number of retirees is
growing 5 times faster than the number of working members.
•Federal Government borrows $3.6 Billion a day.
•Federal Government's accumulated debt is $16 TRILLION.
(debt per citizen $50,859, debt per taxpayer $139,939)
•European nations - financial troubles
growth in debt as % of GDP (2007-2011)
Germany 3.6%
Italy 18.6%
Spain 23.3%
Greece 71.2%
USA 34.6%
State of West Virginia
Major Funding Challenge
Medicaid
•Provides insurance coverage for 415,000 West Virginians (over 22%) (State's poorest &
most disabled)
•For every $1 the State invests, the Federal government matches about $3 (72.62%)
•State funding has increased from $334 million in 1995 to $820 million in 2012
•Federal funding has increased from $1 billion in 1995 to $2.2 billion in 2012
•Costs cannot be controlled with budget restrictions or caps
•Operates as an entitlement program - eligible if you meet the established criteria
•New Federal Health Care - effective 2014 - mandates coverage up to 133% FPL
FY14 General & Lottery Funds
Summary of Requested 7.5%
Budget Cuts
Department
Legislative
Judicial
$
Beginning
Excluded
Base
from
Budget
7.5% Cut
30,508,837
$
7.5% Cut
30,508,837
$
-
122,320,952
122,320,952
-
46,923,187
-
(3,519,239)
57,561,000
(4,107,602)
84,492,924
18,426,397
(4,954,990)
924,567,332
774,808,909
(11,231,882)
2,074,587,765
1,956,834,741
(8,831,477)
53,814,223
14,140,211
(2,975,551)
8,343,286
-
(625,746)
Higher Education
512,952,185
49,000,000
(34,796,414)
Military Affairs & Public Safety
356,542,290
246,102,746
(8,282,966)
42,214,000
12,000,000
(2,266,050)
Public Transportation
7,151,117
-
(536,334)
Veterans' Assistance
11,592,375
6,812,258
(358,509)
Senior Services
66,316,782
42,417,815
(1,792,423)
Misc. Bds & Commissions
65,000,000
Executive
Administration
Commerce
Health & Human Resources
Public Education
Education & the Arts
Environment
Revenue
Total
112,329,025
$ 4,519,656,280
65,000,000
-
$ 3,395,933,866
$ (84,279,181)
Rainy Day Funds
Balances at June 30
1995
Rainy Day
Rainy Day
Rainy Day
Part A
Part B
Total
$ 20,564,051
$
-
$ 20,564,051
1996
54,706,193
-
54,706,193
1997
57,370,043
-
57,370,043
1998
67,562,784
-
67,562,784
1999
64,580,523
-
64,580,523
2000
73,218,878
-
73,218,878
2001
79,085,244
-
79,085,244
2002
56,178,309
-
56,178,309
2003
57,750,613
-
57,750,613
2004
53,574,931
-
53,574,931
2005
79,302,478
-
79,302,478
2006
124,153,400
234,897,672
359,051,072
2007
235,075,887
279,869,088
514,944,975
2008
289,801,853
291,275,043
581,076,896
2009
236,619,573
236,006,003
472,625,576
2010
276,949,590
279,073,100
556,022,690
2011
342,320,538
316,806,578
659,127,116
2012
523,689,609
327,698,977
851,388,586
$ 551,698,131
$ 331,325,086
$ 883,023,217
Today
* 20.9% of General Revenue Total Appropriations
*
Six Year Financial Plan
Through FY17
General & Lottery Revenues
(in thousands $ as of 7/31/12)
Actual
Budgeted
Projected
Projected
Projected
Projected
2012
2013
2014
2015
2016
2017
$ 4,383,261
$ 4,531,291
$ 4,656,920
Estimated Revenue
General Revenue
$ 4,103,305
$ 4,149,751
$ 4,219,276
General Rev-Surplus fr Previous FY
231,093
67,500
-
-
-
-
Lottery
178,340
128,627
125,040
126,217
126,390
126,390
2,541
16,398
-
-
-
-
249,140
173,877
165,308
167,993
167,993
167,993
45,618
24,088
-
-
-
-
$ 4,810,037
$ 4,560,241
$ 4,677,471
$ 4,825,674
$ 4,951,303
$ 4,879,056
$ 5,077,579
$ 5,240,400
Lottery - Surplus fr Previous FY
Excess Lottery
Excess Lottery-Surplus fr Previous FY
Total Available
$ 4,509,624
Estimated Expenditures
Base Budget
$ 4,430,627
$ 4,519,656
Expenditure Growth:
Retirement Systems
571,956
(33,448)
41,900
2,000
2,000
2,000
Medicaid
399,889
26,174
181,692
95,630
41,599
44,482
PEIA
333,904
6,366
14,000
15,000
16,000
17,000
-
206
50,708
51,718
52,747
250
3,124,878
89,731
71,100
34,175
50,475
35,800
$ 4,430,627
$ 4,519,656
291,170
38,785
Salary Enhancements
All Other
Total Ongoing Base Budget
One-Time Expenditures & Adjustments
Estimated Balance (Gaps)
$
88,240
$
1,800
$ 4,879,056
54,580
$ (424,012)
$ 5,077,579
26,500
$ (426,608)
$ 5,240,400
5,000
$ (419,726)
$ 5,339,932
5,000
$ (393,629)