Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2012

Governor's Budget Recommendation FY 2012

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Workforce Training Fund Balances

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Workforce Training Fund Balances (in millions)
The Workforce Training Fund, authorized in section 2RR of Chapter 29 of the General Laws and administered by the Executive Office of Labor and Workforce Development, provides employers with matching grants of up to $250,000 or more to help train new and incumbent workers. It was established in July 1998, and financed entirely by Massachusetts employers. In fiscal year 2011 the Fund was financed by an employer surcharge of .075% on employees' wages, paid concurrently with payments into the Unemployment Insurance Trust Fund. Annual state revenues from employer contributions total approximately $19 million, and state appropriations for training grants are continually rolled forward into future fiscal years to provide for multiple-year grant awards. House 1 includes a reform to the funding structure of the Workforce Training Fund by funding the program through an "off-budget" trust fund. This change will be responsive to private employers concerns that annual WTF contributions have been diverted in the past from job training initiatives and used for broader budget purposes.
FY10 FY11 FY12
Beginning Fund Balances 11.1 5.0 0.0
Taxes 19.4 19.4 0.0
Consolidated Transfers (0.4) (0.4) 0.0
Total Revenues 19.0 19.0 0.0
Total Available 30.1 24.0 0.0
Labor & Workforce Development 14.0 31.0 0.0
Total Expenditures 14.0 31.0 0.0
Transfers to Other Funds 11.2 (7.0) 0.0
Ending Fund Balances 5.0 0.0 0.0

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