Governor Deval Patrick's Budget Recommendation - House 2 Fiscal Year 2009

Governor's Budget Recommendation FY 2009

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 M.G.L. 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. The Workforce Training Fund is a state fund enacted into law in July 1998 and financed entirely by Massachusetts employers. The Workforce Training Fund in fiscal year 2007 was financed by an employer surcharge of $8.40 per employee, as part of their overall unemployment insurance contribution. The flat rate Workforce Training Contribution is 0.06% of the taxable wages in calendar year 2008. This payment, which is in addition to the Unemployment Insurance contribution payment, is deposited in the Workforce Training Fund which is used to award grants to companies to provide workforce training and education programs for incumbent workers. Annual state revenues from employer contributions total approximately $21 million, and state appropriations for competitive training grants are continually rolled forward into future fiscal years to provide for multiple-year grant awards.
FY07 FY08 FY09
Beginning Fund Balances 15.1 1.5 (21.3)
Taxes 21.4 22.0 21.0
Departmental Revenues 
   - Miscellaneous 0.1 0.0 0.0
Consolidated Transfers (0.5) (0.6) (0.6)
Total Revenues 21.0 21.4 20.4
Total Available 36.0 22.9 (0.9)
Labor & Workforce Development 34.5 44.2 21.0
Total Expenditures 34.5 44.2 21.0
Transfers to Other Funds 0.0 0.0 (21.9)
Ending Fund Balances 1.5 (21.3) 0.0

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