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

Governor's Budget Recommendation FY 2012

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Section 1A - Revenue by Source and Fund

SECTION 1A. In accordance with Articles LXIII and CVII of the Amendments to the Constitution and section 6D of chapter 29 of the General Laws, it is hereby declared that the amounts of revenue set forth in this section by source for the respective funds of the commonwealth for the fiscal year ending June 30, 2012 are necessary and sufficient to provide the means to defray the appropriations and expenditures from such funds for this fiscal year as set forth and authorized in sections 2, 2B and 2E. The comptroller shall keep a distinct account of actual receipts from each such source by each such fund to furnish the executive office for administration and finance and the house and senate committees on ways and means with quarterly statements comparing such receipts with the projected receipts set forth in this section and to include a full statement comparing such actual and projected receipts in the annual report for this fiscal year pursuant to section 13 of chapter 7A of the General Laws. The quarterly and annual reports shall also include detailed statements of any other sources of revenue for the budgeted funds in addition to those specified in this section.

Fiscal Year 2012 Revenue by Source Fund (in Millions)
Source All
Budgeted
Funds
General
Fund		 Commonwealth
Transportation
Fund
Workforce
Fund

Other *
Consensus Tax Revenue
Alcoholic Beverages 73.1 73.1 0.0 0.0 0.0
Cigarettes 445.6 445.6 0.0 0.0 0.0
Corporations 1,763.2 1,763.2 0.0 0.0 0.0
Deeds 120.6 120.6 0.0 0.0 0.0
Estate Inheritance 226.9 226.9 0.0 0.0 0.0
Financial Institutions 47.6 47.6 0.0 0.0 0.0
Income 11,577.8 11,577.8 0.0 0.0 0.0
Insurance 339.9 339.9 0.0 0.0 0.0
Motor Fuels 688.3 0.0 687.4 0.0 0.9
Public Utilities (0.6) (0.6) 0.0 0.0 0.0
Room Occupancy 119.4 77.6 0.0 0.0 41.8
Sales - Regular 3,574.9 3,354.7 220.2 0.0 0.0
Sales - Meals 848.4 796.1 52.3 0.0 0.0
Sales - Motor Vehicles 663.4 622.5 40.9 0.0 0.0
Miscellaneous 16.5 16.5 0.0 0.0 0.0
Unemployment Insurance Surcharges 19.9 0.0 0.0 19.9 0.0
Total Consensus Tax Revenues: 20,525.0 19,461.5 1,000.8 19.9 42.7
Transfer to School Modernization and Reconstruction Trust (SMART) Fund for School Building Authority (678.1) (678.1) 0.0 0.0 0.0
Transfer to MBTA State and Local Contribution Fund (779.6) (779.6) 0.0 0.0 0.0
Transfer to Pension Reserves Investment Trust Fund for Pension Contribution (1,478.0) (1,478.0) 0.0 0.0 0.0
Workforce Training Fund Adjustment ** (19.9) 0.0 0.0 (19.9) 0.0
Total Consensus Tax Revenues for Budget: 17,569.3 16,525.8 1,000.8 0.0 42.7
 
Revenue Initiatives
House 1 Tax Related Revenue Initatives 140.4 140.4 0.0 0.0 0.0
Subtotal of Tax Initiatives: 140.4 140.4 0.0 0.0 0.0
Total Taxes Available for Budget 17,709.7 16,666.2 1,000.8 0.0 42.7
 
Non-Tax Revenue
Federal Reimbursements 7,748.3 7,741.9 0.0 0.0 6.3
Departmental Revenues 2,964.2 2,422.8 525.1 0.0 16.3
Consolidated Transfers 1,934.6 2,145.3 0.0 0.0 (210.7)
Grand Total 30,356.8 28,976.2 1,525.9 0.0 (145.4)
* Includes tax revenues of 41.8 million into the Mass Tourism Fund, and 0.9 million into the Inland Fish and Game Fund.
** House 1 includes a reform to the funding structure of the Workforce Training Fund by funding the program through an "off-budget" trust fund. Tax revenues will be deposited directly into the new non budgetary trust fund and will not be subject to appropriation.
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