Section 1A

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, 2021 are necessary and sufficient to provide the means to defray the appropriations 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 the fiscal year ending June 30, 2021 pursuant to subsection (a) of section 12 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 2021 Revenue by Source and Fund (in millions)

Source
All Budgeted Funds
General Fund
Commonwealth Transportation Fund
Other Major Funds 
Other Funds 
Fiscal 2021 Consensus Tax Revenue Estimate
31,151
27,562
1,359
92
2,138
Tax Transfers
(5,530)
(3,393)
0
0
(2,137)
Fiscal 2021 Consensus Tax Revenue Available for Budget
25,621
24,169
1,359
92
1
House 2 Tax Initiatives and Other Tax Revenue
311
311
0
0
0
Total Taxes Available for the Fiscal 2021 Budget
25,932
24,480
1,359
92
1
Non-Tax Revenue Total
19,344
17,960
817
238
328
Grand Total
45,276
42,440
2,176
330
330
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