Mo Budget Forum 2010 Budget 2 5 10
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Mo Budget Forum 2010 Budget 2 5 10

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Overview of Missouri Governor's 2011 Budget Recommendation by Ronald J. Levy, Director, Missouri Department of Social Services for Nonprofit Services Center's Missouri Budget Forum

Overview of Missouri Governor's 2011 Budget Recommendation by Ronald J. Levy, Director, Missouri Department of Social Services for Nonprofit Services Center's Missouri Budget Forum

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Mo Budget Forum 2010 Budget 2 5 10 Mo Budget Forum 2010 Budget 2 5 10 Presentation Transcript

  • Missouri’s FY 2011 Governor Recommended Budget Overview
    Presentation to the Nonprofit Services Center  February 5, 2010
    Ronald J. Levy  DirectorMissouri Department of Social Services
    Nonprofit Summit
    Missouri Budget Forum
    2010 State Budget: Impact and Response
  • State Revenues
    • FY 2010 Original Consensus Revenue Estimate (CRE) was $7.76 billion
    • Revised CRE for FY 2010 is $6.97 billion
    • 6.4%declinefrom the FY 2009 actual net collections
    • Reduction of $793 million from prior year collections
    • FY 2011 CRE is $7.22 billion
    • 3.6% increase over revised CRE
    • Increase of $252.3 million
    • Below FY 2008 collections of $8 billion and FY 2009 collections of $7.45 billion
    Nonprofit Summit
    Missouri Budget Forum
    2010 State Budget: Impact and Response
  • State Revenues
    • Recession significantly impacted General Revenue collections
    • FY 2010 estimates of major revenue sources:
    • 5.3% decrease in Sales and Use Tax collections
    • 5.1% decrease in Individual Income Tax collections
    • 17.5% decrease in Corporate Income Tax collections
    • FY 2011 CRE assumes Missouri economy improves:
    • 2.7% increase inSales and Use Tax collections
    • 3.7% increasein Individual Income Tax collections
    • 19.2% increasein Corporate Income Tax collections
    Nonprofit Summit
    Missouri Budget Forum
    2010 State Budget: Impact and Response
  • General Revenue Growth Rates
    Fiscal Year
    FY2005
    FY 2006
    FY 2007
    FY 2008
    FY 2009
    FY 2010*
    FY 2011*
    % Growth
    5.8%
    9.2%
    5.2%
    3.7%
    -6.9%
    -6.4%
    3.6%
    Nonprofit Summit
    Missouri Budget Forum
    * Estimated
    2010 State Budget: Impact and Response
  • Recent Missouri General Revenue
    Nonprofit Summit
    Missouri Budget Forum
    2010 State Budget: Impact and Response
  • 6
  • Missouri’s FY2011
    Total Operating BudgetSource of Funds($23.9 Billion*)
    Nonprofit Summit
    Missouri Budget Forum
    2010 State Budget: Impact and Response
  • Governor’s Recommended Operating BudgetAll Funds(Total Appropriations $23.9 Billion*)
    Nonprofit Summit
    Missouri Budget Forum
    2010 State Budget: Impact and Response
  • FY 2011 Budget ReductionsGovernor’s Recommendation
    Actions Recommended to Balance the Budget:
    • 544 fewer positions
    • $253 million in General Revenue reductions
    • MO HealthNet ($121 million)
    • $27 million transfer from other state funds
    • $26 million DOR collection efficiencies
    Nonprofit Summit
    Missouri Budget Forum
    2010 State Budget: Impact and Response
  • Bringing It Together
    Revenue and Spending
    Status quo would lead to a “cliff” when the budget stabilization funds are gone