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

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Mo Budget Forum 2010 Budget 2 5 10

  1. 1. Missouri’s FY 2011 Governor Recommended Budget Overview<br />Presentation to the Nonprofit Services Center  February 5, 2010<br />Ronald J. Levy  DirectorMissouri Department of Social Services<br />Nonprofit Summit<br />Missouri Budget Forum<br />2010 State Budget: Impact and Response<br />
  2. 2. State Revenues<br /><ul><li>FY 2010 Original Consensus Revenue Estimate (CRE) was $7.76 billion
  3. 3. Revised CRE for FY 2010 is $6.97 billion
  4. 4. 6.4%declinefrom the FY 2009 actual net collections
  5. 5. Reduction of $793 million from prior year collections
  6. 6. FY 2011 CRE is $7.22 billion
  7. 7. 3.6% increase over revised CRE
  8. 8. Increase of $252.3 million
  9. 9. Below FY 2008 collections of $8 billion and FY 2009 collections of $7.45 billion </li></ul>Nonprofit Summit<br />Missouri Budget Forum<br />2010 State Budget: Impact and Response<br />
  10. 10. State Revenues<br /><ul><li>Recession significantly impacted General Revenue collections
  11. 11. FY 2010 estimates of major revenue sources:
  12. 12. 5.3% decrease in Sales and Use Tax collections
  13. 13. 5.1% decrease in Individual Income Tax collections
  14. 14. 17.5% decrease in Corporate Income Tax collections
  15. 15. FY 2011 CRE assumes Missouri economy improves:
  16. 16. 2.7% increase inSales and Use Tax collections
  17. 17. 3.7% increasein Individual Income Tax collections
  18. 18. 19.2% increasein Corporate Income Tax collections</li></ul>Nonprofit Summit<br />Missouri Budget Forum<br />2010 State Budget: Impact and Response<br />
  19. 19. General Revenue Growth Rates<br />Fiscal Year<br />FY2005<br />FY 2006<br />FY 2007<br />FY 2008<br />FY 2009<br />FY 2010*<br />FY 2011*<br />% Growth<br />5.8%<br />9.2%<br />5.2%<br />3.7%<br />-6.9%<br />-6.4%<br />3.6%<br />Nonprofit Summit<br />Missouri Budget Forum<br />* Estimated<br />2010 State Budget: Impact and Response<br />
  20. 20. Recent Missouri General Revenue<br />Nonprofit Summit<br />Missouri Budget Forum<br />2010 State Budget: Impact and Response<br />
  21. 21. 6<br />
  22. 22. Missouri’s FY2011 <br />Total Operating BudgetSource of Funds($23.9 Billion*)<br />Nonprofit Summit<br />Missouri Budget Forum<br />2010 State Budget: Impact and Response<br />
  23. 23. Governor’s Recommended Operating BudgetAll Funds(Total Appropriations $23.9 Billion*)<br />Nonprofit Summit<br />Missouri Budget Forum<br />2010 State Budget: Impact and Response<br />
  24. 24. FY 2011 Budget ReductionsGovernor’s Recommendation<br />Actions Recommended to Balance the Budget:<br /><ul><li>544 fewer positions
  25. 25. $253 million in General Revenue reductions
  26. 26. MO HealthNet ($121 million)
  27. 27. $27 million transfer from other state funds
  28. 28. $26 million DOR collection efficiencies</li></ul>Nonprofit Summit<br />Missouri Budget Forum<br />2010 State Budget: Impact and Response<br />
  29. 29. Bringing It Together <br />Revenue and Spending<br />Status quo would lead to a “cliff” when the budget stabilization funds are gone<br />

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