Fiscal condition of the states 2012 a

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Presentation for LA Multiparish Tax Commission

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  • Also, massive increase in federal aid kept current receipts from falling despite decline in tax revenues.
  • Fiscal condition of the states 2012 a

    1. 1. Fiscal Condition of the States: Prepared for the Louisiana Multiparish Tax Commission March 1 , 2012 Elliott Dubin Director of Policy Research Multistate Tax Commission LA Multiparish Tax Committee
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    8. 8. State Year-End Balances, Fiscal 1982 to 2012 LA Multiparish Tax Committee Right scale Left Scale Source: National Association of State Budget Officers
    9. 9. Source: National Association of State Budget Officers. 2011 Total Year-End Balances as a Percent of Expenditures Fiscal Years 2010 to 2012 LA Multiparish Tax Committee Number of States Percentage Fiscal 2010 Actual Fiscal 2011 Preliminary Fiscal 2012 Appropriated Less than 1.0 percent 12 8 12 1.0 to 4.9 percent 15 18 19 5.0 to 9.9 percent 13 13 10 10.0 percent or greater 10 11 9 Average 5.2% 6.4% 6.2%
    10. 10. Strategies Used by States to Reduce Budget Gaps, Fiscal 2012 <ul><li>Increase taxes and/or user fees 1 17 </li></ul><ul><li>Reduce employment costs 2 24 </li></ul><ul><li>Across-the board or targeted 32 programmatic costs </li></ul><ul><li>Reorganize agencies or privatization 16 </li></ul><ul><li>Expand lottery and/or gaming 4 </li></ul><ul><li>Use “Rainy Day” funds 4 </li></ul><ul><li>Reduce aid to local governments 18 </li></ul><ul><li>Do nothing 15 </li></ul>LA Multiparish Tax Committee 1. Includes: higher education fess, court fees, transportation/motor vehicle fees, business related fess, and other fees 2. Includes: layoffs, furloughs, early retirement, salary reductions, and cuts in benefits. Source: National Association of State Budget Officers, 2011.
    11. 11. Note: employment data are seasonally adjusted at annual rates Source: U.S. Bureau of Labor Statistics LA Multiparish Tax Committee
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    15. 15. Source, U.S. Department of Commerce LA Multiparish Tax Committee
    16. 16. State and Local Receipts by Major Type, Percent Change from Previous Year 2002 I to 2011 III LA Multiparish Tax Committee Source: U.S. Department of Commerce, Bureau of Economic Analysis . Right Scale
    17. 17. Percent Change from Previous Quarter in State and Local Government Current Expenditures and Gross Investment in Current and Chained 2005 Dollars, 2002 I to 2011 IV LA Multiparish Tax Committee Source: U.S. Bureau of Economic Analysis
    18. 18. Year-over-Year Percentage Change in State Tax Revenues by Type of Tax, 2002 I to 2011 III LA Multiparish Tax Committee Source: U.S. Bureau of the Census
    19. 19. Year over Year Percent Changes: State Tax Revenue -- Nominal and Adjusted for Inflation 2002 I to 2011 III LA Multiparish Tax Committee Source: Nelson A. Rockefeller Institute of Government
    20. 20. Year-over-Year Percentage Change in Local Government Tax Receipts, 2002 I to 2011 III LA Multiparish Tax Committee Source: U.S. Bureau of the Census and MTC
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    23. 23. A Silver Lining? <ul><ul><li>■ State and Local Governments Will Reorder Priorities? </li></ul></ul><ul><ul><li>■ Implement Efficiencies: </li></ul></ul><ul><ul><li>● Public-Private Partnerships </li></ul></ul><ul><ul><li>● Outsourcing where applicable </li></ul></ul><ul><ul><li>● Continue reorganization of public agencies </li></ul></ul><ul><ul><li>■ Increase Size of “Rainy Day” Funds </li></ul></ul><ul><ul><li>■ Implement Other Necessary Reforms </li></ul></ul>LA Multiparish Tax Committee

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