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12.8.2011 House Appropriations  Sub-Committee on Debt
STATE CASH FLOW TOTAL OPERATING ACCOUNT AVERAGE MONTHLY BALANCE Up 28% through Nov. 2011 $858 million in Nov.
STATE CASH FLOW
STATE CASH FLOW Average Balance FY 2012  YTD: $870 million Average Balance FY 2011  YTD: $672 million Increase of  28%
State Balance Sheet/ Fiscal Issues
STATE BALANCE SHEET <ul><li>$0 set aside for emergencies </li></ul><ul><li>$382 million in use of fund transfers and  </li...
LONGER TERM ISSUES <ul><li>Medicaid : President’s health care plan wipes out budget in 2014 and beyond </li></ul><ul><li>$...
CONCLUSION <ul><li>Address Balance Sheet Items </li></ul><ul><li>+ </li></ul><ul><li>Address Longer Term Issues  </li></ul...
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Subcommittee On Debt

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December 2011 Presentation to the House Appropriations Subcommittee on Debt

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Subcommittee On Debt

  1. 1. 12.8.2011 House Appropriations Sub-Committee on Debt
  2. 2. STATE CASH FLOW TOTAL OPERATING ACCOUNT AVERAGE MONTHLY BALANCE Up 28% through Nov. 2011 $858 million in Nov.
  3. 3. STATE CASH FLOW
  4. 4. STATE CASH FLOW Average Balance FY 2012 YTD: $870 million Average Balance FY 2011 YTD: $672 million Increase of 28%
  5. 5. State Balance Sheet/ Fiscal Issues
  6. 6. STATE BALANCE SHEET <ul><li>$0 set aside for emergencies </li></ul><ul><li>$382 million in use of fund transfers and </li></ul><ul><li>one-time revenue sources </li></ul><ul><li>$905 million of temporary 1-cent sales tax </li></ul><ul><li>$1.3 billion of bill deferments: K-12 rollover, AHCCCS; Universities, DES </li></ul>
  7. 7. LONGER TERM ISSUES <ul><li>Medicaid : President’s health care plan wipes out budget in 2014 and beyond </li></ul><ul><li>$900 million of formula suspensions </li></ul><ul><li>$1.5 billion of operating debt leftover </li></ul><ul><li>Pension Funds : Unfunded liability of 4 plans is $16.2 billion, with +/- $3.7 billion of that state’s responsibility split between employees and taxpayers. </li></ul><ul><li>Regulatory and tax reform issues </li></ul>
  8. 8. CONCLUSION <ul><li>Address Balance Sheet Items </li></ul><ul><li>+ </li></ul><ul><li>Address Longer Term Issues </li></ul><ul><li>= </li></ul><ul><li>Budget Surplus </li></ul>

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