Arizona state budget (2008-2009)
| Note: This article was last updated in 2009. Click here for more recent information on state budgets and finances. |
Arizona was projected to have a $1.6 billion shortfall for the fiscal year that ended June 30, 2009.[1]
Budget background
- See also: Arizona state budget and finances
The Arizona state budget is a combination of one and two-year budgets. The fiscal year begins July 1 and ends June 30 of the next year.
Every year, the legislature adopts a one-year budget for 15-25 of the largest state agencies. In odd-numbered years, however, the legislature adopts a two-year budget for all other agencies. In 2009, however, the legislature adopted only a one-year budget because of the state's budget crisis. In January and February the Appropriations Committee of both the House and the Senate held hearings for individual agency budgets. Once passed by both by the House and Senate, the budget passes back to the governor for final approval.[2]
Every month the Joint Legislative Budget Committee publishes an updated report on the state's revenue collections and results of individual agency reports.[2]
- FY 2009 budget drew 91 percent of its revenue from three sources: 47 percent from sales and use tax, 37 percent from individual income tax and 7 percent from corporate income tax.[2]
- 6 state agencies accounted for 91 percent of state spending: K-12 education at 42 percent, Medicaid program at 14 percent, universities at 11 percent, corrections at 10 percent, department of economic security at 8 percent and department of health services at 6 percent.[2]
- General fund spending grew 8.7 percent annually.[2]
- Population/inflation grew 5.8 percent annually.[2]
Budget figures
The following table provides a history of Arizona's expenditures and gross domestic product (GDP).
| Fiscal year | Expenditures (billions) | GDP (billions) |
|---|---|---|
| 2000 | $27.3[3] | $158.5[3] |
| 2001 | $29.6[3] | $165.4[3] |
| 2002 | $31.9[3] | $171.9[3] |
| 2003 | $34.0[3] | $182.0[3] |
| 2004 | $36.1[3] | $193.4[3] |
| 2005 | $39.3[3] | $215.8[3] |
| 2006 | $42.7[3] | $237.4[3] |
| 2007 | $46.5[3] | $247.0[3] |
| 2008 | $50.6[3] | $257.1[3] |
| 2009 | $55.0*[3] | $267.5*[3] |
- NOTE: The figures for FY 2009 had not yet been finalized at the time this data was compiled.
Projected budget gap
| Fiscal year | Gap | Percentage of current general fund |
|---|---|---|
| 2008-2009 | $1.6 billion[4] | 15.9%[4] |
| 2009-2010 | $3.0 billion[4] | 29.8%[4] |
See also
- Arizona government sector lobbying
- Arizona state budget and finances
Footnotes
- ↑ Phoenix Business Journal, "Arizona budget deficit labeled country's worst," February 28,2009
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 State of Arizona, "The Legislative Budget Process," December 10,2008
- ↑ 3.00 3.01 3.02 3.03 3.04 3.05 3.06 3.07 3.08 3.09 3.10 3.11 3.12 3.13 3.14 3.15 3.16 3.17 3.18 3.19 US Government Spending, "Arizona State and Local spending," accessed March 11,2009
- ↑ 4.0 4.1 4.2 4.3 Center on Budget and Policy Priorities, "STATE BUDGET TROUBLES WORSEN," accessed March 11,2009
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