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Delaware state budget (2010-2011)
| Note: This article was last updated in 2010. Click here for more recent information on state budgets and finances. |
Delaware passed a $3.3 billion[1] balanced budget bill for FY2010. In May 2010, the Delaware Economic and Financial Advisory Council's revenue subcommittee met and determined that the state would have an extra $100 million.
| Total spending | Pension | Healthcare | Education | Welfare | Protection | Transport | Deficit | Budget gap |
|---|---|---|---|---|---|---|---|---|
| $6.87 | $0.39 | $1.94 | $1.51 | $0.62 | $0.65 | $0.81 | $6.5 | $0.55 |
| Total spending | Pension | Healthcare | Education | Welfare | Protection | Transport | Deficit |
|---|---|---|---|---|---|---|---|
| $3.09 | $0.04 | $0.05 | $1.79 | $0.06 | $0.24 | $0.12 | $2.8 |
FY2011 State Budget
The state's FY2011 budget totaled $3.3 billion.[1] The House approved the budget with a 27-13 vote and the Senate by a vote of 16-4.[1]
Budget Figures
FY2011 Financial Package[3]
| Category | Amount |
|---|---|
| General Fund Operating Budget | $3,305,257,100 |
| Bond and Capital Improvement Act | $389,748,931 |
| *State Capital Projects | $248,758,731 |
| G.O. Bonds | $166,900,000 |
| Cash | $77,000,000 |
| Programming | $4,858,731 |
| *Department of Transportation Capital Projects | $140,990,200 |
| Transportation Authorizations | $126,990,200 |
| Cash | $14,000,000 |
| Grants-In-Aid | $35,242,900 |
FY2010 State Budget
In July 1, 2009 the state closed an $800 million shortfall for FY 2010.[4][5]
The Delaware General Assembly passed and Gov. Jack Markell signed a FY 2010 budget with $3.1907 billion in revenues and $3.1269 billion in appropriations. The budget reserve was $186.4 million as of August 15, 2009. Delaware saw a reduction in revenue projections by $303.6 million for FY 2009 and $648.4 million for FY 2010 before adopting its final budget. Delaware's top 3 revenue sources were 31.8% Personal Income Tax, 28.2% Corporate Franchise Tax & Fees, and 10.1% State Lottery. The state's top 3 General Fund appropriations were 36.3% Public Education, 30.5% Health & Family Welfare, and 16.5% Corrections.[6]
FY 2010 budget was a 5.1% decrease from FY 2009. The FY 2009 General Fund was $3.363 billion, a 2.35% increase over FY 2008.[7]
Budget background
- See also: Delaware state budget and finances
Delaware's fiscal year begins July 1 and ends June 30 of the following year. The state budget process begins in September when the budget office requests that each department in state government submit budget requests for the next year's budget. These requests were generally presented to the State Budget Office at public hearings held in October and November. Between November and January the Governor compiles a recommended budget which was then presented to both the House and the Senate in January.
According to the State Constitution, the Governor must present a budget which was balanced at 98 percent of the state's projected revenues. The Delaware Financial and Economic Advisory Council was charged with making revenue projections, which were made in September, December, March, April, May and June. The Governor's budget was assigned to the Joint Finance Committee. The budget bill was typically introduced and voted on during the last week in June, just before the General Assembly adjourns.[8]
Budget figures
| Fiscal Year | General Funds Expenditures | % Change from Previous Year |
|---|---|---|
| 2003 | $2,454,100,000[9] | --% |
| 2004 | $2,553,700,000[10] | 4.0%[10] |
| 2005 | $2,822,300,000[11] | 10.5%[11] |
| 2006 | $3,180,500,000[12] | 12.7%[12] |
| 2007 | $3,389,900,000[13] | 6.6%[13] |
| 2008 | $3,421,600,000[14] | 0.9%[14] |
See Delaware state budget (2008-2009) for more information.
The Delaware Economic and Financial Advisory Council makes revenue and expenditure estimates on which the FY2011 budget was based and which the Governor used in his Financial Overview for FY2011.[15]
General Fund Revenue Sources[15]
| Source | FY2010 Estimate | FY2011 Estimate |
|---|---|---|
| Personal Income Tax | $879.0 million | $951.7 million |
| Franchise Tax and Limited Partnership/Limited Liability Company Tax | $760.7 million | $737.5
million |
| Business and Occupational Gross Receipts Tax | $190.5 million | $190.5 million |
| Lottery | $288.7 million | $226.2 million |
| Corporation Income Tax | $47.5 million | $68.6 million |
| Bank Franchise Tax | $42.2 million | $35.6 million |
| Abandoned Property | $400.0 million | $380.0 million |
| Realty Transfer Tax | $40.4 million | $27.4 million |
Accounting principles
The Delaware State Auditor publishes audit reports online.[16][17]
The Controller General reports directly to the Legislative Council, a joint committee comprised of the leaders of both houses of the Legislature.[18]
| Credit Rating | Fitch | Moody's | S&P |
| Delaware[19] | AAA | Aaa | AAA |
See also
Footnotes
- ↑ 1.0 1.1 1.2 Whyy.com "Del. governor signs budget" July 1, 2010
- ↑ 2.0 2.1 USA Spending, State Guesstimated* Government Spending
- ↑ FY2011 Budget Overview
- ↑ Gov. Jack Markell Press Release, "Markell Signs Budget That Responsibly Closes Historic Shortfall," July 1, 2009
- ↑ FY 2010 Budget Highlights (dead link)
- ↑ Delaware Office of the Controller General, "FY 2010 Highlights," September 28, 2009 (dead link)
- ↑ Delaware Office of the Governor, "Fiscal Year 2009 Highlights," July 1, 2008
- ↑ Delaware State Education Association, "The budget process," accessed March 24,2009
- ↑ State of Delaware, "Financial Summary FY 2005," accessed March 24,2009
- ↑ 10.0 10.1 State of Delaware, "Financial Summary FY 2006," accessed March 24,2009
- ↑ 11.0 11.1 State of Delaware, "Financial Summary FY 2007," accessed March 24,2009
- ↑ 12.0 12.1 State of Delaware, "FY 2008 Recommended Budget," accessed March 24,2009
- ↑ 13.0 13.1 State of Delaware, "FY 2009 Recommended Budget," accessed March 24,2009
- ↑ 14.0 14.1 State of Delaware, "Financial Summary FY 2010," accessed March 24,2009
- ↑ 15.0 15.1 Financial Overview FY2011
- ↑ Delaware State Auditor Web site, accessed October 13, 2009
- ↑ Audit reports (dead link)
- ↑ Delaware General Assembly Web site, accessed October 13, 2009
- ↑ California State Treasurer, “Comparison of Other States’ General Obligation Bond Ratings”
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