Georgia state budget (2010-2011)

From Ballotpedia
Jump to: navigation, search
Note: This article was last updated in 2011. Click here for more recent information on state budgets and finances.


2011 State spending & deficit in billions[1]
Total spending Education Healthcare Protection Departments Agriculture Debt management
$17.8 $10.3 $3.3 $1.4 $.75 $.76 $1.1
2011 Local spending & deficit in billions[2]
Total spending Pension Healthcare Education Welfare Protection Transport Deficit
$58 $0.3 $4.7 $18.8 $1.2 $4.3 $3.2 $51.2

Lawmakers approved a $17.9 billion budget for FY2011 which was signed into law on June 8 2010, prior to the start of the fiscal year on July 1, 2010.[3]

Tax revenues

The state's tax revenues increased in the first two months of the fiscal year, with August 2010 showing a double-digit gain in tax collections over the same month previous year.[4] Individual state income tax collections rose 24% over August 2009, a gain of nearly $120 million.[4] The state budget plan was based on a 4% growth in tax collections.[4] In August 2010, the Department of Revenue said receipts totaled were $1.185 billion compared to the $1.052 billion in August 2009.[5]

Budget background

See also: Georgia state budget and finances

During FY 2009, revenues declined 10.5 percent from FY 2008 levels. This resulted in a FY 2009 budget shortfall of approximately $650 million. Lawmakers closed the shortfall by using approximately $365 million of the remaining Revenue Shortfall Reserve funds, approximately $190 million in ARRA funds, and end-of-year budget savings.[6]

FY 2010 Total State Funds Budget (Includes Lottery Funds and Tobacco Funds) Funding Area[7]

Education 58.1%
Health and Social Services 10.0%
Criminal Justice 9.1%
Medicaid and PeachCare 8.9%
Debt Service 6.1%
Transportation 3.8%
All Other Government 4.0%

Georgia's fiscal year runs from July 1 to June 30. The Governor submits the budget to the Legislature in January for their annual session.[8]

Budget figures

The following table provides a history of Georgia's expenditures and gross domestic product (GDP).

Fiscal Year Expenditures (billions) GDP (billions)
2000 $43.5[9] $290.9[9]
2001 $48.6[9] $299.4[9]
2002 $53.6[9] $306.7[9]
2003 $56.0[9] $317.9[9]
2004 $58.4[9] $338.5[9]
2005 $58.9[9] $359.7[9]
2006 $63.0[9] $376.4[9]
2007 $72.6[9] $396.5[9]
2008 $81.2[9] $409.6[9]
2009 $90.7*[9] $408.9*[9]
  • NOTE: The figures for FY 2009 won't be finalized until the end of the fiscal year.

See Georgia state budget (2008-2009) for more details.

Accounting principles

The Georgia State Accounting Office was established on October 6, 2004 with an executive order signed by Governor Sonny Perdue. Governor Perdue signed House Bill 293, which codified the realignment of the state's financial reporting and financial system responsibilities under a single State Accounting Officer (SAO). The State Accounting Office was responsible for the following duties:[10]

  • Establish statewide accounting and reporting standards and practices.
  • Operate and improve statewide financial and human capital management systems.
  • Prepare the state's Comprehensive Annual Financial Report (CAFR); the annual audited financial statement for the entire state entity.
  • Provide statewide financial information on interim basis.
  • Train state accounting and payroll personnel in new polices, procedures and standards.
  • Improve accountability, efficiencies and internal controls.

The Georgia Department of Audits was responsible for state financial accountability.[11]

See also

Georgia state budget and finances

Footnotes

  1. ↑ "Governor's Office of Planning and Budget" The Governor's Budget Report
  2. ↑ USA Spending, State Guesstimated* Government Spending
  3. ↑ Atlanta Business Chronicle "Perdue signs ’11 budget" June 8, 2010
  4. ↑ 4.0 4.1 4.2 The Atlanta Journal Constitution "State's revenues up again" September 9, 2010
  5. ↑ Watchdog, Georgia Reports Slightly Encouraging Monthly Revenue Numbers, Sept. 9, 2010
  6. ↑ Georgia Budget & Policy Institute, “Solving Georgia’s Fiscal Crisis Requires More Thoughtful Measures Than Cutting Public Structures,” September 2009
  7. ↑ Georgia Budget & Policy Institute, “Analysis of the FY 2010 Budget: Closing One Year’s Shortfall and Planning for Another,” June 2009 (Updated 7/13/2009)
  8. ↑ National Association of Budget Officers, "Budget Processes in the States," 2008 (dead link)
  9. ↑ 9.00 9.01 9.02 9.03 9.04 9.05 9.06 9.07 9.08 9.09 9.10 9.11 9.12 9.13 9.14 9.15 9.16 9.17 9.18 9.19 US Government Spending, "Georgia State and Local spending," accessed June 3,2009
  10. ↑ Georgia State Accounting Office Web site, accessed October 15, 2009
  11. ↑ The Georgia Department of Audits Web site, accessed October 15, 2009
Flag of Georgia
v • e
State of Georgia
Atlanta (capital)
Elections

What's on my ballot? | Elections in 2025 | How to vote | How to run for office | Ballot measures

Government

Who represents me? | U.S. President | U.S. Congress | Federal courts | State executives | State legislature | State and local courts | Counties | Cities | School districts | Public policy

Retrieved from "https://ballotpedia.org/wiki/index.php?title=Georgia_state_budget_(2010-2011)&oldid=10250973"