Hawaii 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.


Find the state’s FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government online.[1]

Governor Linda Lingle signed the $11.9 billion FY2011 budget into law on June 28, 2010.[2] Gov. Lingle proposed in December 2008 a biennium operating budget for fiscal years 2010 and 2011 totaling $22.42 billion, $11.1 billion in FY 10 and $11.3 billion in FY 11.[3]

Going into the fiscal year Hawaii had a total state debt of $26,111,383,024 when calculated by adding the total of outstanding debt, pension and OPEB UAAL’s, unemployment trust funds, and the 2010 budget gap as of July 2010.[4]

2011 State spending & deficit in billions[5]
Total spending Pension Healthcare Education Welfare Protection Transport Debt
$12.5 $0.8 $2.5 $4 $1.4 $0.7 $1.1 $9
2011 Local spending & deficit in billions[5]
Total spending Pension Healthcare Education Welfare Protection Transport Debt
$3.4 $0 $0 $0 $0.2 $0.7 $0.5 $6.7

FY 2011 State Budget

Hawaii faced a budget deficit of approximately $200 million for the fiscal year and about $1.3 billion over the two-year budget cycle. On March 29, 2011, the state Council on Revenues projected a 1.6% decline in revenues, down from the 0.5% growth it had previously predicted weeks earlier. [6]

At the start of the 2011 legislative session, Hawaii faced a projected $1.2 billion budget deficit through June 2011, but eliminated that shortfall.[2][7]

The state legislature passed HB2200, the state's $11.9 billion budget, on April 27, 2010, and sent it to Gov Lingle.[2][8][9] The House passed the budget unanimously and there was only one no vote in the Senate.[10][11]

Budget background

See also: Hawaii state budget and finances

Hawaii has an annual Legislative session and sets a biennial budget in odd years. State agencies submit their budget to the Governor in September each year. The Governor submits the budget in December, 30 days before the Legislature convenes on the 3rd Wednesday in January, which meets for 60 working days. The state’s fiscal year runs from July 1 to June 30.[12]

Budget figures

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

Fiscal Year Expenditures (billions) GDP (billions)
2000 $8.2[13] $40.2[13]
2001 $8.8[13] $41.8[13]
2002 $9.4[13] $43.5[13]
2003 $9.6[13] $46.4[13]
2004 $9.9[13] $50.4[13]
2005 $10.5[13] $54.9[13]
2006 $11.0[13] $58.7[13]
2007 $11.5[13] $61.5[13]
2008 $12.1[13] $64.5[13]
2009 $12.7*[13] $67.7*[13]
  • NOTE: The figures for FY 2009 won't be finalized until the end of the fiscal year.

See Hawaii state budget (2008-2009) for more information.

Accounting principles

The State Constitution in Article VII, Section 10, establishes the Office of the Auditor. The Constitution specifies that the Auditor be appointed for an eight-year term by a majority vote of each house in joint session. The Auditor may be removed only for cause by a two-thirds vote of the members in joint session. It was the constitutional duty of the Auditor to conduct post-audits of the transactions, accounts, programs and performance of all departments, offices, and agencies of the State and its political subdivisions. Audit reports were published online.[14][15]

Credit Rating Fitch Moody's S&P
Hawaii[16] AA Aa2 AA

See also

Footnotes

  1. ↑ FY2011 CAFR
  2. ↑ 2.0 2.1 2.2 Businessweek "Hawaii governor signs state budget for 2010-11" June 29, 2010
  3. ↑ "Governor Unveils Two-Year Budget, Six-Year Plan," December 22, 2008
  4. ↑ State Budget Solutions “States Hide Trillions in Debt” July 22, 2010
  5. ↑ 5.0 5.1 USA Spending, State Guesstimated* Government Spending
  6. ↑ The Honolulu Star Advertiser "State budget deficit to grow to $1.3 billion, panel predicts" March 29, 2011
  7. ↑ Business Week "Hawaii Legislature passes $10.1 billion budget, tax hikes" April 28, 2010
  8. ↑ The Honolulu Star Bulletin "Job cuts and new taxes balance state's budget" April 28, 2010
  9. ↑ Honolulu Advertiser "Hawaii Senate votes to cut off Act 221 high-tech tax credits" April 28, 2010
  10. ↑ Pacific Business News "Hawaii state budget had tax, fee hikes" April 27, 2010
  11. ↑ House Bill 2200
  12. ↑ National Association of Budget Officers, "Budget Processes in the States," 2008 (dead link)
  13. ↑ 13.00 13.01 13.02 13.03 13.04 13.05 13.06 13.07 13.08 13.09 13.10 13.11 13.12 13.13 13.14 13.15 13.16 13.17 13.18 13.19 US Government Spending, "Hawaii State and Local spending," accessed April 15,2009
  14. ↑ Hawaii State Auditor Web site, accessed October 16, 2009
  15. ↑ audit reports
  16. ↑ California State Treasurer, “Comparison of Other States’ General Obligation Bond Ratings”
Flag of Hawaii
v • e
State of Hawaii
Honolulu (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=Hawaii_state_budget_(2010-2011)&oldid=9150541"