Iowa 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.

Iowa's $6.2 billion state budget for FY2011 was signed on March 30, 2010.[1]

Going into the fiscal year the state had a total state debt of $6,841,508,016, 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.[2]


2011 State spending & deficit in billions[3]
Total spending Human services Education Protection Administration
$5.6 $1.4 $3.2 $0.6 $0.31
2011 Local spending & deficit in billions[4]
Total spending Pension Healthcare Education Welfare Protection Transport Deficit
$17.9 $0 $2 $6.1 $0.3 $1 $1.4 $9.9

Fiscal Year 2011 State Budget

Find the state’s FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government online.[5]

Iowa faced a budget shortfall of approximately $1 billion for FY 2011 and $415 million for the 2010 budget.[6]

State Budget in Prior Years

The state ended FY2010 with a nearly $336 million surplus.[7] The surplus was in addition to $419 million in various “rainy day” or emergency accounts.[7]The Iowa General Assembly passed a reduced budget for FY 2010 of $5.77 billion compared to $5.9 billion for FY 2009.[8]

Budget background

See also: Iowa state budget and finances

In Iowa state agencies prepare and submit requests by October 1st for the following fiscal year. The Governor, the director of the legislative services agency, and a third member agreed to by the other two, meet to estimate the revenue for the upcoming fiscal year. The Governor then reviews the budget requests by state agencies, conducts public hearings and submits recommendations to the General Assembly in January. From January through February the legislature hosts a variety of joint meetings. Once the budget bill was approved the bill was submitted to the Governor, who had line-item veto authority in appropriations bills.[9]
Iowa's fiscal year begins July 1 and ends June 30.

Section 8.31, Code of Iowa, states that if the Governor determines that the estimated budget resources during the fiscal year were insufficient to pay all appropriations in full, the reductions shall be uniform and prorated between all departments, agencies, and establishments upon the basis of their respective appropriations. Gov. Culver ordered a 1.5% reduction of $89.1 million for FY 2009. The FY 2009 budget was reduced in total cuts from $6.13 billion to $5.95 billion. The latest round of cuts for the current fiscal year reduces the FY 2010 General Fund budget to $5.18 billion, $5.77 billion with federal funds.[10]

Budget figures

The following table provides a history of Iowa's general fund ending balances for the past decade[7]:

Fiscal Year Balance
2001 $0.0 million
2002 $89.0 million
2003 $-45.3 million
2004 $166.0 million
2005 $166.2 million
2006 $361.9 million
2007 $261.6 million
2008 $196.4 million
2009 $0.0 million
2010 $335.6 million

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

Fiscal Year Expenditures (billions) GDP (billions)
2000 $17.2[11] $90.2[11]
2001 $18.2[11] $91.9[11]
2002 $19.3[11] $97.4[11]
2003 $19.9[11] $102.2[11]
2004 $20.6[11] $111.9[11]
2005 $21.4[11] $115.6[11]
2006 $23.0[11] $121.9[11]
2007 $24.7[11] $129.0[11]
2008 $26.4[11] $136.5[11]
2009 $28.4*[11] $144.4*[11]
  • NOTE: The figures for FY 2009 won't be finalized until the end of the fiscal year

Accounting principles

The Iowa State Auditor was David A. Vaudt. The Auditor of State was a constitutional official, elected every four years. The Auditor was required to annually make a complete audit of the books, records and accounts of every department of state government. Iowa’s audit reports were published online.[12][13]

The Iowa Department of Administrative Services (DAS) was created on July 1, 2003. Ray Walton became Chief Operating Officer of the Department of Administrative Services in 2007. DAS Core consists of:[14]

  • Finance and Operations
  • Legal Counsel
  • Legislative Liaison
  • Marketing and Communications

See also

Footnotes

  1. ↑ IowaPolitics.com "Parties offer competing views of the session as Legislature adjourns" March 31, 2010
  2. ↑ State Budget Solutions “States Hide Trillions in Debt” July 22, 2010
  3. ↑ Iowa Publications, FY2011 Budget
  4. ↑ USA Spending, State Guesstimated* Government Spending
  5. ↑ FY2011 CAFR (dead link)
  6. ↑ KCCI,"$1 Billion Iowa Budget Shortfall Projected," November 25, 2009
  7. ↑ 7.0 7.1 7.2 The Des Moines Register "Culver cheers: Iowa’s budget posts one of largest ending balances in history" Sept. 30, 2010
  8. ↑ Iowa Graybook, “FY 2010 Appropriations Tracking,” July 14, 2009
  9. ↑ State of Iowa, "Iowa state budget process," January 1,2006
  10. ↑ Iowa Legislative Services Agency, “Across-the-Board Reductions,” October 2009
  11. ↑ 11.00 11.01 11.02 11.03 11.04 11.05 11.06 11.07 11.08 11.09 11.10 11.11 11.12 11.13 11.14 11.15 11.16 11.17 11.18 11.19 US Government Spending, "Iowa State and Local spending," accessed February 27,2009
  12. ↑ audit reports
  13. ↑ Iowa State Auditor Web site, accessed October 22, 2009
  14. ↑ Iowa Department of Administrative Services Web site, accessed October 22, 2009
Flag of Iowa
v • e
State of Iowa
Des Moines (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=Iowa_state_budget_(2010-2011)&oldid=9436322"