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Kentucky state budget (2010-2011)

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Note: This article was last updated in 2011. Click here for more recent information on state budgets and finances.

Kentucky passed a $17.1 billion supplemental budget for FY2011.[1] Kentucky budgets for 2-year cycles on a biennium basis. The enacted FY 2011-13 budget was $17.1 billion. The 2008-2010 biennium budget originally passed in 2008 was $19.1 billion in General Funds, total funds $53.2 billion.[2][3]

Going into the fiscal year, the state had a total state debt of $32,099,663,040 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 Budget gap
$25.1 $3.4 $9.1 $5.4 $2.9 $1.2 $1.9 $16 $0.4
2011 Local spending & deficit in billions[5]
Total spending Pension Healthcare Education Welfare Protection Transport Debt
$16.5 $0 $1.1 $6.1 $0.2 $1.2 $0.8 $34.2

Fiscal Years 2011-12 Budget

The FY2012 Operating and Capital Budgets can be found online, along with the FY2011 CAFR.[6][7][8]

The state ended FY2012 with a surplus of nearly $46 million, and general fund revenues increased 3.8 percent with the state generating $331.5 million more than FY2011.[9]

Kentucky concluded FY2011 with a surplus of $156.8 million. Approximately $35 million of those funds went to pay for emergencies and other expenses that were not included in the two-year budget. The remaining money — about $121.8 million — was to be deposited into the state's budget reserve trust fund, or "rainy day" fund.[10] The state's General Fund receipts for FY2011 were up about 6.5 percent over the prior year. Total receipts were $8.7 billion in fiscal year 2011.[10]

Supplemental Budget for FY2011

In May 2010, the legislature passed a $17.1 billion supplemental budget for FY2011.[1] The Senate approved the budget 35-0 and the House approved it by a vote of 86-7.[11][11]

Fiscal Year 2010

Budget officials announced on July 21, 2010, that, at the close of FY2010, the state's general fund had a surplus of $29.7 million.[12]

Budget background

See also: Kentucky state budget and finances

In Kentucky, the legislature passes biennial budget bills which include two fiscal years. The state's fiscal year begins July 1st and ends June 30th of the following year. The budget includes appropriations for the state's operating and capital budget and recommendations made by each state agency. Estimates of the General Fund and Road Fund revenues were compiled by the Consensus Forecasting Group. Prior to the Governor's approval, the budget passes through first the House of Representatives and then the Senate for amendments. After a series of hearings the Governor can either approve the budget as approved by the Legislature or continue to amend the bill through vetoes. Once the budget is approved, amendments can be made to the budget bill as necessary.[13]

Budget figures

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

Fiscal Year Expenditures (billions) GDP (billions)
2000 $21.5[14] $111.9[14]
2001 $23.1[14] $115.1[14]
2002 $24.8[14] $120.7[14]
2003 $25.8[14] $124.9[14]
2004 $26.9[14] $131.7[14]
2005 $27.0[14] $138.5[14]
2006 $29.5[14] $146.4[14]
2007 $32.3[14] $154.7[14]
2008 $35.3[14] $162.4[14]
2009 $38.6*[14] $171.0*[14]

2008-2010 Biennium General Fund Appropriations $19.1 Billion[15]

Category Percentage
Education 43.8%
Postsecondary 13.7%
Medicaid 13.3%
Other 11.5%
Criminal Justice System 10.2%
Human Services 7.4%


2008-2010 Biennium Total Fund Appropriations $53.2 Billion[16]

Category Percentage
Postsecondary Education 20.1%
Medicaid 20.0%
Education 18.5%
Other 11.8%
Transportation 8.6%
Capital Projects 8.3%
Human Services 7.9%
Criminal Justice System 4.8%

Accounting principles

The Kentucky Auditor of Public Accounts had been Crit Luallen since her first election in November of 2003. Luallen was named 2009 'Public Official of the Year' by Governing Magazine. Kentucky's audit reports may be searched online. The Reorganization Act of 1936 established the Auditor of Public Accounts as an impartial auditor entirely independent of state administration and charged the office with the responsibility to audit the accounts and financial transactions of all spending agencies of the Commonwealth. This remains the primary function of the Auditor of Public Accounts today.[17]

Footnotes

  1. ↑ 1.0 1.1 Business Week "2 Ky. lawmakers return wages for special session" June 24, 2010
  2. ↑ Office of State Budget Director, "2008-2010 Budget in Brief," June 11, 2008
  3. ↑ 2008-2010 biennium budget
  4. ↑ State Budget Solutions “States Hide Trillions in Debt” July 22, 2010
  5. ↑ 5.0 5.1 USA Spending, State Guesstimated* Government Spending
  6. ↑ FY2012 Operating Budget
  7. ↑ FY2012 Capital Budget
  8. ↑ FY2011 CAFR
  9. ↑ Cincinnati.com "Kentucky ends year with $46M surplus" July 30, 2012
  10. ↑ 10.0 10.1 The Lexington Herald Leader "Kentucky would deposit $121 million in 'rainy day' fund" July 28, 2011
  11. ↑ 11.0 11.1 "Kentucky legislature approves budget bill" May 30, 2010
  12. ↑ The Louisville Courier-Journal "Kentucky surplus revised to $29.7 million" July 22, 2010
  13. ↑ Kentucky's Open Door, "How the budget was made," accessed February 24, 2009
  14. ↑ 14.00 14.01 14.02 14.03 14.04 14.05 14.06 14.07 14.08 14.09 14.10 14.11 14.12 14.13 14.14 14.15 14.16 14.17 14.18 14.19 , "Kentucky state and local spending," accessed February 24,2009
  15. ↑ Office of State Budget Director, "2008-2010 Budget in Brief," June 11, 2008
  16. ↑ Office of State Budget Director, "2008-2010 Budget in Brief," June 11, 2008
  17. ↑ audit reports
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