Nebraska state budget (2010-2011)
Note: This article was last updated in 2011. Click here for more recent information on state budgets and finances. |
The state of Nebraska passed a $6.9 billion biennial budget that included general fund appropriations of $3,319,794,999 for FY2009-10 and $3,405,101,292 for 2010-11.[1][2] The state faced an approximately $751 million budget gap between expected revenue and the projected cost of running Nebraska state government.[3][4]
Going into the fiscal year Nebraska had a total state debt of $1,102,440,010 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.[5]
Total spending | Health and human services | Education | Protection | Other |
---|---|---|---|---|
$3.4 | $1.2 | $1.5 | $0.15 | $0.60 |
Total spending | Pension | Healthcare | Education | Welfare | Protection | Transport | Deficit |
---|---|---|---|---|---|---|---|
$14.9 | $0.20 | $0.80 | $3.6 | $0.30 | $0.9 | $0.80 | $13 |
FY2010-11 Biennial Budget
- See also: Archived Nebraska state budgets
Find the state’s FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government online.[8]
In Dec. 2010, the National Conference of State Legislatures said that the state faced a midyear shortfall of $74 million, which represented 2.1% of the FY2011 state budget.[9]
For FY 2010 Nebraska's General Fund saw a 2.9% reduction and a 5.3% increase in FY 2011 with a two-year average of 1.1% per year. The General Fund was $3.38 billion for FY 2010 and $3.56 billion for FY 2011. Total funds were $8.4 billion for FY 2010 and $8.6 billion for FY 2011 compared to $8.2 billion for FY 2009.[10]
For the fiscal year beginning July 1, 2011, the revenue shortfall was 8% of state spending, or $679 million. The $679 million shortfall was calculated using five-year historical averages for tax revenue growth and under which revenue was projected to increase annually by 7.2%.[11]
Budget background
- See also: Nebraska state budget and finances
Nebraska operates on a biennium, covering two fiscal years at a time. The fiscal biennium began on July 1, 2009 and ends on June 30, 2011. Each state agency submits their budget recommendations along with prior spending and revenue data by September. In odd-numbered years the Governor was required to submit a budget proposal by January 15 with the exception in the first year of office a Governor may submit a proposal on or before February 15[12] to the Legislature. Following a series of hearings and meetings the Nebraska Unicameral make necessary amendments prior to returning the budget document to the Governor. The Governor had 5 days to sign, not sign, veto, or use a line-item veto before the bill goes into effect. According to the state Constitution 30 votes were required to override the veto.[13]
A budget enacted for a fiscal year can be amended or changed up to the last day of that fiscal year. Deficit appropriations were changes made to the originally enacted appropriations.[14]
Budget figures
The following table provides a history of Nebraska's expenditures and gross domestic product (GDP).
Fiscal Year | Expenditures (billions) | GDP (billions) |
---|---|---|
2000 | $10.8[15] | $55.5[15] |
2001 | $11.6[15] | $57.4[15] |
2002 | $12.5[15] | $59.9[15] |
2003 | $13.3[15] | $64.6[15] |
2004 | $14.1[15] | $68.4[15] |
2005 | $14.3[15] | $71.2[15] |
2006 | $15.3[15] | $75.3[15] |
2007 | $16.3[15] | $80.1[15] |
2008 | $17.4[15] | $85.2[15] |
2009 | $18.6*[15] | $90.6*[15] |
- NOTE: The figures for FY 2009 were not finalized
Accounting principles
The Nebraska Auditor of Public Accounts office was responsible for independent, accurate, and timely audits, evaluations, or investigations of the financial operations of Nebraska State and local governments. Mike Foley had been Auditor of Public Accounts since his election in November of 2006. The office of the Auditor of Public Accounts was one of six offices making up the executive branch of Nebraska State Government. Nebraska's audit reports were published online.[16][17]
Paul Carlson was State Accounting Administrator. State Accounting was a division of the Department of Administrative Services (DAS) and operates and maintains statewide financial systems. The division pre-audits agency transactions, issues statewide Comprehensive Annual Financial Reports (CAFR) and Budgetary Reports, and coordinates the long-term financing needs of the state. State Accounting also prepares the Statewide Cost Allocation Plan (SWCAP).[18]
Credit Rating | Fitch | Moody's | S&P |
Nebraska[19] | NR | Aa3 | AA+ |
See also
Footnotes
- ↑ The Lincoln Journal Star "Special session to cut Nebraska budget begins" Nov. 4, 2009
- ↑ State Budget Division "General Fund Appropriations Summary, 2009 ‐ 2011 Biennium"
- ↑ "Lawmakers eye tax exemptions" August 8, 2010
- ↑ Omaha World-Herald, "Budget plan cuts most agencies," March 9, 2010 (dead link)
- ↑ State Budget Solutions “States Hide Trillions in Debt” July 22, 2010
- ↑ State Budget Division, General Fund Appropriations Summary (dead link)
- ↑ USA Spending, State Guesstimated* Government Spending
- ↑ FY2011 CAFR
- ↑ The Wall Street Journal “States Face Budget Shortfalls of $26.7 Billion“ Dec. 8, 2010
- ↑ Nebraska Legislative Fiscal Office, "State of Nebraska Biennial Budget (2009 Session)," August 2009
- ↑ Cite error: Invalid
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- ↑ Nebraska Legislative Fiscal Office, "State of Nebraska Biennial Budget (2009 Session)," August 2009
- ↑ Nebraska Council of School Administrators, "Nebraska budget process," October 30,2008 (dead link)
- ↑ Nebraska Legislative Fiscal Office, "State of Nebraska Biennial Budget (2009 Session)," August 2009
- ↑ 15.00 15.01 15.02 15.03 15.04 15.05 15.06 15.07 15.08 15.09 15.10 15.11 15.12 15.13 15.14 15.15 15.16 15.17 15.18 15.19 US Government Spending, "Nebraska State and Local spending," accessed April 8,2009
- ↑ Nebraska Auditor of Public Accounts Web site, accessed October 30, 2009 (dead link)
- ↑ audit reports (dead link)
- ↑ Nebraska Accounting Division Web site, accessed October 30, 2009
- ↑ State of Indiana, “State Credit Ratings-as of June 24, 2009"
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