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North Carolina 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.

North Carolina operates on a biennium budget schedule, budgeting for two fiscal years at a time. While the General Assembly draws up a budget every two years, it then adjusts the budget just prior to the start of the second fiscal year of the budget.[1] The State Assembly passed the $19 billion FY2011 budget and Gov. Bev Perdue signed the budget into law on June 30, 2010.[2]

As of July 2010 North Carolina had a total state debt of $43,742,516,373 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.[3]

2011 State spending & deficit in billions[4]
Total spending Education Departments Healthcare Protection Natural resources Debt service
$22.8 $12.5 $.47 $5.8 $2.3 $.50 $.74
2011 Local spending & deficit in billions[5]
Total spending Pension Healthcare Welfare Protection Transport Deficit
$30.8 $0 $6.3 $15 $2.8 $3.1 $1.5 $30.8

Fiscal Year 2011 State Budget

See also: Archived North Carolina state budgets

Find the state’s FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government online.[6]

The North Carolina Assembly passed the FY2011 budget and Gov. Bev Perdue signed it into law on June 30, 2010. The state budget was done on time. Before FY 2011 , the last time the budget was passed on time in North Carolina was 2003.[2]

On June 27, 2010, the House and the Senate reached a deal on the $18.9 billion plan that reduced state spending by 3.3 percent less than the legislature expected to spend when it approved a two-year budget the previous summer.[1] The House approved the spending plan by a vote of 66-50 and the Senate voted 28-15 in favor.[2]

The state faced a deficit between $800 million and $1.2 billion on April 20, 2010, when Governor Bev Perdue introduced a $19 billion budget for FY2011. Perdue's budget included reductions of $410 million for the second year of a biennial budget she signed into law the previous summer.[7][8] The state legislature began to consider the budget when it reconvened on May 12, 2010.[7][9]

Budget background

North Carolina’s constitution requires that the budget enacted by the general assembly be balanced. In the second year of the biennium, the Office of State Budget and Management develops the governor’s recommended adjustments to the biennial budget. The governor releases a recommended budget every other year in February but still makes an annual update, usually in May. Once both the House and the Senate review and approve the document, then the bill was submitted to the governor for final approval.[10]

In 2007, the legislature created the Program Evaluation Division, a watchdog group to examine state programs and their efficiency. It was one of the last state legislatures to create such a group. The Legislature or the division's 18-member bipartisan oversight committee determines what the division's 10 member staff, which was separate from the legislature's regular staff, would review.[11] The Program Evaluation Division's recent report can be found online.[12]


Budget figures

Fiscal Year General Funds Expenditures % Change from Previous Year
2000 $13,853,708,453[13] 6.9%[13]
2001 $13,445,510,386[13] -2.9%[13]
2002 $13,741,135,020[13] 2.2%[13]
2003 $13,855,522,493[13] 0.8%[13]
2004 $14,704,184,520[13] 6.1%[13]
2005 $15,798,359,545[13] 7.4%[13]
2006 $17,065,090,604[13] 8.0%[13]

Accounting principles

North Carolina Office of the State Auditor prepares and publishes audit reports as independent evaluations of the state's financial records and public program performance. Beth A. Wood was elected State Auditor in 2008.[14][15]

Credit Rating Fitch Moody's S&P
North Carolina[16] AAA Aaa AAA

See also

North Carolina state budget and finances

Footnotes

  1. ↑ 1.0 1.1 The Charlotte Observer "State budget saves 1,600 teacher jobs, cuts spending" June 29, 2010 (dead link)
  2. ↑ 2.0 2.1 2.2 MyNC.com "Perdue Signs $19B State Budget Bill On Time" July 1, 2010
  3. ↑ State Budget Solutions “States Hide Trillions in Debt” July 22, 2010
  4. ↑ North Carolina Office of State Budget and Management, Summary of Recommendations
  5. ↑ USA Spending, State Guesstimated* Government Spending
  6. ↑ FY2011 CAFR
  7. ↑ 7.0 7.1 The News & Observer "Perdue proposes $19 billion budget" April 20, 2010
  8. ↑ www.wral.com "NC governor rolls out changes for $19B budget" April 20, 2010
  9. ↑ The Greensboro News-Register "Budget, jobs top state's agenda" May 9, 2010
  10. ↑ North Carolina Office of State Budget and Management, "About the Budget," accessed June 5, 2009
  11. ↑ Businessweek "3 years in, NC Legislature watchdog making a mark" August 9, 2010
  12. ↑ Program Evaluation Reports
  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 State of North Carolina, "Historical budget data," March 2009
  14. ↑ North Carolina Office of the State Auditor Web site, accessed November 4, 2009
  15. ↑ audit reports
  16. ↑ State of Indiana, “State Credit Ratings-as of June 24, 2009"
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