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Wyoming state budget (2010-2011)
| Note: This article was last updated in 2011. Click here for more recent information on state budgets and finances. |
Wyoming was projected to have a budget gap of $31.8 million for FY 2010[1].
Wyoming had a total state debt of $1,699,484,012 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]
| Total spending | Pension | Healthcare | Education | Welfare | Protection | Transport | Debt |
|---|---|---|---|---|---|---|---|
| $4.5 | $0.4 | $0.9 | $0.7 | $0.5 | $0.4 | $0.5 | $1.3 |
| Total spending | Pension | Healthcare | Education | Welfare | Protection | Transport | Debt |
|---|---|---|---|---|---|---|---|
| $5.7 | $0 | $1.2 | $1.8 | $0.0 | $0.4 | $0.3 | $1 |
State budget 2011-12
- See also: Archived Wyoming state budgets
Supplemental budget
Then-Governor Dave Freudenthal announced that the state had $1 billion in liquid savings[4] He then proposed a supplemental budget providing cities and counties with an additional $50 million and an extra $50 million for state highways.[5] The supplemental budget also allocates $66.2 million toward making up a Medicaid funding shortfall and $83 million for energy research at the University of Wyoming.[4]
Regular state budget
The state legislature finalized $2.9 billion state funds budget for the biennium through mid-2012.[6] The $2.9 billion did not include federal funds for highway projects and other projects.[6]
The 2011-12 state budget can be found online.Cite error: Closing </ref> missing for <ref> tag
State budget 2010
Approximately $700 million was in available reserves at the end FY2010, which ended June 30, 2010.[6]
Budget background
- See also: Wyoming state budget and finances
Wyoming operates on a biennium budget. The biennium includes a 24-month period from July 1st of odd-numbered years to June 30th of odd-numbered years, such as the 2010-12 biennium, which runs from July 1, 2009 to June 30, 2011. All state agencies present their requests and past revenue and expenditure data by September or October for the Governor's consideration. The Consensus Revenue Estimating Group meets in October and develops revenue forecasts for the upcoming biennium. Following this, the Governor compiles a recommended budget that must be presented to the Legislature by December 1 of each year. Both the House and the Senate host a series of hearings to work through the budget. Once both houses agree on the final budget bill the bill is passed into law.[7]
Budget figures
The following table provides a history of Wyoming's expenditures and gross domestic product (GDP).
| Fiscal Year | Expenditures (billions) | GDP (billions) |
|---|---|---|
| 2000 | $3.7[8] | $17.3[8] |
| 2001 | $4.0[8] | $18.2[8] |
| 2002 | $4.3[8] | $19.6[8] |
| 2003 | $4.7[8] | $21.7[8] |
| 2004 | $5.1[8] | $23.4[8] |
| 2005 | $5.6[8] | $26.6[8] |
| 2006 | $6.0[8] | $29.9[8] |
| 2007 | $6.4[8] | $31.5[8] |
| 2008 | $6.8[8] | $33.2[8] |
| 2009 | $7.2*[8] | $35.0*[8] |
- NOTE: The figures for FY 2009 won't be finalized until the end of the fiscal year.
- See Wyoming state budget (2008-2009) for more information.
Accounting principles
Wyoming's CAFRs were prepared by the Wyoming State Auditor. Rita C. Meyer was elected in 2006 Wyoming State Auditor, a constitutional office elected for a four year term by the general electorate of Wyoming. The Auditor was the State’s chief fiscal control officer. They maintain the central fiscal accounts, act as the official custodian of accounting records, serve as the state payroll officer, and order all payments into and out of the funds held in the state treasury.[9][10]
| Credit Rating | Fitch | Moody's | S&P |
| Wyoming[11] | NR | NR | AA+ |
See also
Wyoming state budget and finances
Footnotes
- ↑ Wyoming Consensus Revenue Estimating Group (CREG), "Wyoming State Government Revenue Forecast Fiscal Year 2010 - Fiscal Year 2014," October 2009
- ↑ State Budget Solutions “States Hide Trillions in Debt” July 22, 2010
- ↑ 3.0 3.1 USA Spending, State Guesstimated* Government Spending
- ↑ 4.0 4.1 [The Billings Gazette "Freudenthal proposes more money for counties, cities, towns and highways" Nov. 16, 2010]
- ↑ The Wyoming Tribune Eagle "Supplemental budget to include more for roads, municipalities" Nov. 16, 2010
- ↑ 6.0 6.1 6.2 The Los Angeles Times "Rebounding Wyoming economy, led by energy industry, boosts state revenue projections" Oct. 22, 2010 (dead link)
- ↑ State of Wyoming, "Explanation of Wyoming's budget process," accessed August 9, 2010
- ↑ 8.00 8.01 8.02 8.03 8.04 8.05 8.06 8.07 8.08 8.09 8.10 8.11 8.12 8.13 8.14 8.15 8.16 8.17 8.18 8.19 US Government Spending, "Wyoming State and Local spending," accessed March 31,2009
- ↑ Wyoming State Auditor Web site, accessed November 18, 2009
- ↑ CAFRs
- ↑ State of Indiana, “State Credit Ratings-as of June 24, 2009"
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