JLBC - Monthly Fiscal Highlights

1716 W. Adams
Phoenix, AZ 85007
Phone:
(602) 926-5491
Fax:
(602) 926-5416

www.azleg.gov/jlbc.htm

“For all of FY
2008, preliminary
General Fund
revenue
collections are
$(356.4) million
below forecast”.

July 2008

Summary
Preliminary June General Fund revenue
collections were $1.54 billion, including close
to $600 million in budget balancing fund
transfers. Excluding these one-time revenues,
June collections were (6.7)% below June of
last year. With this adjustment, June would
mark the eighth consecutive month of
negative collections compared to the prior
year.
Preliminary June collections were $(78.0)
million below the forecast used for the recently
enacted FY 2008 budget revisions. For all of
FY 2008, preliminary General Fund revenue
collections are $(356.4) million below forecast.
(See Table 1 and page 9 for more information).
For the entire fiscal year, preliminary General
Fund revenues equaled $9.57 billion. After
adjusting for the fund transfers, full year
collections are down (6.8)% when compared
to FY 2007. Excluding the FY 2008 tax
reductions, base revenues fell closer to (3.7)%.
This was the largest decline in base revenues
since FY 2002 when revenues declined (5.7)%.
Among the major revenue categories:
• June sales tax collections were down (6.9)%
compared to June 2007 and were $(93.2)
million short of the monthly forecast. Sales
tax revenues dropped (2.3)% during all of FY
2008. Full year sales taxes had not declined
since 1981, when the sales tax on food was
eliminated.
• June individual income tax collections were
down (3.5)% compared to June 2007 and
were $(4.6) million below forecast. Overall,

individual income tax revenues dropped
(9.1)% for the full year.
• One of the few bright spots in June was
corporate income tax collections, which
were up 16.8% from June 2007. For the
entire year, however, corporate income tax
collections declined (20.1)%.
FY 2008 Budget Reserves
When the FY 2008 budget revisions were
enacted in April (Laws 2008, Chapter 53),
revenues were in the process of declining
faster than expected. As a result, Chapter 53
provided a contingency of $370 million to
address any year-end shortfalls.
The $370 million includes $152 million in surplus
cash funds. (Chapter 53 generated budget
solutions greater than the anticipated shortfall
at the time.) In addition, Chapter 53 permitted
the use of the $218 million remaining in the
Budget Stabilization Fund (BSF).
Revertments
Revenues by themselves do not determine the
overall General Fund surplus or shortfall. The
level of spending below appropriations
(otherwise known as “revertments”) also
affects the year-end balance. Chapter 53
assumed $85 million in FY 2008 revertments.
Preliminary revertments, however, are
significantly higher than expected. State
agencies reverted $189 million, or a savings of
$104 million above the budgeted amount.
While most large agencies report monthly on
their projected level of unspent
appropriations, their actual revertments

Table of Contents
June Revenues........................................................ 2
This report has been
prepared for the Arizona
Legislature by the Joint
Legislative Budget
Committee Staff on July 31,
2008.

Recent Economic Indicators ................................ 3
Summary of Recent Agency Reports
• Commerce - Science Foundation................... 7

•
•
•
•

ADC– Bed Plan .................................................... 7
DES –Coolidge Residents................................... 7
ADE – AIMS Contract Changes........................ 7
Proposition 300 Report ....................................... 8

JLBC – MONTHLY FISCAL HIGHLIGHTS – JULY 2008

Summary

(Continued)

substantially exceeded their last estimate:
• The Department of Education reverted $97
million, compared to their June forecast of
$22 million. This unusually high revertment
may partially reflect lower than expected
K-12 enrollment.
• AHCCCS returned $54 million to the General
Fund, while they had projected saving $15
million.
• The Department of Economic Security had
$8 million in unspent appropriations, while
they had reported no potential revertment
in their last monthly report.
• The Department of Health Services reverted
$6 million after having reported a $13 million
shortfall in June.
In addition, the Department of Corrections
and the Department of Public Safety each
had approximately $6 million in revertments.
The mismatch between agency estimates
and actual revertments may indicate that
more FY 2008 bills are still to be paid sometime
in FY 2009. For example, approximately half
of the ADE revertment will be paid to schools
in FY 2009 as a technical adjustment to their
FY 2008 formula requirement.

Impact on BSF Transfer
The larger-than-expected revertment savings
somewhat offset the $(356) million revenue loss.
Combining these two factors and technical
adjustments, the state’s shortfall is preliminarily
projected to absorb $252 million of the $370
million in reserves. The state will first spend
down the $152 million in surplus cash and will
then use $100 million of the BSF to leave a $1
million General Fund ending balance.
Given that there was a balance of $218 million
in the BSF, this will leave the rainy day reserve
with $118 million for FY 2009. The FY 2009
budget already had set aside $20 million of
that amount for use in balancing that year’s
budget.
JLBC/OSPB Estimate – Chapter 53 requires that
JLBC and OSPB jointly determine the amount
that shall be transferred from the BSF to the
General Fund. While the current estimated
transfer is $100 million, that amount could
change based on further JLBC-OSPB review of
the data. State agencies were able to pay FY
2008 claims with FY 2008 funds through July
18th. As a result, the fiscal year-end
reconciliation process is still occurring. Any
additional adjustments, however, are
expected to reduce the size of the shortfall.
JLBC/JCCR Meetings – There were no JLBC or
JCCR meetings in July.

June Revenues
Table 1

“…sales tax

General Fund Revenues
Compared to Enacted Forecast and FY 2007 Collections
($ in Millions)
FY 2008
Difference From
Difference
Collections
Chapter 53 Forecast
From FY 2007
June
$1,541.6
$(78.0)
$ 495.6
Year-to-Date
$9,566.7
$(356.4)
$(59.0)

revenues are
down (2.3)%
compared to last
year”.

2

Sales Tax collections were $298.8 million in
June. This amount was down (6.9)% compared
to last June, and was $(93.2) million below
forecast. For the entire fiscal year, sales tax
revenues are down (2.3)% compared to last
year.
In the retail and contracting sector, June sales

fell compared to the prior June for the
second straight year. Retail sales dropped
(5.1)% from June 2007, which was (0.7)%
below June 2006. There had been some
speculation that sales might improve as
federal income tax rebate checks were
delivered, but that theory has yet to prove
itself in Arizona.

JLBC – MONTHLY FISCAL HIGHLIGHTS – JULY 2008

June Revenues

(Continued)

The housing market collapse continues to
drag down the contracting sector of the sales
tax. Contracting taxes dropped (13.6)% from
June 2007, which had already declined (3.0)%
from June 2006. Use taxes dropped even
more, (34.7)%, but that has been attributed to
a large taxpayer refund.
Table 2 displays the June and year-to-date
growth rates for the largest categories.
Table 2

Sales Tax Growth Rates
June
Year-to-Date
Retail
(5.1)%
(4.4)%
Contracting
(13.6)%
(10.3)%
Utilities
4.0%
7.2%
Use
(34.7)%
12.5%
Restaurant & Bar
6.4%
0.4%

“FY 2008 income
tax collections
were (9.1)%,
below last year
and $(138.7)
million short of
the individual
income tax
forecast”.

3

While retail and contracting activity explains
a portion of the sales tax drop, estimated
payments also played a role. In June, the
largest retailers are required to pay a portion
of their July sales tax payment a month early.
At this time each year, the Department of
Revenue calculates the impact of this
payment shift as part of June revenues. This
calculation typically helps the bottom line as
sales grow from one summer to the next. In
this circumstance, however, the steep June
decline was further worsened by the
estimated payment factor.
In addition, Laws 2006, Chapter 351 increased
the cap over which businesses are required to
make a June estimated sales tax payment
from $100,000 to $1.0 million, effective in FY
2007. It now appears that some vendors did
not take advantage of this provision until this
year, which further reduced June collections.
Individual Income Tax collections were $301.0
million in June, or (3.5)% below last year. June
collections were $(4.6) million less than
forecast.
FY 2008 income tax collections were (9.1)%,
below last year and $(138.7) million short of the
individual income tax forecast. The (9.1)%
reflects the additional (5.0)% income tax rate
reduction that took place during the year.
Without the reduction, income tax collections
would have declined approximately (4.1)%.
Table 3 displays the June and year-to-date
growth rates for individual categories.

Table 3

Individual Income Tax Growth Rates
June
Year-to-Date
Withholding
0.7%
1.5%
Estimated +
(13.6)%
(12.9)%
Final Payments
Refunds
(12.0)%
14.9%
June withholding increased by 0.7% compared
to last year, which brought the fiscal year total
to 1.5% over the prior year.
Corporate Income Tax collections were $150.5
million, or 16.8% above last year. This amount
is $23.5 above the recently enacted budget
forecast for the month of June.
Collections for all of FY 2008 are down (20.1)%
from the prior year. While June collections
exceeded the prior year and the forecast for
the month, collections for the fiscal year are
$(27.2) million below the forecast.
The yearly performance of Other Tax and
Revenue collections is as follows:
• Luxury tax collections were down (7.3)%.
• Lottery collections decreased (8.5)%.
• Interest collections were down (9.0)%.
• Insurance premium taxes increased 1.8%.
• The sale of unclaimed securities generated
more funds than expected. Laws 2007,
Chapter 260 permitted the Department of
Revenue to sell securities in the Unclaimed
Property Fund and deposit the proceeds
into the General Fund. Unclaimed property
security sales were forecasted to be $45.0
million, but have generated $47.1 million.
• Most of the budget balancing fund transfers
have been deposited into the General
Fund. The FY 2008 budget plan provided for
a total of $782.8 million in transfers, including
$487.0 million from the Budget Stabilization
Fund, and $295.8 million in agency fund
balance sweeps. Actual transfers to date
total $777.2 million, which is $(5.6) million
below the budget plan estimate.

JLBC – MONTHLY FISCAL HIGHLIGHTS – JULY 2008

4

Recent Economic Indicators
NATIONAL

“Arizona’s
unemployment
rate increased
from 4.4% to 4.8%
in June “.

ARIZONA

According to the Bureau of Economic
Analysis’ advance estimate of the real Gross
Domestic Product (GDP), the economy grew
at an annual rate of 1.9% in the 2nd quarter of
2008. The largest contributors to real GDP
growth were personal consumption
expenditures and net exports. In addition, the
GDP change for the 4th quarter of 2007 has
been revised downward from 0.6% to (0.2)%.

Arizona economic indicators remain largely
negative, especially with regard to
employment, housing, and consumer
confidence.

After falling to a 16-year low in June, the
Conference Board’s U.S. Consumer
Confidence Index improved slightly in July.
The month-over-month increase of 1.8% was
believed to reflect better expectations for
business conditions and incomes. Compared
to last year, the index is down (53.6)%.

June total statewide non-farm employment
decreased month over month by (1.8)%, and
year over year by (1.2)%. At the aggregate
level, the goods-producing sectors of the
economy have decreased by (8.4)% since
last year compared to an increase of 0.1% for
the service-providing sectors.

The U.S. Index of Leading Economic Indicators
declined by (0.1)% in June. Four of the 10
components that make up the composite
index increased in June. The positive
contributors – beginning with largest positive
contributor – were building permits, interest
rate spread, vendor performance, and
manufacturers’ new orders for consumer
goods. The negative contributors – beginning
with the largest negative contributor – were
real money supply, stock prices, average
weekly initial claims for unemployment
insurance, average weekly manufacturing
hours, consumer expectations, and
manufacturers’ new orders for nondefense
capital goods.

Construction employment decreased by
(0.4)% in June and by (14.3)% year-over-year.
This means that there were 33,100 fewer
individuals working in the construction sector
than a year ago.

U.S. semiconductor billings (3-month moving
average) increased by 1.8% in May and by
5.2% compared to last year. The
Semiconductor Industry Association attributed
at least part of the increase to the distribution
of tax rebate checks to millions of American
households.
The U.S. Consumer Price Index (CPI) (3-month
moving average) increased by 0.6% in June.
The year-over-year increase was 4.3%. For
June alone, the CPI increased by 1.1%, which
was the largest monthly increase in 26 years.
Most of this surge was fueled by energy and
food prices.

Arizona’s unemployment rate increased from
4.4% to 4.8% in June. This is the highest rate of
unemployment reported since September
2004.

Although manufacturing employment
increased by 0.2% in June, it still remained
(2.1)% below the level reported in June 2007.
The manufacturing sector has shed 3,900 jobs
in the last 12 months.
The number of authorized building permits (3month moving average) statewide between
March and May, totaled 2,671, including
1,965 single-family residential building permits
and 706 multi-family building permits. The
number of permits authorized in the single
family segment increased 4.7% over the prior
period, while the number of permits in the
multi-unit segment increased 14.5%. Despite
these increases, permitting activity year-overyear in the single-family and multi-family
segments are down (52.7)% and (13.7)%,
respectively.
The Real Estate Center at Arizona State
University reported statistics in June that
reflect both traditional transactions and
foreclosed transactions.
Based on the report, The Greater Phoenix
single-family median resale home price in
June for traditional and foreclosed properties
was $218,000 and $169,890, respectively. The

JLBC – MONTHLY FISCAL HIGHLIGHTS – JULY 2008

Recent Economic Indicators
number of single-family homes sold
decreased (0.1)% from a year ago in the
traditional market, to 4,565 homes. Sales of
foreclosed homes, however, totaled 3,275—
an increase 469.6% from a year ago.
In June, the townhouse-condominium median
price was $164,950 for traditional transactions
and $133,215 for foreclosed transactions. At
these levels, the median price for traditional
and foreclosed sales declined (8.4)% and
(16.1)%, respectively, from a year ago. Yearover-year, the number of townhousecondominium units changing ownership
included 625 traditional sales and 230
foreclosed sales. The 855 combined
transactions fell (29.6)% from June 2007 levels.
The Phoenix metropolitan area supply of
housing indicator, a ratio between the
number of homes listed for sale on the Arizona
Regional Multiple Listing Service (ARMLS) and
the number of homes sold in a given month,
improved slightly in June, indicating it would
take 9.4 months to sell the current inventory of
homes. At its current level, the indicator is
(0.2) below levels seen last month, and (0.1)
months below June 2007 levels. The measure
however, has significantly improved from an
inventory high of 19.6 months seen in January
2008.
“Sales of
foreclosed
homes
however,
totaled
3,275—an
increase
469.6% from
a year ago”.

The Arizona Business Conditions Index (BCI)
fell by (3.3)% in June to 46.7 and is down
(18.1)% compared to last year. As noted
earlier, a reading below 50 suggests a
slowdown in the overall level of economic
activity in the near term. Of the 5
components that make up the composite
index, all but one (delivery time on placed
orders) had a reading of less than 50. (Note
that beginning next month, the JPMorgan
Chase Economic Outlook Center at the
Arizona State University will discontinue its
publication of both the Arizona Business
Conditions Index and the Arizona Index of
Leading Economic Indicators.)
An alternative measure of statewide business
sentiment is the University of Arizona’s Business
Leaders Confidence Index (BLCI). In the 3rd
quarter of 2008, the BLCI improved by 1.6
points to 38.5. Despite the increase from the
prior quarter, at its current level, the index is
(23.8)% below the index a year ago , and
4.3% above the prior quarter.

5

(Continued)

The Behavior Research Center’s Arizona
Consumer Confidence Index fell 6.4 points in
the 1st quarter of 2008, to 73.4. At this level,
the index is (31.0)% below the comparable
quarter a year ago and is at its lowest reading
since 1992. Since the last quarter, the index
fell in every region of the state, and is being
heavily influenced by a significant lack of
confidence in the current economy, business,
and employment.
AHCCCS caseloads in July increased by 0.38%
(or 4,206 members) from June levels, totaling
1,114,634 members. Year-over-year, the
AHCCCS caseload increased by 60,663
members, or 5.8%.
There were a reported 79,270 TANF recipients
in the state in May, which represented an
increase 0.7% over April and 0.9% over May
last year. By way of comparison, the FY 2008
state budget was premised on 84,700
recipients.
The Department of Corrections’ (ADC) inmate
population increased by an average of 178
inmates per month between April and June, to
an average population of 38,770 inmates. For
all of FY 2008, however, ADC’s population
increased by 151 inmates per month
compared to their funded growth of 160
inmates per month.

JLBC – MONTHLY FISCAL HIGHLIGHTS – JULY 2008

Recent Economic Indicators

(Continued)

Table 5

RECENT ECONOMIC INDICATORS
Indicator
Arizona
- Unemployment Rate
- Non-Farm Employment – Total
Manufacturing
Construction
- Contracting Tax Receipts (3-month average)
- Retail Sales Tax Receipts (3-month average)
- Residential Building Permits (3-month moving average)
Single-unit
Multi-unit
- Greater Phoenix Existing Home Sales
Single-Family, Traditional Sales
Single-Family, Foreclosed Sales
Townhouse/Condominium, Traditional Sales
Townhouse/Condominium, Foreclosed Sales
- Greater Phoenix Median Home Sales Price
Single-Family, Traditional Sales
Single-Family, Foreclosed Sales
Townhouse/Condominium, Traditional Sales
Townhouse/Condominium, Foreclosed Sales
S&P/Case-Shiller Home Price Index
- Months Supply of Housing (ARMLS)
- Phoenix Sky Harbor Air Passengers
- Arizona Average Natural Gas Price
($ per thousand cubic feet)
- Leading Indicators Index
- Business Conditions Index
(>50 signifies expansion)
- Consumer Confidence Index
- Business Leaders Confidence Index
- Arizona Personal Income
- Arizona Population
- AHCCCS Recipients
- TANF Recipients
- DOC Inmate Growth (3-month average)
United States
- Real Gross Domestic Product
(seasonally adjusted annual growth rate)
- Consumer Confidence Index
- Leading Indicators Index
- U.S. Semiconductor Billings (3-month moving average)
- Consumer Price Index, SA (3-month moving average)

Time Period

Current Value

Change From
Prior Period

Change From
Prior Year

June
June
June
June
Apr-Jun
Apr-Jun

4.8%
2.61 million
178,500
198,000
$67.7 million
$161.6 million

0.4%
(1.8)%
0.2%
(0.4)%
5.0%
1.5%

1.2%
(1.2)%
(2.1)%
(14.3)%
(14.9)%
(7.9)%

Mar-May
Mar-May

1,965
706

4.7%
14.5%

(52.7)%
(13.7)%

June
June
June
June

4,565
3,275
625
230

5.8%
13.1%
(8.1)%
4.5%

(0.1)%
469.6%
(46.8)%
475.0%

June
June
June
June
May
June
May
March

$218,000
$169,890
$164,950
$133,215
157.32
9.4 months
3.5 million
$9.86

(2.7)%
(2.9)%
(2.9)%
(1.8)%
(2.5)%
(0.2) months
(0.8)%
12.2%

(17.7)%
(24.8)%
(8.4)%
(16.1)%
(26.5)%
(0.1) months
(4.5)%
3.5%

January
June

119.1
46.7

0.3%
(3.3)%

(0.6)%
(18.1)%

1st Quarter 2008
3rd Quarter 2008
1st Quarter 2008
July 1, 2007
July
May
Apr-Jun

73.4
38.5
$213.9 billion
6.34 million
1,114,634
79,270
38,770

(8.0)%
4.3%
1.1%
173,066
0.38
0.7%
178 inmates

(31.0)%
(23.8)%
3.8%
2.8%
5.8%
0.9%
1,968 inmates

2nd Quarter 2008

$11.7 trillion

1.9%

1.8%

July
June
Mar-May
Apr-Jun

51.9
101.7
$3.52 billion
215.4

1.8%
(0.1)%
1.8%
0.6%

(53.6)%
(2.1)%
5.2%
4.3%

6

JLBC – MONTHLY FISCAL HIGHLIGHTS – JULY 2008

7

Summary of Recent Agency Reports
Arizona Department of Commerce – Science
Foundation Arizona Report – Science
Foundation Arizona (SFAz) is required to report
quarterly on its activities. SFAz reported that
total commitments increased from $35.4
million to $38.5 million or $3.1 million in the
fourth quarter of FY 2008. The change is due
to an increase in research and development
grants from $12.0 million to $15.1 million.
Arizona Department of Corrections – Report
on Bed Plan – The Department of Corrections
(ADC) has provided a report to JLBC Staff
with updated information related to their bed
plan. Laws 2007, Chapter 261 authorized the
Arizona Department of Administration (ADOA)
to contract for 2,000 new private prison beds
as well as the construction of 4,000 new
public beds. The latter is to be funded via a
20-year, $200 million lease-purchase
agreement.
2,000 Private Beds
On May 29, 2008, ADC and ADOA requested
Management and Training Corporation (MTC)
to secure all required insurance and bonds as
specified under their contract for 2,000 new
private prison beds located in Kingman, AZ.
MTC anticipates securing financing by
September 2008, at which time the Notice to
Proceed for Construction will be issued. After
16 months of construction, Arizona inmates
would be transferred to the facility in January
2010.
4,000 Public Beds
During the fourth quarter, ADOA secured
financing totaling $199,855,000 to design and
build the 4,000 state operated prison beds. In
addition, the programming, conceptual
design and estimate (which is currently within
budget), and the schematic design have
been completed.
Currently, work is underway to complete the
schematic estimate as well as the design
development estimate. Upon completion,
ADOA and ADC plan to present the project
to JCCR. Subsequently, a guaranteed
maximum price will be provided by the
construction manager at risk. ADOA, in
consultation with the construction manager
at risk and architect, have determined that a
phase-in of the beds will be more costly. As a
result, the current construction schedule
indicates the construction of all 4,000 beds
would be finished in February 2010.

Provisional Beds
Beyond the private and public beds, ADC is
also renting temporary provisional beds. The
recent changes include:
•
•

The ADC Procurement Office is finalizing
the re-release of a solicitation for up to
600 low-custody provisional beds.
Construction increasing the capacity
from 917 beds to 2,000 beds at the Great
Plains Correctional facility in Hinton,
Oklahoma, has been further delayed
from September 2008 to December 2008.
ADC has full-year funding for 1,340 beds
at this facility, as well full-year funding to
replace the 1,260 beds previously
contracted for in Indiana. Increasing the
capacity to 2,000 in Oklahoma would
replace 660 of the 1,260 beds lost in
Indiana.

Department of Economic Security – Report on
Arizona Training Program at Coolidge (ATP-C)
Campus and Other Placements – A footnote
in the FY 2008 General Appropriation Act
requires the Department of Economic Security
(DES) to report on placements of
developmentally-disabled (DD) clients into
state-owned Intermediate Care Facilities for
the Mentally Retarded (ICF-MR) or at the ATPC campus in FY 2007. DES reports that there
were no new permanent placements at the
ATP-C campus, but that there was 1 new
placement into a state-operated ICF-MR in
Phoenix in FY 2008. This person was admitted
based on the need for 24-hour nursing that
required an ICF-MR level of care and
because the guardian declined placement
into a private ICF-MR.
Arizona Department of Education – Report on
AIMS Contract Changes – A General
Appropriation Act footnote states that
“Before making any changes to the
Achievement Testing program that will
increase program costs, the State Board of
Education shall report the estimated fiscal
impact of those changes to the JLBC.” In this
regard, the Arizona Department of Education
(ADE) recently reported that FY 2009 changes
will cost $400,000 more than expected.
It is unclear whether additional General Fund
funding would be needed for AIMS in FY 2009
under the revised ADE estimates, as federal
and Proposition 301 funds may be able to
cover at least part of the additional costs.

JLBC – MONTHLY FISCAL HIGHLIGHTS – JULY 2008

Summary of Recent Agency Reports
The current AIMS contract expires at the end
of FY 2009. Section 65 of the Education BRB
for FY 2009 (Laws 2008, Chapter 287) stipulates
than any subsequent AIMS contract shall not
exceed 1 year in duration.
Proposition 300 Report
Public Programs Eligibility Report – As enacted
in the 2006 election, Proposition 300 limits
participation in certain state programs to
citizens, legal residents, or other persons
lawfully present in the United States and
requires semi-annual reports to the JLBC.
Below is a summary of the reports:
Community Colleges
District-wide, the community colleges
reported a total of 226,585 students classified
as in-state. They reported 4,922 students who
were not entitled to be classified as in-state
because of a lack of lawful immigration
status. Additionally, 54,837 students applied
for financial aid. Of those who applied, the
community colleges reported that 327 were
not entitled to any aid because they were not
lawfully present in the United States.
Universities
At the 3 universities, 115,150 students
registered for the spring 2008 semester. Of the
total students registered, the universities were
able to verify the legal immigration status of
105,719 students. Additionally, the universities
reported that 7,672 of these students did not
require verification because they have either
not requested, or received in-state tuition or
state supported financial aid. The universities
reported that a total of 198 students were
unverifiable due to their inability to provide
the requisite documentation.
Department of Economic Security
The department reported that 12,116
applications were received for child care
assistance. Of this number, 35 were denied
because criteria for citizenship or legal
residency were not met.
Arizona Department of Education
The department reported that 16,773 people
applied for instruction in Arizona Adult
Education during the reporting period of
January 1, 2008 to May 31, 2008. Of this
amount, 771 were denied instruction because
they failed to provide acceptable evidence
of citizenship or legal residence in the U.S.

8

(Continued)

Additionally, the Family Literacy Program
reported a total of 485 applicants for services.
Of this amount, 346 were not eligible for
enrollment.

JLBC – MONTHLY FISCAL HIGHLIGHTS – JULY 2008

9

State of Arizona
General Fund Revenue:

Change from Previous Year and Enacted Forecast
June 2008
Current Month

FY 2008 YTD (Twelve Months)

Change From
Actual

June 2007

June 2008

Amount

Change from
Actual

Forecast
Percent

Amount

Percent

June 2008

June 2007
Amount

Forecast
Percent

Amount

Percent

Taxes
Sales and Use
Income - Individual
- Corporate
Property
Luxury
Insurance Premium
Estate
Other Taxes
Sub-Total Taxes

$298,794,828

($21,985,495)

300,972,666

(10,763,154)

150,451,199
4,822,879
4,997,183
75,506,395
200
195,101

(6.9) %

($93,192,881)

(3.5)

(4,608,256)

21,626,655

16.8

23,543,175

(1,833,075)

(27.5)

(1,483,909)

(508,068)

(9.2)

(1,080,007)
(161,442)

3,430,810

4.8

(20,494)

(99.0)

33,522

156,872

410.3

147,108

$835,740,451

($9,895,949)

14,644,300

(1,710,400)

(1.2) %

($76,802,690)

(23.8) %

$4,353,564,848

($104,065,994)

3,406,483,318

(340,903,619)

18.6

784,510,781

(23.5)

20,041,338

(17.8)
(0.2)

(1.5)

-306.5
(8.4) %

(2.3) %

($172,704,452)

(3.8) %

(9.1)

(138,738,782)

(197,658,783)

(20.1)

(27,185,919)

(3.3)

(4,444,687)

(18.2)

(3,958,662)

(16.5)

61,037,200

(4,771,627)

(7.3)

(2,091,000)

(3.3)

407,042,995

7,225,951

1.8

(7,313,205)

(1.8)

320,203

870,967

1,484,754

156,284

$9,034,485,437

($643,591,508)

-11.8
(6.6) %

(3.9)

85,403

36.4

884,754

147.5

($351,021,863)

(3.7) %

Other Revenue
Lottery
License, Fees and Permits
Interest
Sales and Services

3,995,648

720,307

(10.5)
22.0

2,298,119
(269,806)

18.6

48,449,619

(4,472,681)

(8.5)

3,724,319

8.3

(6.3)

37,771,088

(2,464,739)

(6.1)

(1,083,312)

(2.8)

9,591,482

(7,347,113)

(43.4)

6,857,058

250.8

95,066,979

(9,406,021)

(9.0)

7,228,079

8.2

12,621,313

(934,794)

(6.9)

(1,536,931)

(10.9)

57,251,586

(6,483,348)

(10.2)

(9,492,414)

(14.2)

Other Miscellaneous

13,858,151

(1,890,550)

(12.0)

(3,547,716)

(20.4)

45,719,257

1,284,381

2.9

Disproportionate Share

72,189,600

(40,937,700)

(36.2)

(1,380,700)

(1.9)

72,189,600

(40,937,700)

(36.2)

(98.0)

(1,266,539)

(90.2)

Transfers and Reimbursements
Sub-Total Other Revenue
TOTAL BASE REVENUE

136,867

(6,683,525)

127,037,361

(58,783,775)

(31.6) %

$962,777,812

($68,679,724)

(6.7) %

1,153,485
($75,649,205)

74.7

911,957
(1,380,700)

2.0
(1.9)

34,035,092

14,554,101

(1,821,808)

(5.1)

0.9 %

390,483,221

(47,926,007)

(10.9) %

(1,913,879)

(0.5) %

(7.3) %

$9,424,968,658

($691,517,515)

(6.8) %

($352,935,742)

(3.6) %

Other Adjustments
Urban Revenue Sharing

(57,044,911)

(11,109,023)

24.2

(17)

Budget Plan Transfers

586,783,481

526,702,981

876.7

(4,462,147)

47,132,471

47,132,471

2,000,000

1,550,000

578,871,041

564,276,429

-- %

(2,329,693)

$1,541,648,853

$495,596,705

47.4 %

($77,978,898)

Unclaimed Property
Liquor License Fee
Sub-Total Other Adjustments
TOTAL REVENUE

-344.4

0.0

(684,538,929)

(133,308,268)

(0.8)

777,186,032

717,105,532

2,132,471

4.7

47,132,471

47,132,471

0

0.0

2,000,000

1,550,000

(0.4) %

141,779,574

632,479,735

(4.8) %

$9,566,748,232

($59,037,780)

24.2

(29)

0.0

--

(5,585,968)

--

2,132,471

4.7

0

0.0

344.4

(0.7)

-- %

(3,453,526)

(2.4) %

(0.6) %

($356,389,268)

(3.6) %