JLBC - Monthly Fiscal Highlights

1716 W. Adams
Phoenix, AZ 85007

June 2009

Summary

Phone:
(602) 926-5491
Fax:
(602) 926-5416

www.azleg.gov/jlbc.htm

“May collections
were… $(67.6)

May General Fund revenue collections were
$457.8 million. This amount included $29.3
million in budgeted fund transfers from the
January Special Session. Excluding these
transfers and Urban Revenue Sharing, May
collections were (16.0)% below the prior year,
and $(67.6) million below the January revised
budget forecast.

The $650 million in budget shortfall solutions
enacted in Chapters 5 and 6, along with a $50
million budget carry-forward balance, allows
the state to cover a $700 million revenue
shortfall. (See May Monthly Fiscal Highlights for
more information).

For the first 11 months of FY 2009, General Fund
collections are down (18.4)% when compared
to last year (excluding Urban Revenue Sharing
and one-time transfers). The year-to-date
shortfall is $(731.5) million below the January
revised budget forecast. (See Table 2 and
page 3 for more information).

Despite these additional solutions, the state
may still have a $(200) million shortfall by the
end of FY 2009. While this is comparable to last
month’s estimate, the components of the
shortfall have shifted. The shortfall is a
combination of both revenue and spending
factors:

Sales taxes and individual income tax
withholding are the 2 main sources of revenue
collections. Sales tax revenues were (21.2)%
below May of last year, and withholding tax
collections were down (19.2)%.

•

Sales tax and withholding tax collections
combined were approximately $(89.0) million
below forecast for May. This shortfall was
partially offset by corporate income tax
collections, which were $21.3 million above
forecast. The increase in corporate revenues is
at least partially due to the tax amnesty
program implemented by the Department of
Revenue (DOR) for the month of May,
however, the final accounting of revenues
associated with the amnesty program will not
be available until the first week in July.

million below the
January revised
budget
forecast”.

FY 2009 Shortfall

•

The revenue shortfall may now be slightly
less than JLBC predicted in the last MFH.
Based on preliminary June data, we may
lose another $82 million for the month. If
this projection is correct, the revenue
shortfall for the fiscal year will be near
$(815) million, rather than the $(850) million
estimate last month.
The January special session included $591
million in fund transfers, but approximately
$48 million of that amount may not be
collected due to pending litigation or
unavailable balances. This amount is
increased from the $19 million included in
the May MFH due to a court decision to
place a temporary restraining order on the
transfer of $29 million of insurance
guaranty funds to the General Fund in
FY 2009.

Table of Contents
April Revenues ........................................................3

JCCR Meeting Summary

Economic Indicators ..............................................5

• ADOA – Review of ASH Project.................................. 7
• ADOA – Quarterly Rent Payments ............................ 7
• Game & Fish – Capital Improvement ............. 7

JLBC Meeting Summary
This report has been
prepared for the Arizona
Legislature by the Joint
Legislative Budget
Committee Staff on June
30, 2009.

•
•
•
•
•
•

ADOA – Exchange of Fund Transfers...............7
ADC – Transfer of Appropriations.....................7
DES – Exchange of Fund Transfers....................7
DES – Transfer of Appropriations.......................7
ADE – Request to Transfer..................................7
Secretary of State – Transfer of Funds ............7

Summary of Recent Agency Reports
• AHCCCS – Healthcare Group.......................... 8
• Economic Estimates Commission – BSF........... 8
• ADE – Budget Status Report.............................. 8

2

JLBC – MONTHLY FISCAL HIGHLIGHTS – JUNE 2009

Summary
•

“While the
current shortfall
estimate is $(200)
million, the
problem could
be as low as

The budget annually includes an estimate
of unspent appropriations, otherwise
known as "revertments." With the level of
reduced appropriations in FY 2009,
agencies will likely spend a greater
proportion of their appropriation, thereby
reducing the savings from year-end
revertments by an estimated $35 million.
This amount remains unchanged.

The revenue and expenditure shortfalls add to
$(900) million, and would be offset by the $650
million in enacted May solutions, plus the $50
million budgeted carry-forward for a possible
total net shortfall of approximately $(200)
million (see Table 1 below).
Table 1

$(150) million or
as high as $(250)
million”.

(continued)

million or as high as $(250) million. The actual
FY 2009 budget balance will ultimately depend
on the final level of June revenues and
expenditures.
Even on June 30th, there is no final estimate of
the ending balance. The state allows FY 2009
claims to be paid through July and still count
as an FY 2009 expenditure. The FY 2009 ending
balance will not be finalized until December
when the Department of Administration
publishes the state's Annual Financial Report.
JLBC/JCCR Meetings –The Monthly Fiscal
Highlights includes summaries of the June JLBC
and JCCR (page 7) meetings.

FY 2009 Estimated Shortfall
($ in Millions)

Revenue shortfall

$(815)

Fund transfer reduction

(48)

Net revertment loss

(35)

Gross Shortfall

(898)

Chapter 5/6 adjustments

650

Budgeted carry-forward

50

Net shortfall

$(198)

While the current shortfall estimate is $(200)
million, the problem could be as low as $(150)

May Revenues
Table 2

General Fund Revenues
Compared to Forecast and FY 2008 Collections
($ in Millions)

May
Year-to-Date

FY 2009
Collections
$ 457.8
$ 6,838.5

Difference From
June ’08 Forecast 1/
$ (149.5)
$ (2,082.1)

____________
1/ Enacted FY 2009 budget (June 2008).
2/ Revised JLBC Baseline

Difference From
Jan ’09 Forecast 2/
$ (67.6)
$ (731.5)

Difference
From FY 2008
$ (238.9)
$ (1,184.5)

3

JLBC – MONTHLY FISCAL HIGHLIGHTS – JUNE 2009

May Revenues

(continued)

Sales Tax collections were $278.9 million in
May. These revenues were down (21.2)%
compared to last May, and were $(48.5) million
below the budget forecast. Sales tax
collections are down (13.7)% through the first
11 months of the fiscal year. The May decline
marked the 16th consecutive month of yearover-year reductions, and the 7th consecutive
month of double digit declines compared to
the previous year.
Table 3 displays the May growth rates for the
largest categories.
“Sales tax

Table 3

collections are
down (13.7)%
through the first
11 months of the

Sales Tax Growth Rates
Compared to Prior Year

Retail
Contracting
Utilities
Use
Restaurant & Bar

May
(13.5)%
(42.5)%
(3.5)%
(29.9)%
(8.5)%

YTD
(12.3)%
(25.1)%
0.8%
(13.2)%
(5.7)%

fiscal year”
As noted in previous months, retail and contracting together account for two-thirds of all
sales tax revenues. The retail sector decreased
by (13.5)% in May, and contracting fell by
(42.5)%.
As noted in Table 4, through May, taxable sales
in the retail category are down (12.3)% from
the prior fiscal year. The largest subcategory
within retail is the General Merchandise and
Miscellaneous Retail category, which is down
(7.2)%. The largest subcategory decline is in
Motor Vehicles, which represents 20.7% of the
total, and is down (32.7)% compared to the
prior year.
Individual Income Tax net revenues were $98.5
million in May. Collections were down (32.5)%
compared to the prior year, and were $(40.5)
million below the budget forecast. Table 5
displays May and year-to-date growth rates
for individual categories.
Table 5

Individual Income Tax Growth Rates
Compared to Prior Year

Withholding
Estimated +
Final Payments
Refunds

May
(19.2)%
(13.1)%

YTD
(7.6)%
(33.9)%

(6.4)%

10.8%

The large forecast variance in May was
primarily due to the decline in withholding tax
collections. The (19.2)% decline equals
February as the largest year over year declines
of the fiscal year.
This large decline occurred despite an
increase in withholding rates. As noted last
month, state withholding rates are tied to
federal withholding rates, which were reduced
early in the year as part of the federal stimulus
package. Laws 2009, Chapter 2 increased
state withholding rates to compensate for the
reduction in federal rates, effective no later
than May 1st.
Corporate Income Tax collections were $48.9
million in May, or 84.3% above last year.
Collections were $21.3 million above forecast
for the month. While collections were above
forecast, May is a relatively small collection
month for corporate income tax. Year-todate, collections are (21.8)% below last year.
As noted above, it is likely that some of the
increase in May corporate income collections
was the result of the 1-month tax amnesty
program implemented by DOR beginning May
1st. The initial estimate for the fiscal impact of
the program was $5 million, a portion of which
would be collected in the corporate income
tax category. DOR will publish final results of
the tax amnesty program in July 2009.
The Lottery Commission reports that ticket sales
for the month of May were $46.3 million, which
was $6.9 million above sales in May 2008. Yearto-date, ticket sales have increased by 1.9%
compared to last year. Through May, $31.0
million in revenue has been distributed to the
General Fund. Local Transportation Assistance
Fund II, Local Transportation Assistance Fund,
County Assistance Fund, and the Heritage
Fund have all reached their statutory caps.

4

JLBC – MONTHLY FISCAL HIGHLIGHTS – JUNE 2009

May Revenues
Table 4

(Continued)

YTD (11-Month) Taxable Retail Sales by Subcategory

General/Misc. Merchandise
Motor Vehicles/Misc. Auto.
Bldg Materials and Supplies
Food and Liquor Stores
Furniture, Home Furnishings
Clothing and Accessories
Manufacturing
Other Subcategories
Total

% of
Total Sales
30.6%
20.7%
7.4%
7.4%
6.9%
5.8%
5.6%
15.6%
100.0%

% Change
Over FY 2008
(7.2)%
(32.7)%
(14.7)%
(5.1)%
(16.2)%
(13.6)%
(13.7)%
2.4%
(12.3)%

Economic Indicators
NATIONAL
According to the third and final release of the
U.S. Real Gross Domestic Product (GDP) for the
1st quarter of 2009, the nation’s economy
contracted at annual rate of (5.5)% during this
period, an upward revision of 0.2% from last
month’s preliminary estimate. The upward
revision is primarily attributed to private
nonfarm inventory investment. The increase
was partially offset, however, by downward
revisions to exports and to personal
consumption expenditures for services.
The Conference Board’s U.S. Consumer
Confidence Index, a measure based on a
survey of 5,000 U.S. households, retreated from
a revised reading of 54.8 in May to 49.3 in
June. Consumers’ relatively unfavorable
assessment of current conditions contributed
to the decline despite a “less negative”
assessment of future conditions.
The Conference Board’s U.S. Index of Leading
Economic Indicators increased by 1.2% in May,
following a 1.1% advance in April. This is the
indicator’s best consecutive performance
since November-December of 2001. Seven of
the 10 components that make up the index
improved during the month. The largest
positive contributors to the index were vendor
performance, stock prices, and money supply.
Consumer prices, as measured by the U.S.
Consumer Price Index (CPI), rose by 0.1% in
May. Year over year, the CPI is down by
(1.0)%, the largest price decline since April

1950. The core CPI, which excludes food and
energy prices, increased by 0.1% in May. The
corresponding year-over-year increase was
1.8%.
ARIZONA
According to the Commerce Department’s
monthly Workforce Report, nonfarm payroll
employment in May declined by (0.9)% from
April levels to 2.46 million. Compared to May
2008, nonfarm payroll employment has fallen
(7.1)%. This figure translates into a net loss of
(21,300) jobs from April and (188,400) jobs over
the last 12 months. Job losses in both the
public and private sector contributed to the
declines in May.
The construction sector lost (1,500) jobs
between April and May, resulting in a
workforce of 138,900. Year-over-year,
employment in this sector has decrease by
(28.2)%, or 54,500 jobs. The manufacturing
sector also saw job losses in May, but to a lesser
degree. Specifically, (700) jobs were lost
between April and May, while (8,900) jobs
were lost since May 2008. Total jobs in the
manufacturing sector now total 165,800.
The average weekly hours of production
workers in manufacturing industries is another
measure of labor market conditions. Economists consider this measure a leading
indicator since “factory hours” tends to lead
the business cycle as employers usually adjust
work hours before increasing or decreasing

5

JLBC – MONTHLY FISCAL HIGHLIGHTS – JUNE 2009

Economic Indicators
the size of their workforce. According to the
Department of Commerce, average weekly
hours increased from a revised level of 38.3 in
April to 39.1 in May. Since January, average
weekly hours worked has varied between 38.3
and 39.6.
Despite seeing an unexpected month-overmonth drop in the state’s unemployment rate
in April, the unemployment rate increased
from 7.7% in April to 8.2% in May. Following
suit, the U.S. unemployment rate increased to
9.4% in May from 8.9% in April. In Arizona, the
unemployment rate in May ranged from 7.3%
in the Flagstaff area to 19.0% in the Yuma
area. In Phoenix and Tucson the rates were
7.9% and 7.7% respectively.
The Department of Commerce reported that
34,839 initial claims for unemployment
insurance were filed in May, an increase of
61.8% over last year. Relative to last month,
however, claims fell by (15.2)%.
Based on data released by the U.S. Census
Bureau, an average of 1,035 building permits
were issued between March and May 2009.
This amount includes an average of 993
single-family residential building permits
authorized and 42 multi-family permits. In
percentage terms, the 993 single-family
permits represent an increase of 26.0% above
the prior month but a decrease of (49.5)%
over the same period a year ago. In the
multi-family segment, however, the 42 permits
authorized during the 3-month period
represented an unprecedented month-overmonth and year-over-year decrease of
(71.4)% and (94.1)%, respectively.
ASU’s real estate report indicates the Greater
Phoenix single-family median resale home
price was $135,000 in May and included 9,980
transactions. At these levels, the year-overyear change in price and volume was 38.4%
and (32.8)%, respectively. Since February, the
median resale price in May for foreclosed
properties ($150,090) was greater than
traditional properties ($130,000). Of the 9,980
single-family existing home sales in May,
6,945 (or 69.6%) were traditional transactions,
and 3,035 (or 30.4%) were foreclosed
transactions. Year-over-year, the number of
traditional transactions increased 61.0%, while
foreclosed transactions rose 4.8%.

(Continued)

Also included in ASU’s report were statistics
related to the townhouse-condominium
median resale price and transactions.
Specifically, in May there were 1,085 recorded
transactions with a median price of $114,900.
The number of units bought and sold
represents an increase of 20.6% above levels a
year ago, while the year-over-year median
resale price decreased (28.6)%.
A total of 3.3 million passengers entered and
exited aircraft at the Phoenix Sky Harbor
International Airport in April. This was a
decrease of (6.3)% from the same month in
the prior year. Year to date, air passenger
traffic is down by (9.9)%.
The S&P/Case-Shiller Home Price Index
measures the change in housing prices based
on repeat sales. In March, the home price
index in Phoenix was 104.45, (2.2)% below
March levels and (35.3)% below the same
month last year. In April, the 20 metropolitan
area index, including Phoenix, was (18.1)%
below levels a year ago. Phoenix, however,
remains the metropolitan area with the
largest year-over-year decline.
In June, AHCCCS caseloads increased to a
total of 1,255,424 members, a 2.5% increase
over the prior month. At current levels, the
AHCCCS caseloads are 13.1% above June
2008 levels. The revised FY 2009 budget
funded a projected caseload growth of 7.8%,
or a total of 1,234,901 members.
There were a reported 84,393 TANF recipients
in the state in April, a decrease of (1.4)%
from the prior month but a year-over-year,
caseload increase of 7.2%. The FY 2009
budget assumes the TANF caseload will grow
by 2.5%.
The Supplemental Nutrition Assistance
Program (SNAP), formerly known as Food
Stamps, provides assistance to low-income
households to purchase food. In April, there
were a total 839,351 food stamp recipients in
the state, an increase of 2.7% over the prior
month. Compared to the same month last
year, food stamp participation was up by
29.1%.
Between March and May 2009, the
Department of Correction’s (ADC) inmate
population increased by an average of 171

6

JLBC – MONTHLY FISCAL HIGHLIGHTS – JUNE 2009

Economic Indicators

(Continued)

inmates per month. ADC now has an average
population of 40,180 inmates, or 1,588 more
inmates than in the same period last year.
(Hans Olofsson, Martin Lorenzo)

Table 6

ECONOMIC INDICATORS
Indicator
Arizona
- Unemployment Rate
- Initial Unemployment Insurance Claims
- Non-Farm Employment – Total
Manufacturing
Construction
- Average Weekly Hours, Manufacturing
- 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 (Jan. 2000 = 100)
- Months Supply of Housing, (ARMLS)
- Phoenix Sky Harbor Air Passengers
- Arizona Average Natural Gas Price
($ per thousand cubic feet)
- Consumer Confidence Index (1985 = 100)
- Arizona Personal Income
- Arizona Population
- AHCCCS Recipients
- TANF Recipients
- SNAP (Food Stamps) Recipients
- DOC Inmate Growth (3-month average)
United States
- Gross Domestic Product
(Chained 2000 dollars, seasonally adjusted)
- Consumer Confidence Index (1985 = 100)
- Leading Indicators Index (2004 = 100)
- U.S. Semiconductor Billings (3-month moving average)
- Consumer Price Index, SA (1982-84 = 100)

Time Period

Current Value

Change From
Prior Period

Change From
Prior Year

May
May
May
May
May
May
Mar-May
Mar-May

8.2%
34,839
2.46 million
165,800
138,900
39.1
$41.1 million
$134.2 million

0.5%
(15.2)%
(0.9)%
(0.4)%
(1.1)%
2.1%
(2.3)%
2.1%

3.0%
61.8%
(7.1)%
(5.1)%
(28.2)%
(3.0)%
(36.2)%
(15.7)%

Mar-May
Mar-May

993
42

26.0%
(71.4)%

(49.5)%
(94.1)%

May
May
May
May

6,945
3,035
745
340

4.6%
23.4%
8.8%
25.9%

61.0%
4.8%
9.6%
54.5%

May
May
May
May
April
April
April
March

$130,000
$150,090
$110,000
$124,380
104.45
6.6 months
3.3 million
$8.19

1st Quarter 2009
1ST Quarter 2009
July 1, 2008
June
April
April
Mar-May

44.2
$211.5 billion
6.50 million
1,255,424
84,393
839,351
40,180

N/A
(0.7)%
146,759
2.5%
(1.4)%
2.7%
171 inmates

(58.4)%
(0.6)%
2.3%
13.1%
7.2%
29.1%
1,588 inmates

1st Quarter 2009

$11.4 trillion

(5.5)%

(2.5)%

June
May
Jan-Mar
May

49.3
100.2
$2.58 billion
212.876

(10.0)%
1.2%
5.1%
0.1%

(5.0)%
(1.8)%
(22.2)%
(1.0)%

4.0%
2.8%
(5.6)%
10.8%
(2.2)%
(1.4) months
(4.4)%
(1.2)%

(42.0)%
(14.2)%
(35.3)%
(8.3)%
(35.3)%
(5.7) months
(6.3)%
(16.9)%

7

JLBC – MONTHLY FISCAL HIGHLIGHTS – JUNE 2009

JLBC Meeting
Arizona Department of Administration – Review
of Requested Exchange of Fund Transfers – The
Committee gave a favorable review to the
Arizona Department of Administration’s
(ADOA) request to exchange nearly $3.3
million in fund transfers, primarily by transferring
monies from the Risk Management Revolving
Fund.

required by the FY 2009 Special Session budget
revisions.

Arizona Department of Corrections – Approval
and Review of Requested Transfer of
Appropriations – The Committee gave a
favorable review to the Department of
Corrections’ (ADC) request to transfer nearly
$28.4 million within ADC’s line items. In
addition, the Committee approved the ADC’s
request for Personal Services, and Employee
Related Expenditure transfers.

Department of Education – Review of
Requested Transfer of Appropriations – The
Committee gave a favorable review to the
department’s proposal to transfer $5 million in
surplus FY 2009 Basic State Aid monies to the
Special Education Fund in order to address
anticipated funding shortfalls.

Department of Economic Security – Review of
Requested Exchange of Fund Transfers – The
Committee gave a favorable review to the
Department of Economic Security’s (DES)
request to shift nearly $2.1 million between
funds in order to comply with fund transfers

Department of Economic Security – Review of
Requested Transfer of Appropriations – The
Committee gave a favorable review to DES’s
request to transfer nearly $13 million within
DES’s line items.

Secretary of State – Review of Requested
Transfer of Appropriations – The Committee
gave a favorable review to the Secretary of
State’s request to transfer $132,000 from
Election Services line item in FY 2009 to the
Election Systems Improvement Fund in order to
qualify for $3.7 million in federal funding under
the Help America Vote Act.

JCCR Meeting
Arizona Department of Administration – Review
of the Department of Health Service’s Arizona
State Hospital Forensic Unit Project – The
Committee gave a favorable review for
renovating the Arizona State Hospital’s (ASH)
24th Street entrance into the new secure main
entrance for the entire campus. The
remainder of the $32.2 million ASH project will
still require Committee review prior to
beginning construction.
Arizona Department of Administration –
Quarterly Rent Payments – The Committee
recommended a technical change in the
Osteopathic Board rent payment schedule.
Arizona Game and Fish Department – Review
of Capital Improvement Projects – The
Committee gave a favorable review to the
department’s request of $2,100,000 for the
following 3 capital improvement projects: 1)
$800,000 for the Black Canyon Dam
modification project; 2) $1,050,000 for the
Flagstaff Regional Office remodeling project;
and 3) $250,000 for the Mesa Regional Office
paving project. These monies were

appropriated by the FY 2006 – FY 2009 Capital
Outlay Bills, and were appropriated from the
Game and Fish Capital Improvement Fund.

8

JLBC – MONTHLY FISCAL HIGHLIGHTS – JUNE 2009

Summary of Recent Agency Reports
AHCCCS – Report on Healthcare
Group – Pursuant to A.R.S. § 362912AA, the Arizona Health Care
Cost Containment System (AHCCCS)
is submitting its quarterly financial
report for Healthcare Group (HCG)
for the period January 1, 2009 to
March 31, 2009. The agency reports
that HCG has an estimated net gain
of $2.8 million for the first 3 quarters of
FY 2009, of which about $690,000
was from the third quarter. HCG
began FY 2009 with total unpaid
prior year obligations and other
liabilities of $15.8 million, resulting in
total obligations of $13.0 million at
the present.
AHCCCS reports that as of March 31,
2009, total statewide HCG medical
plan enrollment was 15,422, with
participating members from 5,748
private employers. Since December
2008, enrollment has decreased by
(1,400) people. AHCCCS attributes
the enrollment decreases to the
economic downturn. (Amy Upston)
Economic Estimates Commission –
Report on the Budget Stabilization
Fund – Pursuant to A.R.S. § 35-144(F),
the Economic Estimates Commission
(EEC) is annually required to
calculate the amount of monies that
may be deposited to or withdrawn
from the Budget Stabilization Fund
(BSF). The EEC estimate is calculated
based on a formula that compares
the growth rate of real adjusted
Arizona personal income in the most
recent calendar year to the
average in the last 7 calendar years
(hereafter referred to as the “trend”
growth rate).
The formula recommends a BSF
withdrawal whenever the annual
adjusted personal income growth
rate is both less than the trend
growth rate and 2%. According to
an EEC report issued May 22, 2009,
the calendar year 2008 growth rate
was (0.98)% compared to the trend
growth rate of 3.22%. Since both
requirements for a fund withdrawal
were met, the BSF formula

recommends that $369.2 million be
transferred to the General Fund in
FY 2009. However, such a transfer
cannot be implemented since the
entire BSF balance has already been
used to help offset the FY 2009
budget shortfall. (Hans Olofsson)
Department of Education – Budget
Status Report – Pursuant to A.R.S. §
35-131D and a footnote in the
FY 2009 General Appropriation Act,
the Arizona Department of
Education (ADE) recently provided
an update regarding its budget
status for FY 2009. In that report, ADE
estimates that it will experience a
$50.3 million net funding surplus for
FY 2009. This figure assumes that
current year enrollment growth for
school districts will cost $70 million
(versus $130 million budgeted)
based on currently available data.
ADE indicates, however, that the $70
million estimate is subject to change
and potentially could increase as
additional data becomes available.
If so, the estimated $50.3 million
surplus would decrease accordingly.
(Steve Schimpp)

9

JLBC – MONTHLY FISCAL HIGHLIGHTS – JUNE 2009

State of Arizona
General Fund Revenue:

Change from Previous Year and January Baseline Forecast
May 2009
Current Month

FY 2009 YTD (Eleven Months)

Change From
May 2008

Actual
May 2009

Percent

Amount

Change from
Forecast

Actual
Percent

Amount

May 2008

Forecast
Percent

May 2009

Amount

$3,500,675,432

($554,094,588)

2,288,344,146

(815,073,648)

(26.3)

Percent

Amount

Taxes
Sales and Use
Income - Individual
- Corporate

278,889,778

($75,083,443)

98,543,700

(47,521,958)

(21.2) %

($48,522,022)

(14.8) %

(32.5)

(40,507,551)

(29.1)

(13.7) %

($182,071,488)
(564,065,327)

(4.9) %
(19.8)

48,932,104

22,387,252

84.3

21,257,304

76.8

495,620,238

(138,439,344)

(21.8)

9,817,513

2.0

Property

2,409,885

451,045

23.0

688,885

40.0

14,813,500

(404,959)

(2.7)

1,043,014

7.6

Luxury - Tobacco

2,259,349

(528,468)

(19.0)

(248,843)

(9.9)

27,300,178

(2,413,817)

(8.1)

(730,413)

(2.6)

2,244,358

(271,970)

(10.8)

(350,742)

(13.5)

26,549,837

0.9

(397,373)

(1.5)

30,307,715

(3,433,980)

(10.2)

(12,759,585)

(29.6)

330,659,802

(876,798)

(0.3)

--

210,372

(109,631)

(34.3)

106,059

101.7

1,128,259

(161,394)

(12.5)

626,150

124.7

$6,685,301,764

($1,511,350,363)

0.0

31,000,000

(2,805,319)

(8.3)

(26.0)

30,532,852

(3,242,588)

(9.6)

(3,289,449)

(9.7)
16.8

- Liquor
Insurance Premium
Estate
Other Taxes
Sub-Total Taxes

0

0

49,471

8,004

-19.3

$463,636,360

($103,993,518)

(18.3) %

Lottery

1,048,000

(1,102,200)

(51.3)

License, Fees and Permits

2,320,116

(527,575)

(18.5)

Interest

9,250,211

4,988,392

117.0

Sales and Services

3,401,413

204,032

6.4

Other Miscellaneous

6,032,924

4,190,834

227.5

0
2,471
($80,440,083)

5.3
(14.8) %

223,816

(18.4) %

(12,568,663)

($748,240,528)

(3.7)

(10.1) %

Other Revenue

Disproportionate Share
Transfers and Reimbursements
Sub-Total Other Revenue
TOTAL BASE REVENUE

0
(815,784)
8,004,611
(151,587)
3,319,024

0

0

--

0

3,448,304

3,220,676

--

2,448,304

25,500,968
$489,137,328

10,974,159
($93,019,359)

75.5 %
(16.0) %

12,804,568
($67,635,515)

642.6
(4.3)
122.3
-244.8

0

0.0

19,521,031

(65,954,466)

(77.2)

2,808,646

39,976,239

(4,654,034)

(10.4)

784,565

2.0

41,529,536

9,668,430

30.3

9,730,774

30.6

18,727,942

18,727,942

33,715,281

(182,944)

--

0

0.0

(0.5)

6,672,816

24.7

100.9 %

215,002,881

(48,442,979)

(18.4) %

(12.1) %

$6,900,304,645

($1,559,793,342)

(18.4) %

16,707,352
($731,533,176)

8.4 %
(9.6) %

Other Adjustments
Urban Revenue Sharing
'09 Budget Plan Transfers
'09 Budget Revision Transfers
Sub-Total Other Adjustments
TOTAL REVENUE

(60,639,783)
852,200
28,420,237
(31,367,346)
$457,769,982

(3,594,872)
(170,674,172)
28,420,237

6.3

0

0.0

(667,037,616)

(39,543,598)

6.3

0

0.0

(99.5)

0

0.0

252,278,065

61,875,514

32.5

0

0.0

--

0

0.0

352,924,454

352,924,454

0

0.0

(145,848,807)

-- %

($238,868,166)

(34.3) %

0
($67,635,515)

0.0 %
(12.9) %

(61,835,097)
$6,838,469,548

375,256,370
($1,184,536,972)

--- %
(14.8) %

0
($731,533,176)

0.0 %
(9.7) %