JLBC - Monthly Fiscal Highlights
Summary

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

The January revenue results broke several long
term trends. General Fund revenue collections
were $1.44 billion. Excluding one-time
proceeds, collections were (2)% less than last
January. This was the first single digit year-overyear loss since September 2008.
In addition, January General Fund revenues
were $14.2 million above the forecast, which
marks the first time since March 2007 that
revenue collections exceeded the projection.

www.azleg.gov/jlbc.htm

“General Fund
revenue
collections...
were (2)% less
than last
January…the first

February 2010

Beginning with this February report, we are
comparing actual revenue collections to the
Baseline consensus forecast published last
month. The Baseline forecasts a revenue
decline of (10.8)%, compared to 0.9% growth in
the original FY 2010 budget. Since the revised
forecast is $(880) million less than the original
budget for the year, it will be easier to meet or
exceed the forecast going forward.
January 2010 General Fund spending was
$972.7 million. January expenditures were
higher than the prior year due to the late
payment of the Universities December
allocation. Year-to-date spending is ($176)
million less than the prior year.
In January, state revenues outpaced the rate
of spending due primarily to one-time transfers
and sale/lease-back proceeds. General Fund
revenues exceeded expenditures by $468

million for the month. Fiscal year-to-date,
however, General Fund revenues are $4.80
billion compared to spending of $6.21 billion,
for a 6-month deficit of $(1.41) billion.
Daily borrowing has increased since the end
of January when a one-time influx from the
sale of state buildings temporarily eliminated
the need for borrowing. Part of the increase in
borrowing is due to maintaining a $300 million
balance with the servicing bank.
The state pays its bills out of the operating
fund balance, which consists of General Fund
and certain dedicated funds. To cover last
year’s $(480) million shortfall and this year’s
$(1.4) billion shortfall in the General Fund, the
state has already effectively borrowed all of
the state’s approximately $1.6 billion in
dedicated funds in the operating balance.
Having exhausted that source, the state
literally borrowed as much as $572 million in
February by issuing Treasurer Warrant Notes
(TWNs). The average daily borrowing was
$377 million. Year to date, the highest daily
borrowing was $905 million.
FY 2010 Revenues
While revenues only declined (2.2)% in January,
the results varied widely among the main tax
categories.

single digit yearover-year loss

Table of Contents

since September
2008.”

January Revenues.................................................. 4
Economic Indicators.............................................. 6
JLBC Meeting Summary

This report has been
prepared for the Arizona
Legislature by the Joint
Legislative Budget
Committee Staff on
February 26, 2010.

•
•
•
•
•
•
•
•
•

ADOA, JUD – Requested Fund Transfers....... 10
ADOA – Emergency Telecommunication.... 10
AHCCCS – ALTCS Cap Rate Changes.......... 10
AG – Allocation of Settlement Monies.......... 10
DES – LTC Cap Rate Changes ........................ 10
ADEQ – Water Quality Permit Times .............. 10
GITA – Public Safety Commission................... 10
DHS – Transfer of Appropriations .................... 10
JLBC Staff – SFB Construction Costs............... 11

• ABOR – FY 2010 Tuition Revenues .................. 11
• DOR – BRITS Expenditure Plan ......................... 11

Summary of Recent Agency Reports
•
•
•
•
•
•
•
•
•

ADOA/Treasurer – General Fund Balance ... 12
AHCCCS – Healthcare Group Report........... 12
AHCCCS – IGA Report ..................................... 12
ACJC – CJEF Report ......................................... 12
ACJC – State Aid Report ................................. 12
Postsecondary Education – Grant Program 12
DPS – GIITEM Quarterly Report ....................... 12
DPS – Photo Enforcement Quarterly Report 13
Supreme Court – Report.................................. 13

2

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Summary

(continued)

Table 1

January
Year-to-Date

General Fund Revenues
Compared to Forecast and FY 2009 Collections
($ in Millions)
FY 2010
Difference From
Difference From
Collections
Sept ’09 Forecast 1/
Jan ’10 Forecast 2/
$ 1,441.2
$ (31.8)
$ 14.2
$ 4,798.4
$ (586.3)
$ 14.2

Difference
From FY 2009
$ 779.1
$
6.0

____________
1/ Enacted FY 2010 budget (September 2009).
2/ JLBC January Baseline

•

“January retail
collections were
down (1.0)%
compared to the

•

prior year, while
contracting was
down (42.4)%.”

•

January sales tax collections were down
(10.7)% compared to January 2009.
Continuing the recent trend, however, the
retail and contracting results diverged
substantially. January retail collections
were down (1.0)% compared to the prior
year, while contracting was down (42.2)%.
The retail numbers are particularly
important as they reflect December
holiday sales.
January individual income tax collections
were (1.6)% below January 2009.
Withholding tax collections were (3.6)%
below last year. Estimated and final
payments were down (19.0)% below last
year. These decreases were partially offset
by refunds, which were (46.3)% less than
last year.
January corporate income tax collections
were $36.0 million compared to January
2009’s net $(3.5) million loss. The corporate
results were $23.8 million above the

Table 2

Total

FY 2010 Spending
January 2010 spending of $972.7 million was
$111 million above January 2009. For the
year-to-date, spending of $6.2 billion is ($176)
million below 2009 (See Table 2).

•

•

University spending was $61.3 million
higher than in January 2009. This increase
was due to the December payment
being deferred to January, in order to
assist with cash flow. Year-to-date
University spending is $634.9 million, or
$0.5 million above FY 2009.
The Arizona Department of Education
(ADE) has spent $2.72 billion year-to-date
in 2010, or $375 million more than 2009. In
January, ADE spending was ($31.5) million
lower than the prior year.

General Fund Spending ($ in Millions)
Jan 10

Agency
AHCCCS
Corrections
Economic
Security
Education
Health Services
Public Safety
School Facilities
Board
Universities
Other

forecast, and were the primary reason that
total General Fund revenues exceeded
the forecast for the month.

Change
from Jan 09

Year to
Date

YTD Change
from FY 09

99.3
88.2
76.8

(27.9)
12.0
(21.4)

844.6
508.1
524.4

(110.9)
(20.8)
(125.7)

367.8
91.5
3.6
19.4

(31.5)
70.2
(6.0)
56.4

2,717.3
393.4
38.5
101.6

375.0
(125.1)
3.7
(61.7)

152.7
73.4

61.3
(2.1)

634.9
446.7

0.5
(111.0)

972.7

111.0

6,209.5

(176.0)

3

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Summary
•

“The FY 2011

•

Baseline includes
spending of
$13.19 billion,
which is 5.95% of

(continued)

Spending in AHCCCS and DES is a
combined ($49.3) million less in January
than in 2009. This is generally consistent
with the FY 2010 budget assumption that
caseload growth in Medicaid spending in
those agencies would be offset by
varying degrees by enhanced federal
match in the federal stimulus legislation.
Department of Health Services (DHS)
spending was $70.2 million higher in
January compared to 2009. This increase
was due to the quarterly payment for Title
XIX expenditures being made in January
this year compared to October in 2009.
Year to date spending is ($125.1) million
below 2009 due to enhanced federal
match in the federal stimulus legislation.

personal

6th Special Session FY 2010 Budget Revisions

income.”

At the time the 6th Special Session began in
February, the FY 2010 shortfall was estimated
to be about $(1.45) billion. This shortfall was
reduced to $(700) million by approval of 2
provisions:

•

•

Lottery Bonding ($450 million): The state
would issue bonds and use the General
Fund share of future lottery proceeds for
the debt service.
Asset Sale/Leaseback ($300 million): The
state would sell several state properties
and lease them back over a 20-year
period. This sale is above and beyond
the sale and leaseback of $735 million
completed in January.

February Reports
The JLBC Staff released the following 2 reports
in February:

•

State Appropriations Limit – JLBC Staff is
required to annually report by February 15
on how state spending compares to the
constitutional appropriations limit. The
Arizona Constitution limits the
appropriation of certain state revenues to
no more than 7.41% of Arizona personal
income. Including 5th Special Session
adjustments, total FY 2010 state
appropriations (both General and Other
Funds) would be $12.97 billion, or 5.59% of
personal income. The FY 2011 Baseline
includes spending of $13.19 billion, which
is 5.95% of personal income. These
calculations did not include any 6th
Special Session action.

The limit calculation includes one-time
General Fund savings of $1.25 billion in FY
2010 and $478 million in FY 2011 for
temporary federal assistance. Without
these savings, spending would be 6.17%
of personal income in FY 2010 and 6.16%
in FY 2011.

•

TNT Revisions – JLBC Staff released its
calculation of the Truth in Taxation (TNT)
adjustments to property tax rates. Each
year the K-12 Qualifying Tax Rate (QTR) is
adjusted to offset changes in the value of
existing property. Typically the QTR is
decreased in order to offset increases in
statewide property values for a fiscal
year. For FY 2011, however, statewide
property values are expected to
decrease, which would require an
increase in the QTR under TNT.
The net estimated decrease in statewide
property values for FY 2011 under most
recent data is (4.6)%. This includes an
estimated (7.3)% decrease for existing
properties and 2.7% increase for new
construction.

4

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

January Revenues

“The January
decline [in sales
tax] marked the

Sales Tax collections were $319.3 million in
January. These revenues were down (10.7)%
compared to last January, and were $(9.5)
million below the forecast. The January
decline marked the 24th consecutive month of
year-over-year reductions, and the 15th
consecutive month of double digit declines
compared to the previous year.
Table 3 displays the January growth rates for
the largest categories.

24th consecutive
month of yearover-year
reductions, and
the 15th
consecutive
month of double
digit declines....”

Table 3

Jan
(1.0)%
(42.2)%
2.6%
(25.3)%
(1.5)%

YTD
(8.2)%
(40.7)%
0.5%
(23.4)%
(4.0)%

As noted in previous months, retail and contracting together account for about 30% of all
sales tax revenues. The retail sector decreased
by only (1.0)% in December. However,
contracting continued its poor performance,
with a (42.2)% decrease for the month.
Within the retail category, General
Merchandise and Miscellaneous Retail was
down (4.6)% in December (latest available
data). The Motor Vehicles category was down
(10.6)% compared to December 2008. The
Motor Vehicle category continues to improve
each month from the (32.9)% decline for all of
FY 2009.

Table 4

As indicated in Table 5 below, withholding tax
payments declined by (3.6)% in January, the
16th consecutive month of year-over-year
declines. The state has not suffered that many
months of year-over-year declines since at
least 1960.
Table 5

Sales Tax Growth Rates
Compared to Prior Year
Retail
Contracting
Utilities
Use
Restaurant & Bar

Individual Income Tax net revenues were
$326.6 million in January. Collections were
down (1.6)% compared to the prior year, but
were $3.9 million above the forecast. Year-todate collections are down by (10.4)%.

Individual Income Tax Growth Rates
Compared to Prior Year

Withholding
Estimated +
Final Payments
Refunds

January
(3.6)%
(19.0)%

YTD
(5.8)%
(27.6)%

(46.3)%

(4.4)%

January estimated and final payments were
(19.0)% below last year, and $(8.3) million
below the forecast for the month. Year-todate, payments are (27.6)% below last year.
As we noted last month, while payments are
down significantly for the first portion of the
fiscal year, April final payments are key to
individual income tax collections for the year.
Approximately 80% of final individual income
tax payments are collected after April 15th.
January refunds totaled $(30.1) million, which
was (46.3)% below the prior year, and $12.5
million below the forecast. Year-to-date,
refunds are (4.4)% below the prior year.

December 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
30.9%
20.2%
7.5%
7.5%
6.8%
5.8%
5.5%
15.8%
100.0%

% Change
Over FY 2009
(4.6)%
(10.6)%
(10.2)%
(6.3)%
(19.4)%
(7.3)%
(21.0)%
(12.9)%
(9.7)%

5

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

January Revenues

(Continued)

Corporate Income Tax net collections were
$36.0 million in January, which was $23.8 million
above the January consensus forecast for the
month. January is a relatively small collection
month for the corporate income tax category,
however gross payments were up 67.8%
compared to the prior year, while refunds were
down significantly. Year-to-date, corporate
collections are (50.9)% below last year.
“Year-to-date,
total HURF
collections of
$684.3 million are
down… (6.3)%
compared to the
prior year.”

It is possible that some of the increase in
January collections was the result of timing.
Combining January collections with the
December decline in collections results in a
December/January decline of (8.5)%
compared to the prior year. Gross collections
for the combined period are down (16.3)%,
while refunds decreased by (30.7)%.
The Lottery Commission reports that ticket sales
for the month of January were $47.4 million,
which is $287,400 above sales in January 2009,
an increase of 0.6%. Year-to-date, ticket sales
of $304.0 million are $41.2 million or 15.7%
above last year.
While ticket sales have increased $41.2 million
above last year at this time, distributions to
state beneficiaries are down $(4.2) million. As
we have noted in previous months, it appears
that sales have increased as prize payouts
have increased. Statute requires the Lottery
Commission to deposit at least 50% of ticket
sales into the fund used for prize payouts. Prior
to FY 2009, the percentage used for payouts
was about 56%. Currently, prize payouts
represent about 61% of ticket sales.
Higher prize payouts, however, result in
reduced distributions to state beneficiaries.
The percentage of ticket sales distributed to
beneficiaries has dropped from 30% prior to
FY 2009 to approximately 21.8% so far in FY
2010. The Lottery Commission notes that by the
end of the fiscal year, the percentage of ticket
sales distributed to beneficiaries will equal 26%.
Tobacco Tax revenues were $27.4 million in
January. Collections were down (24.2)%
compared to the prior year, and were $(4.1)
million below the Baseline estimate for the
month. Year-to-date collections are down by
(16.3)%.
Less than 10% of tobacco taxes are deposited
directly into the General Fund. The remainder

primarily goes to AHCCCS and the
Department of Health Services to defray the
General Fund cost of operating those
programs.
Non-General Funds
Highway User Revenue Fund (HURF) revenues
consist of gasoline and use fuel (diesel) tax,
motor carrier fees (commercial carriers),
vehicle license tax and registration fees, and
various other fees.
HURF collections of $105.0 million in January
were up $0.4 million or 0.4% compared to
January of last year, breaking a string of 15
negative collection months compared to the
prior year. Year-to-date, total HURF collections
of $684.3 million are down $(46.1) million or
(6.3)% compared to the prior year.

6

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Table 6

State of Arizona
General Fund Revenue:

Change from Previous Year and January Baseline Forecast
January 2010
Current Month

FY 2010 YTD (Seven Months)

Change From
Actual

January 2009

January 2010

Amount

Change from
Actual

Forecast

Percent

Amount

Percent

January 2009

January 2010

Amount

Forecast
Percent

Amount

Percent

Taxes
Sales and Use
Income - Individual
- Corporate
Property
Luxury - Tobacco
- Liquor

$319,313,439

($38,447,295)

326,599,117

(5,353,178)

36,016,342

39,481,057

(10.7) %

($9,505,950)

$2,011,942,568

($347,134,586)

(1.6)

3,926,985

(2.9) %
1.2

1,779,405,045

(207,238,706)

(10.4)

3,926,985

0.2

--

23,792,894

194.6

147,848,501

(153,350,409)

(50.9)

23,792,894

19.2

($9,505,950)

(0.5) %

601,553

(67,198)

(10.0)

197,553

48.9

12,072,780

1,383,643

12.9

197,553

1.7

2,127,285

(738,541)

(25.8)

(847,715)

(28.5)

15,136,568

(3,218,888)

(17.5)

(847,714)

(5.3)

(913,749)

2,231,354

(719,400)

(24.4)

(638,646)

(22.3)

16,149,315

Insurance Premium

51,877

(257,786)

(83.2)

(698,123)

(93.1)

173,758,170

Estate

51,444

30,424

144.7

51,444

Other Taxes

59,906

(28,960)

(32.6)

30,906

$687,052,317

($6,100,877)

Sub-Total Taxes

(14.7) %

(0.9) %

$16,309,348

-106.6
2.4 %

(5.4)

(638,647)

(3.8)

10,032,842

6.1

(698,123)

(0.4)

384,828

259,495

207.0

51,444

15.4

516,816

160,841

45.2

30,907

$4,157,214,591

($700,019,517)

(14.4) %

$16,309,349

6.4
0.4 %

Other Revenue
Lottery

3,547,100

License, Fees and Permits

2,198,378

Interest

(541,567)

139.1

447,100

14.4

19,084,700

(6,125,300)

(24.3)

447,100

2.4

(19.8)

738,378

50.6

15,511,706

(4,154,740)

(21.1)

738,378

5.0

(520,370)

--

(63,336)

--

1,111,201

(8,434,518)

(88.4)

(63,336)

(5.4)

Sales and Services

1,340,864

(7,042,319)

(84.0)

(899,136)

(40.1)

13,033,754

(14,350,904)

(52.4)

(899,136)

(6.5)

Other Miscellaneous

1,528,532

(1,288,642)

(45.7)

(1,471,468)

(49.0)

22,203,197

(2,762,838)

(11.1)

(1,471,468)

(6.2)

--

0

0

(48.2)

33,472,436

6,501,432

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

(63,336)

2,063,500

0
880,798

0

--

(2,423,678)

(73.3)

9,432,336

(9,753,076)

(50.8) %

$696,484,653

($15,853,953)

(2.2) %

0
(819,202)
(2,067,664)
$14,241,684

-24.1

(18.0) %

104,416,994

(29,326,868)

(21.9) %

2.1 %

$4,261,631,585

($729,346,385)

(14.6) %

0
(819,202)
(2,067,664)
$14,241,685

-(2.4)
(1.9) %
0.3 %

Other Adjustments
Urban Revenue Sharing
Budget Plan Transfers
Other Revenue
Sub-Total Other Adjustments

(52,387,052)

8,252,731

61,634,612

51,259,612

735,419,300

735,419,300

-494.1
--

0

0.0

(366,709,367)

57,769,116

0

0.0

168,098,381

(57,823,411)

0

0.0

735,419,300

735,419,300

--

0

0.0

(25.6)

0

0.0

--

0

0.0

744,666,860

794,931,643

-- %

0

0.0 %

536,808,314

735,365,005

-- %

0

0.0 %

$1,441,151,513

$779,077,690

117.7 %

$14,241,684

1.0 %

$4,798,439,899

$6,018,620

0.1 %

$14,241,685

0.3 %

Highway User Revenue Fund

$105,033,000

$412,000

0.4 %

$4,617,000

4.6 %

$684,256,000

($46,057,000)

(6.3) %

($24,268,000)

(3.4) %

Tobacco Tax (All Funds Total)

$27,448,636

(13.0) %

$193,453,305

($37,735,204)

(16.3) %

($1,848,985)

(0.9) %

TOTAL GENERAL FUND REVENUE

Non-General Funds

($8,784,817)

(24.2) %

($4,090,323)

7

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Economic Indicators
NATIONAL

“…the second
estimate of the
U.S. Real Gross
Domestic Product
(GDP) for the 4th
quarter of 2009
suggests that the
economy grew
at an annual rate
of 5.7%..”

According to the U.S. Department of
Commerce Bureau of Economic Analysis (BEA),
the second estimate of the U.S. Real Gross
Domestic Product (GDP) for the 4th quarter of
2009 suggests that the economy grew at an
annual rate of 5.7%. For the entire year,
however, GDP fell by (2.4)%. Despite increased
government spending, the BEA attributed the
contracting economy to decreased
nonresidential and residential fixed
investment, exports, private inventory
investment, and personal consumption.
In February, the Conference Board’s U.S.
Consumer Confidence Index plunged to 46.0,
down 10.5 points from a revised January level
of 56.5. Based on the report, the plunge was
due to a steep decline in current and shortterm business conditions and the job market.
Despite the significant drop, the index is 81.8%
(or 20.7 points) above its level a year ago.
Since January the index in February 2008,
however, reached a 30-year low of 25.3.
In January, the Conference Board’s U.S. Index
of Leading Economic Indicators increased to
107.4, which is 0.3% above the revised
December level, and 8.7% above the index a
year ago. The index, designed to anticipate
economic activity 3 to 6 months in advance,
has now increased for 10 consecutive months.
In January, 5 of the 10 components that make
up the composite index advanced, relative to
December, with interest rate spreads and
vendor performance having the greatest
increase.
Consumer prices, as measured by the U.S.
Consumer Price Index (CPI), increased for the
10th consecutive month. The January increase
was 0.2% over December. Compared to the
same month in the prior year, the CPI was up
by 2.7%. The core CPI, which excludes food
and energy prices, fell by (0.1)% in January, the
first such decline in 27 years. The drop in the
core CPI was primarily due to falling costs for
housing, new vehicles, and airline tickets.
Despite this decline, core inflation was still up
by 1.5% compared to the same month in the
prior year.
The Semiconductor Industry Association (SIA)
reported that Semiconductor Billings (3-month
moving average) in the U.S. were $3.83 billion

in December, a (1.4)% decrease from the prior
month but a 42.2% improvement over
December 2008 levels. According to SIA, the
semiconductor industry performed better than
expected in 2009 primarily due to a strong
focus on inventory and supply chain
management. As a result, the industry is well
positioned to continue its expansion in 2010.
ARIZONA
Due to the Arizona Department of
Commerce’s annual revision of employment
data (also known as “benchmarking”),
January’s employment and unemployment
figures will not be released until the first week
of March. For this reason, this month’s issue of
Monthly Fiscal Highlights does not include any
employment statistics.
The Department of Commerce reported that
31,536 initial claims for unemployment
insurance were filed in January, a 10.4%
increase over the prior month. Much of this
increase, however, can be attributed to
seasonal factors. January marked the third
straight month with a year-over-year decline
in claims. Initial jobless claims peaked in April
when more than 41,000 individuals filed for
benefits. For the week ending February 6, a
total of 91,896 Arizona residents filed for
continued claims for jobless benefits. This was
more than (21.0)% below the record-high
level reported for the first week of August
2009.
According to data released by the U.S.
Census Bureau, an average of 1,224 building
permits were issued each month for the
period between November 2008 and January
2010. This amount includes an average of
1,029 single-family residential building permits
and 195 multi-family permits. Compared to
the prior 3-month period, the number of
single-family permits issued decreased (3.4)%
while the number of multi-family permits
increased 77.5%. Compared to the same
period in the prior year, activity in the single
family segment increased 65.1%, while permits
in the multi-family segment was down by
(10.0)%.
ASU’s January real estate report suggests that
the single-family median resale home price
was $143,000 based on a total of 7,725 singlefamily existing home sales. Relative to

8

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Economic Indicators
December, the median resale price fell (1.4)%
while the total number of units bought and sold
were down (21.2)%. On a year-over-year
basis, however, the measures were up by
11.0% and 5.7%, respectively. Sales activity
reached a high of 11,820 in June 2009 and
the median resale price peaked in June 2006
at $267,000,

“AHCCCS
caseloads are
currently 17.0%
above February
2008 levels.”

In the multi-family segment, ASU’s report
indicates there were 1,150 townhousecondominium transactions with a median
resale price of $99,535. On a year-over-year
basis the number of transactions increased
87.0% while the median resale price fell
(13.4)%. Despite a (23.8)% decrease in the
number of transaction from December levels,
the median resale price was down just (0.5)%.
The median resale price reached a high of
$189,990 in May 2007.
The S&P/Case-Shiller Home Price Index
measures housing prices based on repeat
sales. In December, the index for the Phoenix
metropolitan continued to reflect monthover-month increases. Most recently, the
index totaled 112.53, up 0.5% relative to the
prior month but down (9.2)% on a year-overyear basis. The Phoenix index peaked in June
2006 at 227.42. The S&P/Case-Shiller
composite index which measures housing
prices in 20 metropolitan areas, is down (0.2)%
and (3.1)% on a month-over-month and yearover-year basis, respectively.
The seasonally adjusted MLS data suggests
the month’s supply of housing indicator
increased by 0.9 months between December
2009 and January 2010 to 6.1 months. At this
level, the supply of housing is (2.5) months less
than it was a year ago and (10.6) months
below the September 2007 high of 16.6
months.
According to the Behavior Research Center’s
January Arizona Consumer Confidence Index
report, consumer confidence decreased 10.0
points (relative to the September 2009 report)
to a level of 50.2. While this was a significant
decline in consumer confidence, the index
was still above its record low reading of 44.2
reported in January 2009. The decline was
largely due to a negative assessment of future
job opportunities.

(Continued)

A total of 37.8 million passengers entered and
exited aircraft at the Phoenix Sky Harbor
International Airport in 2009, the lowest
reported level since 2003. This was also the
second consecutive year with declines in air
passenger traffic at the airport. Monthly data
reveals that on a year-over-year basis air
passenger traffic has been growing by 2.1%
over the last 3 months. This is the first such
increase since the third quarter of 2007.
In February, AHCCCS caseloads equaled
1,362,572 members, essentially the same
number of recipients as in the previous month.
AHCCCS caseloads are currently 17.0% above
February 2008 levels. The FY 2010 budget
funded a projected June caseload growth of
10.7%, for a total of 1,388,147 members.
There were a reported 85,757 TANF recipients
in the state in December, which represented
a monthly caseload decrease of (1.5)%.
Year-over-year, the number of TANF
recipients has declined by (1.4)%. The
FY 2010 budget assumed that the June 2010
TANF caseload would be 84,287.
The Department of Correction’s (ADC) inmate
population 3-month average count totaled
40,579 inmates between November 2009 and
January 2010. This equates to an average
monthly decrease of (88) inmates and a year
over year increase of 1,007 inmates. The
department was funded for growth of 151
inmates per month in FY 2010. Fiscal year-todate, however, population growth has
increased by an average of 13 inmates per
month.
With the exception of Maricopa County (who
funds all of their probation programs), the
state and counties share the costs of adult
and juvenile probation programs. Based on
adult and juvenile probation data from
October and December, respectively, the
non-Maricopa probation caseload was
19,721 individuals - 93 fewer probationers than
the prior month and 420 probationers less
than a year ago. In Maricopa County, there
were 29,064 probationers during the period,
190 fewer than the prior month and 727 less
than a year ago.

9

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Economic Indicators

(Continued)

Table 7

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
Townhouse/Condominium
- Greater Phoenix Median Home Sales Price
Single-Family
Townhouse/Condominium
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)
- Arizona Consumer Confidence Index (1985 = 100)
- Arizona Coincident Index (July 1992 = 100)
- Arizona Personal Income
- Arizona Population
- AHCCCS Recipients
- TANF Recipients
- SNAP (Food Stamps) Recipients
- ADC Inmate Growth (3-month average)
- Probation Caseload (Adult/Juvenile)
Non-Maricopa
Maricopa County
United States
- Gross Domestic Product
(Chained 2005 dollars, SAAR)
- 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

December
December
December
December
December
December
Nov-Jan
Nov-Jan

9.1%
28,567
2.44 million
159,600
131,800
39.0
$34.4 million
$145.7 million

0.2%
(0.7)%
(0.1)%
(0.4)%
(1.7)%
(0.5)%
(1.3)%
13.6%

2.5%
(17.0)%
(4.8)%
(6.6)%
(19.1)%
(3.7)%
(40.9)%
(2.8)%

Nov-Jan
Nov-Jan

1,029
195

(3.4)%
77.5%

65.1%
(10.0)%

January
January

7,725
1,150

(21.2)%
(23.8)%

11.0%
87.0%

January
January
December
January
December
November

$143,000
$99,535
112.53
6.1 months
3.24 million
$7.44

4th Quarter 2009
December
3rd Quarter 2009
July 1, 2009
February
December
November
Nov-Jan

50.2
198.71
$217.7 billion
6.60 million
1,362,572
87,757
1,013,422
40,579

(16.6)%
(0.1)%
0.0%
N/A
0.0%
(0.5)%
2.7%
(88) inmates

NA
(5.7)%
(2.6)%
1.5%
17.0%
(1.4)%
35.3%
1,007 inmates

Oct/Dec
Oct/Dec

19,721
29,064

(93)
(190)

(420)
(727)

4th Quarter 2009
(2nd Estimate)
February
January
Oct-Dec
January

$13.2 trillion

5.7%

0.1%

46.0
107.4
$3.83 billion
217.59

(18.6)%
0.3%
(1.4)%
0.2%

81.8%
8.7%
42.2%
2.7%

(1.4)%
(0.5)%
0.5%
0.9 months
4.4%
(11.1)%

5.7%
(13.4)%
(9.2)%
(2.5) months
2.1%
(6.4)%

10

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

JLBC Meeting
At its February 2, 2010 meeting, the Joint
Legislative Budget Committee considered the
following issues:
Arizona Department of Administration, and
Judiciary – Review of Requested Exchange of
Fund Transfers – The Committee gave
favorable reviews of the requests to
exchange fund transfers for the Arizona
Department of Administration and Judiciary.
The Arizona Department of Administration
requested that $738,700 be transferred from
the Motor Vehicle Pool Revolving Fund rather
than the Special Services Revolving Fund and
the State Surplus Materials Revolving Fund.
The Judiciary requested that $110,300 be
transferred from the Criminal Justice
Enhancement Fund rather than the Grants
and Special Revenues Fund.
Arizona Department of Administration (ADOA)
– Review of Emergency Telecommunication
Services – The Committee gave a favorable
review of the expenditure plan for the
Emergency Telecommunications Services
Revolving Fund (ETSF). ADOA expects to
distribute $9.2 million as the wireless portion of
the ETSF in FY 2010.
Arizona Health Care Cost Containment
System (AHCCCS) – Review of Proposed
Acute Care and Long Term Care (ALTCS)
Capitation Rate Changes – The Committee
gave a favorable review of the capitation
and fee-for-service inflationary rate changes.
The proposed rates would cost $(16.6) million
less from the General Fund than budgeted in
FY 2010, assuming budgeted caseloads.
Attorney General – Review of Allocation of
Settlement Monies – The Committee gave
favorable reviews of the AG’s allocation plans
for the $1,650,000 that the AG will receive
from 4 settlements related to enforcement of
consumer protection and consumer fraud
statutes, and as a result of antitrust
enforcement. The amounts to be deposited
into the Consumer Protection-Consumer
Fraud Revolving Fund are: $810,000 from
several pharmaceutical companies, $300,000
from Merck & Co. Inc, and $140,000 from Amir
and Sanchez Nutraceuticals, LLC. The
amount of $84,000 will be deposited into the
Antitrust Enforcement Revolving Fund from
Abbott Laboratories. The amount of $20,000
will be for consumer restitution from Amir and
Sanchez Nutraceuticals, LLC.

Department of Economic Security – Review of
Long Term Care Capitation Rate Changes The Committee gave a favorable review of
the DES expenditure plan for proposed
capitation rate adjustments in the federal Title
XIX Developmental Disabilities Long Term
Care program. The proposed capitation
adjustments reflect decreases for most
components, including a 10% reduction to
Home and Community Based Services
provider rates for an estimated General Fund
savings of $6,615,100 in FY 2010.
Department of Environmental Quality – Review
of Water Quality Permit Processing Times - The
Committee gave a favorable review of DEQ’s
report on water quality permit processing
times for FY 2009 and projected totals for FY
2010. Although the average processing time
for all permit categories met the licensing
deadlines, DEQ exceeded the deadline for at
least 1 permit in 2 categories in FY 2009. In
FY 2010, DEQ projects that the average time
for all types of permits will be within the
specified permit processing timeframe.
Government Information Technology Agency
– Quarterly Review of the Arizona Public
Safety Communication Advisory Commission –
The Committee gave a favorable review of
GITA’s report of FY 2010 first quarter
expenditures and progress report for the
statewide interoperability design project. First
quarter expenditures totaled $177,400 of
$3,018,700 in FY 2010 appropriated funding.
Activities in the first quarter of FY 2010
included implemen-tation of the Arizona
Interagency Radio System in 14 of 15 counties
and revision of the Statewide
Communications Interoperability Plan.
Department of Health Services – Review of
Requested Transfer of Appropriations – The
Committee gave a favorable review of DHS’s
request for multiple fund transfers in order to
receive federal matching monies and to
efficiently use its resources. DHS would
transfer $332,800 in General Fund monies from
programmatic SLIs to the Breast and Cervical
Cancer and Bone Density Screening SLI in
order to receive enhanced federal matching
monies. DHS would also transfer $900,000 in
Tobacco Tax and Health Care Fund Medically
Needy Account monies from the Community
Health Centers SLI to the Seriously Mentally Ill
Non-Title XIX SLI. In addition to the proposed
General Fund shift to agency operations, this

11

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

JLBC Meeting

(Continued)

would eliminate the $1,881,400 total fund
appropriation for Community Health Centers;
however, the program would still receive
$11,600,000 in Fiscal Stabilization Fund monies
provided under ARRA for FY 2010.
JLBC Staff – Consider Approval of Index for
School Facilities Board Construction Costs –
The Committee approved a 0% adjustment in
the cost per square foot factors, based on an
average of the changes in 2 measures of
general inflation, the Consumer Price Index
(CPI) and the Gross Domestic Product implicit
price deflator (GDP deflator), in the last fiscal
year. This adjustment would generate no
change in new construction costs or the
building renewal formula.
Arizona Board of Regents – Review of FY 2010
Tuition Revenues – The Committee gave a
favorable review of the Arizona Board of
Regents (ABOR) expenditure plan for $56.4
million in tuition revenue above the FY 2010
appropriated amount and expenditure of the
estimated $429.3 million in retained tuition
and fee revenue for the current fiscal year.
Department of Revenue – Review of Business
Reengineering/Integrated Tax System
Expenditure Plan – The Committee gave a
favorable review of DOR’s expenditure plan
for internal operational support of
implemented Business Reengineering/
Integrated Tax System (BRITS) through June
2010. The expenditure plan would allow DOR
to hire up to 22 FTE Positions at an estimated
total cost of $2.3 million in FY 2010. Of this
amount, $2 million is from General Fund
revenues and the remainder would be
absorbed by DOR’s operating budget.

12

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Summary of Recent Agency Reports
ADOA/Treasurer – Report on
Reconciliation of General Fund
Balance for FY 2009 – Pursuant to
A.R.S. § 41-172A and A.R.S. § 35131F the Office of the State
Treasurer and the Arizona
Department of Administration
(ADOA) are required to submit
reports reconciling any difference
between agencies in the year-end
General Fund balance. ADOA and
the Treasurer currently report FY
2009 year-end General Fund
balances of $(745.2) million and
$(733.4) million, respectively. The
difference leaves an unreconciled
General Fund balance of $11.8
million. ADOA and the Treasurer
report that they will continue to try
to isolate the source of the $11.8
million difference. (Eric Billings)
AHCCCS – Report on Healthcare
Group – AHCCCS reports that, as of
September 2009, total statewide
Healthcare Group (HCG) medical
plan enrollment was 13,192, with
participating members from 4,815
employers. This is a decline of
(5,717) participating members and
(2,141) employers from a year
earlier. AHCCCS acknowledges
that the worsening economy has
contributed to the declining
enrollment.
It its annual audit, AHCCCS
reported that HCG had $10.8 million
in unpaid prior year obligations and
other liabilities at the end of FY 2009.
This is a $(5.0) million decrease from
FY 2008. The decrease is partly
attributable to a $2.8 million subsidy
which was used to pay down prior
year liabilities. (Amy Upston)
AHCCCS – Report on Interstate
Agreement with Hawaii – Pursuant
to A.R.S. § 36-2925H, the Arizona
Health Care Cost Containment
System (AHCCCS) has submitted its
annual report on the status of an
Interstate Agreement with the State
of Hawaii. This report summarizes
the continued activities associated
with the agreement between

AHCCCS and Hawaii for data
processing. The proceeds for this
agreement are deposited into a
special fund. This fund had an
ending FY 2009 balance of
$1,639,420. A.R.S. § 36-2926 limits
these funds to technology projects
and Information Technology (IT)
staff recruitment. (Aaron Galeener)
Arizona Criminal Justice
Commission – Report on Criminal
Justice Enhancement Fund –
Pursuant to A.R.S. § 41-2401C, the
Arizona Criminal Justice Commission
(ACJC) is required to provide an
annual report by December 1 on
Criminal Justice Enhancement Fund
(CJEF) monies distributed to law
enforcement agencies. CJEF
consists of a 47% assessment on
certain fines, penalties, and
forfeitures imposed and collected
by the courts. In FY 2009, CJEF
revenues totaled $47.7 million and
the total funds available (including
the beginning balance and
adjustments) for the fiscal year was
$60.3 million. In FY 2009, CJEF
revenues decreased by (0.7)%.
(Jon McAvoy)
Arizona Criminal Justice
Commission – Report on State Aid
to County Attorneys Fund and the
State Aid to Indigent Defense Fund
– Pursuant to A.R.S. § 41-2409E, the
Arizona Criminal Justice Commission
(ACJC) is required to report on the
expenditures of monies for the prior
fiscal year in the State Aid to
County Attorneys Fund and State
Aid to Indigent Defense Fund by
January 8 of each year.
In FY 2009, the State Aid to County
Attorneys Fund received revenues
totaling $1.1 million. The State Aid
to Indigent Defense Fund received
revenues totaling $1.1 million.
ACJC reports that counties used the
monies in 3 main areas: additional
staffing to process more cases,
technological purchases to improve
case management, and

specialized courts such as DUI/drug
courts and early disposition courts.
The ACJC report states that case
processing times have not met the
Supreme Court guidelines. (Jon
McAvoy)
Commission for Postsecondary
Education – Report on
Postsecondary Education Grant
Program – A.R.S. § 15-1855 requires
the Commission for Postsecondary
Education to report annually on its
Postsecondary Education Grant
(PEG) program. The PEG program
provides grants to students
attending private postsecondary
institutions. The program was
launched in March 2007. In FY 2009,
a total of $2.4 million was disbursed
to 1,434 grantees representing 21
private postsecondary schools. The
PEG application process was
temporarily suspended by the
Executive for several months in FY
2009. According to the commission,
there was a waiting list of unfunded
PEG students at the end of FY 2009
due to budget reductions. (Marge
Zylla)
Department of Public Safety –
Quarterly Report on GIITEM –
Pursuant to Laws 2009, 1st Regular
Session, Chapter 12 (General
Appropriation Act), the Department
of Public Safety (DPS) is required to
report quarterly on the Gang and
Immigration Intelligence Team
Enforcement Mission (GIITEM). As of
the second quarter of FY 2010, DPS
had spent or encumbered $4.3
million of the $9.4 million
appropriation for the direct DPS
immigration staff. In terms of local
law enforcement grants, DPS has
not spent any of the FY 2010 $2.6
million appropriation but has spent
$2.7 million of an available $3.5
million in non-lapsing FY 2009
monies. (Eric Billings)
Department of Public Safety –
Quarterly Report on Photo
Enforcement – Pursuant to a
footnote in Laws 2009, 1st Regular

13

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Summary of Recent Agency Reports

(Continued)

Table 8

General Fund
Administrative Office of Courts
Vendor Payments
Clean Elections Commission
DPS
Photo Enforcement Fund Balance
Total
Session, Chapter 12 (General
Appropriation Act), the Department
of Public Safety (DPS) is required to
report quarterly on the Photo
Enforcement program in FY 2010.
During the second quarter of FY
2010, the Photo Enforcement
Program issued 82,723 Notices of
Violation (NOVs) and 22,716
citations from 40 mobile units and 36
stationary units. Of these NOVs,
42,187 became either civil or
criminal citations. A total of 22,579
NOVs were paid within 40 days of
issuance with an additional 6,430
citations also receiving payment.
Since the inception of the program
in September 2008, a total of
773,360 NOVs and citations have
been issued and 310,421, or 40%,
have been paid.
The NOVs and citations issued by
the Photo Enforcement Program
generated $11 million in revenue for
the second quarter of FY 2010 and
have generated $47.1 million since
the program’s inception. At the
end of each quarter, the
department is statutorily required to
revert all unused monies in excess of
$250,000 to the General Fund.
These monies were distributed to
recipients as shown in Table 8. (Eric
Billings)
Supreme Court – Report on Criminal
Case Processing and Enforcement
Improvement Fund and the State
Aid to the Courts Fund – Pursuant to
A.R.S § 12-102.01D and A.R.S § 12102.02D, the Supreme Court is
required to report on the Criminal
Case Processing and Enforcement

1st Quarter FY 2010
$6,666,500
1,186,700
2,305,400
386,700
200,600
250,000
$10,995,900

Improvement Fund and the State
Aid to the Courts Fund annually by
January 8.
In FY 2009, statewide court revenue
collections increased by $27.3
million, or 7.2%, to $409.3 million.
Total case filings increased by 7.8%.
In FY 2009, a total of 57,475 criminal
cases were filed in Superior Courts
throughout the state, which
represents a decrease of (9.4)%
over FY 2008. (Jon McAvoy)

Program-to-Date
$29,675,500
4,559,100
6,670,600
2,432,400
3,546,600
250,000
$47,134,200

14

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Table 9

Agency
Department of Administration
Office of Administrative Hearings
Department of Agriculture
AHCCCS
Arizona Commission on the Arts
Arizona Exposition and State Fair
Board
Attorney General
AZ Capital Post Conviction Public
Defender
State Board of Charter Schools
State Bd. of Chiropractic Exam.
Department of Commerce
Community Colleges
Corporation Commission
Department of Corrections
AZ Criminal Justice Commission
AZ State Board of Cosmetology
AZ St. Schools for the Deaf & Blind
Dept. of Economic Security
Department of Education
DEMA
Dept. of Environmental Quality
DEQ-WQARF
Office of Equal Opportunity
State Board of Equalization
Board of Executive Clemency
Dept. of Financial Institutions
Department of Fire, Life, Bldg Safety
State Board of Funeral Directors
Arizona Geological Survey
Government Information Tech.
Governor
Gov. - OSPB
Department of Health Services
Arizona Historical Society
Prescott Historical Society of AZ
Independent Redistricting Comm.
AZ Commission of Indian Affairs
Department of Insurance
Judiciary
Supreme Court
Superior Court
Court of Appeals
Dept. of Juvenile Corrections
State Land Department
Law Enforcement Merit System

General Fund Spending
($ in Thousands)
Change from
Jan 10
Jan 09
(76.0)
1,332.4
133.4
32.9
504.2
181.2
99,317.6
(27,944.8)
94.6
(166.8)
400.0
400.0
1,211.7
49.6

(197.5)
(36.5)

42.4
593.3
33,106.6
22.6
88,172.3
4,102.1
76,847.4
367,797.1
1,352.5
371.5
30.8
41.1
55.0
182.2
121.8
73.1
28.2
439.8
189.2
91,456.2
369.9
160.6
.6
7.5
365.0

(35.4)
331.5
(2,952.4)
(477.9)
11,964.3
(151.1)
926.6
(21,375.7)
(31,496.9)
523.0
(867.0)
19.6
1.6
(8.6)
(195.5)
(39.4)
23.4
(174.7)
(93.2)
70,234.8
110.9
113.6
(28.4)
(15.0)
(176.4)

1,000.5
10,517.3
1,564.3
6,032.4
1,464.8
11.2

267.5
1,435.8
634.9
(560.7)
(174.9)
4.1

Year-to-Date
11,793.4
658.6
6,036.7
844,632.7
451.7
400.0
12,550.1
415.3
475.0
148.0
2,351.0
99,319.8
331.4
508,148.8
(4.6)
252.0
13,903.0
524,463.9
2,717,316.7
5,699.5
3,455.3
7,000.0
140.5
429.8
676.0
2,219.3
1,662.8
100.0
521.7
290.2
5,345.7
1,295.7
393,358.3
2,953.0
474.5
26.1
71.1
3,879.4
11,898.1
52,254.5
9,257.5
44,556.7
11,947.9
50.8

YTD Change from
FY ‘09
(10,569.5)
(172.0)
(1,221.3)
(110,855.7)
(435.0)
400.0
(2,048.6)
(98.5)
(141.2)
148.0
(22,949.2)
(9,357.2)
(2,872.3)
(20,829.4)
(937.4)
252.0
(2,950.9)
(125,732.3)
375,037.5
(1,320.0)
(1,145.7)
(6,000.0)
(0.3)
(73.8)
(59.4)
(330.0)
(409.7)
100.0
13.5
(662.7)
465.4
(125,132.3)
(342.0)
(7.3)
(139.6)
(65.2)
(1,067.8)
(95.8)
(4,354.3)
488.5
(3,141.0)
(57.4)
(1.1)

15

JLBC – MONTHLY FISCAL HIGHLIGHTS – FEBRUARY 2010

Legislature
Auditor General
House of Representatives
Joint Legislative Budget Comm.
Legislative Council
AZ Library and Archives
Senate
Dpt. of Liquor Licenses
Board of Medical Student Loans
Mine Inspector
Dpt. of Mines & Mineral Resources
Nav. Streams & Adjudication
State Board of Nursing
OSHA
Board of Osteopathic Examiners
Arizona State Parks Board
Personnel Board
Arizona Pioneers Home
Comm. for Postsecondary Ed.
State Board of Psychologist Exam.
Department of Public Safety
Arizona Department of Racing
Radiation Regulatory Agency
Arizona Rangers Pension
Real Estate Department
Department of Revenue
School Facilities Board
Secretary of State
Tax Appeals Board
Office of Tourism
Department of Transportation
State Treasurer
Universities
Board of Regents
Arizona State University
Northern Arizona University
University of Arizona
Department of Veteran Services
AZ State Veterinary Medical
Examining Board
Department of Water Resources
Dept. of Weights & Measures
Other
Grand Total

1,196.8
844.1
144.2
415.7
531.7
613.8
21.2
104.8
22.5
6.8
(100.0)
3,567.1
603.8
295.5
1.2
160.0
8,308.1
19,443.1
185.6
26.2
4.5
1,729.7

(1.8)
(111.5)
(8.8)
(578.9)
16.6
(196.3)
(254.1)
(94.9)
(0.8)
(255.2)
(16.8)
(10.5)
(100.0)
(632.9)
(29.2)
(1.2)
2,085.6
(5,986.5)
366.5
(101.8)
(407.5)
2,257.9
56,442.0
(1,381.5)
8.7
(311.5)
1.5
60.2

10,192.0
7,852.1
1,488.3
3,385.6
4,449.8
5,585.0
739.9
767.2
848.6
429.5
94.3
7.8
21,900.3
1,372.1
300.0
38,470.3
3,902.8
1,066.8
8.2
2,278.1
23,527.5
101,642.5
1,858.2
171.9
200.0
37.2
3,292.7

(1,290.4)
103.7
(85.9)
(7,239.8)
(505.9)
75.0
(2,084.7)
(233.8)
(148.6)
(154.7)
(67.8)
(84.0)
7.8
(3,501.3)
(236.5)
(5.2)
(202.7)
300.0
3,728.0
2,229.3
(300.8)
0.2
(511.2)
(22,825.4)
(61,719.6)
(2,577.5)
(8.6)
(112.2)
(3.3)
(178.1)

5,484.4
66,652.5
22,440.5
58,082.8
841.9
-

2,512.1
26,636.0
8,977.1
23,223.4
199.4
-

19,787.8
278,582.2
93,782.4
242,750.6
4,894.5
250.0

3,743.8
(1,533.1)
(461.0)
(1,265.5)
85.8
250.0

1,356.5
104.9
56,742.2
972,742.6

253.2
3.4
(1,531.4)
110,991.9

10,770.9
792.8
18,795.1
6,209,482.7

2,633.6
(161.3)
(3,032.2)
(176,042.3)