2003-05 Budget Bill (House Bill 1001)

(as passed by the Senate Finance Committee on March 27, 2003)

(compiled on April 7, 2003)

Revenue Sources

FY 2004

FY 2005

General Fund Revenue

Sales and Use Tax Forecast

2,424,500,000

2,543,000,000

Individual Income Taxes Forecast

3,301,500,000

3,468,600,000

Federal Internal Revenue Code Changes

7,530,000

16,650,000

Corporate Income Taxes Forecast

560,500,000

580,600,000

Cigarette Tax Forecast

345,400,000

348,200,000

Alcoholic Beverage Tax Forecast

13,300,000

13,200,000

Inheritance Tax Forecast

120,000,000

120,000,000

Other Revenue Forecast

422,111,722

413,712,022

Intermittent Employees Benefits Removal From PERF

475,000

475,000

Auto Emissions Testing Program Fees

4,000,000

8,000,000

Home/Community Based Autism Slots Reduction

1,550,000

3,100,000

3% of Federal Reimbursement from School Medicaid Providers

66,960

66,960

Subtotal General Fund Revenue

7,200,933,682

7,515,603,982

Property Tax Replacement Fund Revenue

Sales and Use Tax Forecast

2,464,300,000

2,584,700,000

Individual Revenue Forecast

537,400,000

564,700,000

Gaming Revenue Forecast

550,700,000

607,400,000

Riverboat Admission Tax Guarantee Reduction

17,100,000

16,500,000

Riverboat Wagering Tax Accelerated Distribution

67,600,000

5,100,000

Subtotal PTRF Revenue

3,637,100,000

3,778,400,000

Total GF and PTRF Revenue

10,838,033,682

11,294,003,982

Fund Transfers

Pension Stabilization Fund Transfer

190,000,000

190,000,000

Public Depository Fund Transfer

50,000,000

0

Abandoned Property Fund Transfer

46,896,164

46,896,164

Industrial Industries Fund Transfer

2,000,000

2,400,000

Administrative Services Fund Transfer

0

2,500,000

Total Fund Transfers

288,896,164

241,796,164

Total GF and PTRF Revenue plus Fund Transfers

11,126,929,846

11,535,800,146

Tobacco Master Settlement Agreement Revenue Forecast

127,600,000

129,300,000

Other Dedicated Funds Revenue Forecast

1,579,182,947

1,497,563,947

Federal Funds Revenue Forecast

6,398,628,830

6,682,267,422

Grand Total Revenue Sources

19,232,341,623

19,844,931,515

Spending Areas

FY 2004

FY 2005

GF and PTRF Operating Appropriations

General Government

(316,573,928)

(320,532,637)

Corrections

(590,610,500)

(592,763,141)

Other Public Safety

(105,252,052)

(105,252,625)

Conservation And Environment

(74,962,113)

(70,384,804)

Economic Development

(43,891,958)

(43,891,958)

Transportation

(465,000)

(465,000)

Mental Health

(240,696,230)

(240,696,230)

Public Health

(68,594,547)

(68,814,715)

Medicaid

(1,266,419,812)

(1,266,419,812)

Family and Children

(229,046,215)

(229,046,215)

Social Services And Veterans

(227,767,947)

(227,767,947)

Higher Education

(1,448,053,310)

(1,498,151,223)

Education Administration

(56,745,362)

(56,745,362)

Tuition Support - General Fund

(2,040,955,447)

(2,056,217,947)

Tuition Support - Property Tax Replacement Fund

(1,591,844,553)

(1,606,832,053)

Social Security - Teachers

(2,403,792)

(2,403,792)

Teachers Retirement

(305,529,000)

(346,832,000)

Other Local Schools

(254,251,948)

(254,483,659)

Other Education

(11,668,403)

(11,668,403)

Property Tax Replacement And Homested Credits

(1,928,549,699)

(2,029,734,638)

Distributions - General Fund

(35,585,733)

(35,585,733)

Forgiven Abandoned Property Fund Loans To Charter Schools

(1,400,000)

Annual Fee Replacement Payments On University Bonds

(14,400,000)

(14,400,000)

Subtotal GF and PTRF Operating Appropriations

(10,855,667,549)

(11,079,089,894)

GF and PTRF Capital Project Appropriations

Higher Education Construction

(16,484,105)

(16,484,105)

Other Construction

(182,938,250)

(182,938,250)

Subtotal GF and PTRF Capital Project Appropriations

(199,422,355)

(199,422,355)

Total GF and PTRF Appropriations

(11,055,089,904)

(11,278,512,249)

Dedicated Funds Appropriations

Build Indiana Fund & Lottery/Gaming Surplus

(4,816,014)

(4,816,014)

Other Dedicated - Operating

(1,346,268,030)

(1,352,957,983)

Other Dedicated - Construction

(28,108,089)

(28,108,089)

Tobacco Settlement

(124,684,366)

(127,384,366)

Build Indiana Fund State And Local Capital Projects

(48,800,000)

(48,800,000)

Total Dedicated Funds Appropriations

(1,552,676,499)

(1,562,066,452)

Federal Funds Appropriations

(662,225,994)

(668,893,994)

Grand Total Spending Areas

(13,269,992,397)

(13,509,472,695)

SOURCES:

A. State of Indiana Budget Report for the Biennium July 1, 2003 to June 30, 2005

    ( available online at http://www.in.gov/sba/budget/2003_budget/as_submitted/index.html )

B. March 31, 2003, Fiscal Impact Statement for House Bill 1001

    ( available online at http://www.in.gov/legislative/bills/2003/PDF/FISCAL/HB1001.005.pdf )

NOTES:

FY = Fiscal Year (e.g. FY 2004 = July 1, 2003 to June 30, 2004)

GF = General Fund

PERF = Public Employees' Retirement Fund

PTRF = Property Tax Replacement Fund

Revenue Forecasts were made on December 18, 2002.

2003-05 Budget Bill (House Bill 1001)

(as passed by the House Ways and Means Committee on February 17, 2003)

(compiled on February 20, 2003)

Revenue Sources

FY 2004

FY 2005

General Fund Revenue

Sales and Use Tax Forecast

2,424,500,000

2,543,000,000

Individual Income Taxes Forecast

3,301,500,000

3,468,600,000

Federal Internal Revenue Code Changes

7,530,000

16,650,000

Corporate Income Taxes Forecast

560,500,000

580,600,000

Cigarette Tax Forecast

345,400,000

348,200,000

Alcoholic Beverage Tax Forecast

13,300,000

13,200,000

Inheritance Tax Forecast

120,000,000

120,000,000

Other Revenue Forecast

422,111,722

413,712,022

Local Revenue Sharing Decrease

16,500,000

16,500,000

3% of Federal Reimbursement from School Medicaid Providers

67,000

67,000

Subtotal General Fund Revenue

7,211,408,722

7,520,529,022

Property Tax Replacement Fund Revenue

Sales and Use Tax Forecast

2,464,300,000

2,584,700,000

Individual Revenue Forecast

537,400,000

564,700,000

Gaming Revenue Forecast

550,700,000

607,400,000

Homestead Credit Overpayment Correction

111,400,000

132,100,000

Riverboat Wagering Tax Accelerated Distribution

67,600,000

5,100,000

Subtotal PTRF Revenue

3,731,400,000

3,894,000,000

Total GF and PTRF Revenue

10,942,808,722

11,414,529,022

Fund Transfers

Pension Stabilization Fund Transfer

190,000,000

190,000,000

Tobacco Master Settlement Agreement Trust Fund Transfer

100,000,000

100,000,000

Public Depository Fund Transfer

50,000,000

0

Abandoned Property Fund Transfer

25,000,000

25,000,000

Industrial Industries Fund Transfer

2,000,000

2,400,000

Administrative Services Fund Transfer

0

2,500,000

Total Fund Transfers

367,000,000

319,900,000

Total GF and PTRF Revenue plus Fund Transfers

11,309,808,722

11,734,429,022

Other Dedicated Funds Revenue Forecast

1,579,182,947

1,497,563,947

Federal Funds Revenue Forecast

6,398,628,830

6,682,267,422

Grand Total Revenue Sources

19,287,620,499

19,914,260,391

Spending Areas

FY 2004

FY 2005

GF and PTRF Operating Appropriations

General Government

(320,684,327)

(323,920,200)

Corrections

(558,232,970)

(560,385,611)

Other Public Safety

(70,252,052)

(70,252,625)

Conservation And Environment

(78,214,977)

(78,307,396)

Economic Development

(47,966,958)

(47,966,958)

Transportation

(507,000)

(507,000)

Mental Health

(240,696,230)

(240,696,230)

Public Health

(103,458,273)

(103,678,441)

Medicaid

(1,343,519,812)

(1,452,319,812)

Family and Children

(254,046,215)

(254,046,215)

Social Services And Veterans

(218,807,215)

(218,807,215)

Higher Education

(1,473,791,862)

(1,517,375,429)

Education Administration

(56,745,362)

(56,745,362)

Tuition Support - General Fund

(2,006,826,280)

(2,088,092,946)

Tuition Support - Property Tax Replacement Fund

(1,555,023,720)

(1,536,057,054)

Social Security - Teachers

(2,403,792)

(2,403,792)

Teachers Retirement

(305,529,000)

(346,832,000)

Other Local Schools

(217,030,192)

(182,886,645)

Other Education

(11,668,403)

(11,668,403)

Property Tax Replacement And Homested Credits

(1,928,549,699)

(2,029,734,638)

Distributions - General Fund

(35,585,733)

(35,585,733)

Subtotal GF and PTRF Operating Appropriations

(10,829,540,072)

(11,158,269,705)

GF and PTRF Capital Project Appropriations

Higher Education Construction

(12,798,219)

(12,798,219)

Other Construction

(182,141,317)

(182,141,317)

Subtotal GF and PTRF Capital Project Appropriations

(194,939,536)

(194,939,536)

Total GF and PTRF Appropriations

(11,024,479,608)

(11,353,209,241)

Dedicated Funds Appropriations

Build Indiana Fund & Lottery/Gaming Surplus

(3,066,014)

(3,066,014)

Other Dedicated - Operating

(1,180,093,831)

(1,182,114,055)

Other Dedicated - Construction

(29,637,940)

(29,637,940)

Tobacco Settlement

(184,100,000)

(180,200,000)

Total Dedicated Funds Appropriations

(1,396,897,785)

(1,395,018,009)

Federal Funds Appropriations

(602,225,994)

(608,893,994)

Retroactive Appropriations for FY 2003

(16,700,000)

Grand Total Spending Areas

(13,040,303,387)

(13,357,121,244)

SOURCES:

A. State of Indiana Budget Report for the Biennium July 1, 2003 to June 30, 2005

( available online at http://www.in.gov/sba/budget/2003_budget/as_submitted/index.html )

B. February 18, 2003, Fiscal Impact Statement for House Bill 1001

( available online at http://www.in.gov/legislative/bills/2003/PDF/FISCAL/HB1001.002.pdf )

NOTES:

FY = Fiscal Year (e.g. FY 2004 = July 1, 2003 to June 30, 2004)

GF = General Fund

PTRF = Property Tax Replacement Fund

Keno revenue for the Build Indiana Fund ($45 million in both FY 2004 and FY 2005) was excluded.

Revenue Forecasts were made on December 18, 2002.