Posted on 02/08/2008 7:04:29 AM PST by sf4dubya
The State of Nevada's revenues grew $396.6 million in fiscal year 2007, a 5.67 percent gain to $7.4 billion.
But the state's expenses for 2007 were $7.2 billion, a full $1 billion higher than the previous year.
The data is contained in the state's Comprehensive Annual Financial Report released by Controller Kim Wallin this week. She said the economic downturn, which caused the governor to call for budget reductions from all agencies receiving General Fund money, has created a lot of interest in the report.
She pointed out the budget cuts are based not on the Fiscal 2007 report but on the actual revenue collections since July 1, the start of Fiscal 2008, compared to the revenue projections used to build the 2008 budget.
The General Fund had revenues of $5.3 billion, up $199.6 million from fiscal 2006.
Wallin said that is a growth rate of 3.9 percent, half the 7.9 percent growth rate the previous year.
At the same time, General Fund expenditures were up 11.4 percent with the most significant increases in education and social services - primarily Medicaid - according to Wallin.
The report, referred to as the CAFR, is available to the public on the controller's Web site at www.controller.nv.gov.
-—nice that they found that forty million a few days ago—we sure must have a wonderful bookkeeping system in Carson City-—
As California’s economy continues to slide, tax dollars pouring into state coffers are falling short of paying the bills.
The Governator and Legislature are struggling to close a more than $14 billion budget gap. Likely before the slide is over, the gap will be even larger.
I left California for Nevada. I have a LOT of company.
The biggest struggle is making sure what was done in California DOES NOT happen here in Nevada.
Gibbons is cutting spending across the board by 4%, which the above information supports doing, so that Nevada DOES NOT become California.
We still need the spending cuts the Gov put forth or we are not going to dodge the budget bullet.
A lot of talk in the last 6 months about ‘lock, stock and barrel’ moving - it will be within the year.
-—between the state employees and the greedy geezers, we’re headed for the Commiefornia situation-—
Move to Nevada. California hates business; Nevada will welcome you with open arms. Plenty of affordable office & warehouse space available. The smart people from the Bay Area are moving here, including the companies setting up shop. Microsoft, Intuit, Cisco, etc. are all here trying to offset the costs incurred in California.
After being here for 6 months, trading views of the Pacific for views of the Sierras was the best thing I think we ever did.
When you get your first paycheck here, it REALLY hits you how much of your money the California libs were taking away from you.
My paycheck in NY has a lot of the same goodies as CA,
payed for courtesy of payroll taxes.
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