Thursday, April 23, 2015
Followup auditor’s report describes extent of raids on state special and revolving funds
by Larry Geller
In what may possibly qualify as one of the shortest auditor’s reports ever, report 15-03,which is a followup to a July 2012 report, sheds some light on the extent that special funds have been raided by the state, as well as the size of the special fund pool. Here’s a snip from the report. If you’re interested, click the link.
Non-general funds, such as special, revolving, and trust funds, exist outside the State’s primary operating source, the general fund. Over the past 30 years, the number of non-general funds and the amount of money within them have substantially increased. In FY2011, non-general funds accounted for a little more than half of the State’s $10.2 billion operating budget, up from one-third in 1992. This proliferation of non-general funds has hampered the Legislature’s ability to direct general fund spending.
•At least 729 non-general funds and accounts held an estimated unencumbered cash balance of $2.47 billion in FY2012.
•Between 1980 and 2010, the number of special and revolving funds more than tripled, to 313 funds.
•Fund raids authorized by the Legislature in FY2009, FY2010, and FY2011 totaled $161 million.