State of Texas
Annual Cash Report
Revenues and Expenditures of State Funds for the Year Ended August 31, 2011
November 7, 2011
The Honorable Rick Perry
State of Texas
Capitol Building, Room 2S.1
Austin, Texas 78701
Dear Governor Perry:
We are pleased to announce the publication of the Texas Annual Cash Report for the fiscal year ended Aug. 31, 2011. This report presents the state’s financial position and details revenues and expenditures on a cash basis as required by Texas Government Code Section 403.013.
The Consolidated General Revenue Fund ended the year with a cash balance in the state treasury of $2.6 billion, an increase of $678 million, or 34.8 percent, from fiscal 2010. Contributing to this increase was the net effect of a $3.2 billion appropriation from the Economic Stabilization Fund (ESF), an increase of $3.3 billion in revenue from tax collections and an increase of $6 billion in net expenditures and other transfers from the General Revenue Fund. The General Revenue Fund is appropriated to support general government expenditures.
Balances in Special Revenue and Trust Funds decreased from $28.7 billion in fiscal 2010 to $19.9 billion in fiscal 2011, primarily due to the differences in the timing of the receipt of the Tax and Revenue Anticipation Notes in the two years. The ESF finished fiscal 2011 with $5 billion, down $2.7 billion from the end of fiscal 2010 due to the net effect of a $500 million transfer into the fund and the 82nd Legislature appropriating $3.2 billion. The Unemployment Trust Fund ended fiscal 2011 at $829 million, up $789 million from the end of fiscal 2010.
Net revenues for all funds excluding trust increased by $6.9 billion, or 7.9 percent, from fiscal 2010, to a total of $94.3 billion in fiscal 2011. Tax collections totaling $38.9 billion, accounted for the largest revenue category and the largest dollar increase in revenue, up $3.5 billion, or 9.9 percent, from fiscal 2010. Federal income, the second largest revenue category, totaled $38.4 billion, an increase of $1.6 billion, or 4.3 percent, from fiscal 2010.
Total net expenditures for all funds excluding trust increased by $5 billion, or 5.6 percent, from fiscal 2010, to a total of $95.5 billion in fiscal 2011. The largest dollar spending increase by governmental function was in health and human services, which grew by $2.4 billion to a total of $38.7 billion. This increase of 6.7 percent is mainly attributable to an increase in caseload for both Medicaid and the Children’s Health Insurance Program.
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