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A Report to the Citizens of Texas
Sept. 1, 2007 – Aug. 31, 2008

Texas Finances

An independent audit was conducted, resulting in a clean audit opinion. Complete financial information can be found at State of Texas Comprehensive Annual Financial Report.

Primary Government Sources of Revenue

For the Fiscal Years Ended Aug. 31, 2008 and 2007
(Amounts in Thousands)

This table and pie chart show where the state's money comes from.

Pie Chart: Taxes 42%, Other General Revenues 3%, Charges for Services 21%, Operating Grants and Contributions 31%, Capital Grants and Contributions 3%.
Total Primary Government
  2008 2007 % Change
Revenue by Source
Charges for Services $ 20,898,098 $ 22,317,963 -6.36
Operating Grants and Contributions 30,708,652 38,996,836 -21.25
Capital Grants and Contributions 2,831,469 2,021,417 40.07
Taxes 41,419,231 37,071,589 11.73
Other General Revenues 3,451,917 3,638,391 -5.13
Total Revenues $ 99,309,367 $ 104,046,196 -4.55

Note: Other General Revenues include investment earnings, the settlement of claims, gain on the sale of capital assets and school district settle-up funds.

Primary Government Functional Expenses

For the Fiscal Years Ended Aug. 31, 2008 and 2007
(Amounts in Thousands)

This table and pie chart show where the state's money goes.

Pie Chart: General Government 3%, Education 44%, Employee Benefits 2%, Health and Human Services 35%, Public Safety and Corrections 5%, Transportation 5%, Natural Resources / Recreational Services 2%, Other Expenses 1%, Lottery 3%.
Total Primary Government
  2008 2007 % Change
Expenses
General Government $ 2,836,834 $ 2,741,937 3.46
Education 43,605,792 38,479,128 13.32
Employee Benefits 1,847,954 2,078,171 -11.08
Health and Human Services 33,893,231 32,091,093 5.62
Public Safety and Corrections 5,101,504 5,111,066 -0.19
Transportation 4,642,389 4,378,039 6.04
Natural Resources/Recreational Services 1,698,468 1,500,854 13.17
Other Expenses 976,944 543,620 79.71
Lottery 2,634,446 2,691,210 -2.11
Total Net Expenditures $ 97,237,562 $ 90,524,963 7.42

Note: Employee Benefits includes Teacher Retirement Benefits. Other Expenses include regulatory services and interest on long-term debt.

Cash Condition

Cash Balances in State Treasury
All Fund Excluding Trust, Fiscal 2008 Ending Balances
(Amounts in Thousands)

This table and bar chart show cash activity and ending cash balances in the State Treasury.

Bar chart: Information is repeated in table.
  General
Revenue
Other
Funds
Total
Cash
Beginning Balance
Sept. 1, 2007
$ 12,399.0 $ 5,350.8 $ 17,749.7
Revenue 73,274.9 13,708.1 86,983.0
Expenditures (69,279.0) (12,656.8) (81,935.8)
Net Interfund Transfers and Investment (6,583.2) 15,014.3 8,431.2
Total Cash Activity (2,587.3) 16,065.7 13,478.4
Ending Cash Balance
Aug. 31, 2008
$ 97,237,562 $ 90,524,963 107.94

Note: With some exceptions, General Revenue is money the state can use for general purpose spending. Other Funds include the State Highway Fund, the Texas Mobility Fund, trust funds and constitutional funds.

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