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.
| 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.
| 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.
| 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.