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A Report to the Citizens of Texas — Texas Finances

Fiscal 2012 • Sept. 1, 2011 – Aug. 31, 2012

An audit of the state’s financial statements resulted in a clean audit opinion. Complete financial information can be found in the Texas Comprehensive Annual Financial Report.

Primary Government Sources of Revenue

Operating grants and contributions are 43% of revenue. Taxes are 34%. Charges for services are 20%. Other general revenues are 3% and Capital grants and contributions are under 1%

For the fiscal years ended Aug. 31, 2012, and Aug. 31, 2011
(Amounts in thousands)

Total Primary Government
REVENUE BY SOURCE 2012 2011 % Change
Charges for Services $26,442,400 $25,019,637 5.69%
Operating Grants and Contributions $55,339,143 $61,323,706 -9.76%
Capital Grants and Contributions $307,328 $2,820,690 -89.10%
Taxes $44,338,553 $39,661,587 11.79%
Other General Revenues $3,537,552 $2,762,603 28.05%
TOTAL REVENUES $129,964,976 $131,588,223 -1.23%

Note: Operating Grants provides funding for the day-to-day operation of the state including personnel, administration and other regular expenses.
Capital Grants provides funding for buildings, construction or equipment, rather than program or operating expenses.
Other General Revenues includes investment earnings, the settlement of claims and gain on the sale of capital assets.


Primary Government Functional Expenses

For the fiscal years ended Aug. 31, 2012, and Aug. 31, 2011
(Amounts in thousands)

Total Primary Government
EXPENSES 2012 2011 % Change
General Government $3,266,400 $4,188,211 -22.01%
Education $48,391,419 $50,869,973 -4.87%
Employee Benefits $2,813,670 $2,587,115 8.76%
Health and Human Services $49,855,286 $50,931,243 -2.11%
Public Safety and Corrections $5,386,043 $5,625,417 -4.26%
Transportation $4,700,507 $4,587,674 2.46%
Natural Resources and Recreation $1,980,809 $1,897,815 4.37%
Lottery $3,027,943 $2,783,798 8.77%
Other Expenses $1,125,872 $1,205,145 -6.58%
TOTAL EXPENSES $120,547,949 $124,676,391 -3.31%
Health and Human Services accounts for 41% of total expenses. Education is 40%.  Public Safety/Corrections is 4%. Transportation is 4%. General government and lottery is 3%. Employee Benefits and Natural Resources and Recreation are 2% each.  Other expenses are 1%.

Note:  Texas is a “Pay-As-You-Go” state. Expenses must be covered by available revenue. The expenses above reflect the decrease in state revenue from 2011 to 2012.
Employee Benefits includes teacher retirement benefits. Other Expenses includes regulatory services and interest on long-term debt.


Ending Cash Balances

Values are in following table.

Ending Cash Balances in State Treasury

For the fiscal years ended Aug. 31, 2012, and Aug. 31, 2011
(Amounts in thousands)

2012 2011 % Change
Consolidated General Revenue $1,988,757 $2,629,415 -24.37%
Other Funds $30,276,007 $19,889,951 52.22%
ALL FUNDS $32,264,764 $22,519,366 43.28%

Note:  With some exceptions, General Revenue is money the state can use for general-purpose spending.
Other Funds includes the State Highway Fund, the Texas Mobility Fund, trust funds, constitutional funds and petty cash accounts (outside the state treasury).
The All Funds increase of 43.28 percent from fiscal 2011 to fiscal 2012 is attributable in part to the receipt of $9.8 billion from a Tax and Revenue Anticipation Note (TRAN) to help state government manage its cash flow between the start of the fiscal year and the arrival of tax revenues later in the year.

 

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