1990’s: State enjoyed huge economic growth and diversification Total gross state product increased by 98% from 1991-2001. High-tech industry growth. Population.

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Presentation transcript:

1990’s: State enjoyed huge economic growth and diversification Total gross state product increased by 98% from High-tech industry growth. Population growth – 11 th fastest growing state. Personal income grew at annual rate of 5.6%, exceeding the nation. Exports increased by a compound annual rate of 5.8%. State General Fund grew from $4,628.1 million in to $10,121.8 million in – dollars primarily went to K-12, Oregon Health Plan, and Public Safety. Kicker returned for personal income tax filers 7 times, totaling over $1.5 billion; for corporate tax filers 5 times, totaling over $400 million.

All Funds Resources Total: $84,451.0 Million Expenditures Total: $40,809.3 Million

All Funds Expenditures Close of Session Total: $34,077.0 Million Final Total: $37,836.3 Million Legislatively Adopted Total: $ 14,360.4 Million Legislatively Adopted Total: $29,576.8 Million *Includes Consumer and Business Services

General Fund Forecast Comparison Fiscal Years, in Millions

Lottery Resources Available to the State Office of Economic Analysis Note: Resources do not include Video Lottery proceeds dedicated to the Counties. Beginning balance is included debt service figures do not reflect any Education Endowment Fund or reserve earnings designated for debt service on education bonds.

Approved General Fund & Lottery Funds 2 of 2

Legislatively Adopted General Fund and Lottery Funds Budget *Includes Oregon Health Sciences University Expenditures Total: $10,951.4 Million Revenues Total: $10,974.3 Million

General Fund and Lottery Funds by Program Area * Excludes additional PERS savings of $191.5 million that is used to balance the Governor’s Revised Budget and includes new discretionary resources. State School Fund Level

What has caused the General Fund expenditure growth since 1989? Primary –Population –Initiatives –Policy decisions Secondary –Inflation –Lawsuits

State and Local Resources for K-12 School Funding Billions of Dollars

Estimated Impact of Measure 11 on Oregon’s Prison System

Department of State Police Governor’s Balanced Budget Sworn Positions

Policy Decisions Oregon Health Plan (OHP) The Office of Medical Assistance Programs budget has increased significantly since The General Fund and tobacco funded portion has increased from approximately $201 million to $1.21 billion.

Other Issues General Risk Reserves/Other Fund Balances PERS/Labor Kicker Additional Lawsuits Bond Rating Annual Sessions Accountability/oversight vs. Reduced Administration Regulatory Reform Economic Recovery Pent-up Budget Demand Potential Initiatives One-time Revenues