Legislative Budget Office of the Legislative Service Commission  
LBO BUDGET FOOTNOTES INFOGRAPHIC  
Click here for the full edition of Budget Footnotes  
Issue: June 2020  
Volume: Fiscal Year 2020  
State tax revenues in May conꢀnued to reflect the effects of the economic slowdown due to the COVID-19 pandemic. GRF tax revenue was  
271.3 million (13.0%) under esꢀmate for the month. This increased the year-to-date (YTD) negaꢀve variance to $1.05 billion (4.9%).  
$
The personal income tax, with a negaꢀve YTD variance of $767.0 million (9.7%) was responsible for 73.2% of the negaꢀve YTD variance in tax  
revenues. This tax had a negaꢀve variance of $91.4 million (15.1%) in May, but most of its negaꢀve YTD variance was caused by a negaꢀve  
variance of $635.7 million in April, which reflected the delay in the payment deadline from April 15 to July 15, in addiꢀon to the economic slow  
down.  
The sales and use tax, the largest GRF tax, had a negaꢀve variance of $167.3 million (17.6%) in May, less than this taxs negaꢀve variance of  
$
236.7 million (24.0%) in April, but sꢀll significant. At the end of May, this tax had a negaꢀve YTD variance of $326.6 million (3.3%).  
YTD GRF Medicaid expenditures were $382.4 million (2.7%) above esꢀmate at the end of May. This posiꢀve variance was offset by a negaꢀve  
variance in non-GRF Medicaid expenditures of $593.8 million (4.9%). Medicaid caseloads increased by more than 67,000 in May.  
GRF spending for all other program categories, except for Medicaid and Other Educaꢀon, were under esꢀmate YTD. Total program expenditures  
were $109.3 million (0.3%) under esꢀmate.  
On May 7, the governor signed an execuꢀve order requiring GRF budget reducꢀons totaling $775.0 million for FY 2020.  
GRF & Medicaid Variances – Actual vs. Estimate  
Tax revenue  
$271.3 million  
Federal grants  
Total GRF sources  
-
$217.9 million  
29.9%  
-$52.0 million  
-1.8%  
-
13.0%  
Program expenditures  
226.6 million  
Total GRF uses  
$
$226.6 million  
8.3%  
Month of May  
8
.3%  
GRF Medicaid  
266.0 million  
Non-GRF Medicaid  
All funds Medicaid  
$
-$412.9 million  
-32.9%  
-$146.9 million  
-6.1%  
2
2.7%  
Tax revenue  
$1,048.2 million  
Federal grants  
Total GRF sources  
-
$299.8 million  
3.4%  
-$686.3 million  
-2.2%  
-
4.9%  
Program expenditures  
$109.3 million  
Total GRF uses  
-
-$111.2 million  
-0.3%  
YTD through May  
-
0.3%  
GRF Medicaid  
382.4 million  
Non-GRF Medicaid  
All funds Medicaid  
$
-$593.8 million  
-4.9%  
-$211.4 million  
-0.8%  
2
.7%