Legislative Budget Office of the Legislative Service Commission
LBO BUDGET FOOTNOTES INFOGRAPHIC
Click here for the full edition of Budget Footnotes
Issue: December 2020
Volume: Fiscal Year 2021
GRF tax revenues of $2.08 billion in the month of November were $46.4 million (2.3%) above esꢀmate, bringing the posiꢀve variance in
year-to-date (YTD) GRF tax revenues to $393.6 million (3.8%).
The sales and use tax, the largest GRF tax, conꢀnued to lead the way with a posiꢀve variance of $39.0 million (4.2%) in November. This
increased this tax’s posiꢀve YTD variance to $306.9 million (6.6%) at the end of November.
Aꢁer a couple months of negaꢀve variances, the personal income tax came in above esꢀmate in November by $2.1 million (0.3%),
increasing its posiꢀve YTD variance to $69.9 million (1.7%).
The commercial acꢀvity tax had a negaꢀve variance in November of $6.3 million (1.9%), increasing this tax’s negaꢀve YTD variance to
$
21.4 million (2.7%).
A posiꢀve November variance in GRF program expenditures of $171.2 million (5.5%) was dominated by a posiꢀve variance in GRF Medicaid
spending of $133.7 million (7.3%). YTD GRF Medicaid spending was under esꢀmate by $411.9 million (4.5%). Non-GRF Medicaid spending
was slightly under esꢀmate in November ($9.3 million, 1.1%), reducing its posiꢀve YTD variance to $14.5 million (0.3%).
Expenditures for all GRF program categories, except for Primary and Secondary Educaꢀon, were under their YTD esꢀmates at the end of
November. Total program expenditures had a negaꢀve YTD variance of $554.4 million (3.3%).
GRF & Medicaid Variances – Actual vs. Estimate
Tax revenue
46.4 million
Federal grants
Total GRF sources
$
$91.0 million
7.2%
$135.9 million
4.1%
2
.3%
Program expenditures
171.2 million
Total GRF uses
$
$171.2 million
5.5%
Month of November
5
.5%
GRF Medicaid
133.7 million
Non-GRF Medicaid
All funds Medicaid
$
-$9.3 million
-1.1%
$124.4 million
4.7%
7
.3%
Tax revenue
393.6 million
Federal grants
Total GRF sources
$
-$300.5 million
-4.7%
$112.2 million
0.7%
3
.8%
Program expenditures
$554.4 million
Total GRF uses
-
-$588.8 million
-3.4%
YTD through November
-
3.3%
GRF Medicaid
$411.9 million
Non-GRF Medicaid
All funds Medicaid
-
$14.5 million
0.3%
-$397.4 million
-2.9%
-
4.5%