Legislative Budget Office of the Legislative Service Commission  
LBO BUDGET FOOTNOTES INFOGRAPHIC  
Click here for the full edition of Budget Footnotes  
Issue: February 2021  
Volume: Fiscal Year 2021  
GRF tax revenues of $2.32 billion in the month of January were $81.3 million (3.6%) above esꢀmate, bringing the posiꢀve variance in year-to-date  
YTD) GRF tax revenues to $539.1 million (3.7%).  
(
The personal income tax had the largest posiꢀve variance in January, exceeding esꢀmates by $71.5 million (7.2%) for the month and increasing its  
posiꢀve YTD variance to $146.8 million (2.5%).  
The sales and use tax, the largest GRF tax, conꢀnued to come in over esꢀmate with a posiꢀve variance of $41.8 million (4.1%) in January. This  
increased this taxs posiꢀve YTD variance to $398.3 million (6.0%) at the end of January.  
The commercial acꢀvity tax had a negaꢀve variance in January of $13.3 million (18.1%), increasing this taxs negaꢀve YTD variance to  
$
28.3 million (3.3%).  
The negaꢀve YTD variance in GRF program expenditures increased by $508.8 million in January, increasing its negaꢀve YTD variance to  
1.21 billion (5.4%). Although expenditures for all program categories, except for Primary and Secondary Educaꢀon, were under their YTD  
esꢀmates at the end of January, this negaꢀve variance was dominated by a negaꢀve YTD variance in GRF Medicaid spending of $999.0 million  
8.4%). Non-GRF Medicaid spending, on the other hand, was above esꢀmate YTD by $10.0 million (0.1%). Medicaid spending is compared to  
$
(
esꢀmates that were updated in September 2020 in response to the COVID-19 pandemic. These esꢀmates are about $3 billion higher for all funds  
than those used for H.B. 166.  
GRF & Medicaid Variances – Actual vs. Estimate  
Tax revenue  
81.3 million  
Federal grants  
Total GRF sources  
$
-$21.3 million  
-1.9%  
$77.2 million  
2.3%  
3
.6%  
Program expenditures  
$508.8 million  
Total GRF uses  
-
-$499.2 million  
-15.8%  
Month of January  
-
16.1%  
GRF Medicaid  
$459.8 million  
Non-GRF Medicaid  
All funds Medicaid  
-
$60.0 million  
5.3%  
-$399.8 million  
-14.4%  
-
27.7%  
Tax revenue  
539.1 million  
Federal grants  
Total GRF sources  
$
-$657.4 million  
-7.9%  
-$80.3 million  
-0.3%  
3
.7%  
Program expenditures  
$1,207.8 million  
Total GRF uses  
-
-$1,208.8 million  
-5.3%  
YTD through January  
-
5.4%  
GRF Medicaid  
$999.0 million  
Non-GRF Medicaid  
All funds Medicaid  
-
$10.0 million  
0.1%  
-$989.0 million  
-5.1%  
-
8.4%