General Fund Outlook: 1997-1998

(Dollars in Millions)

1996 Actual 1997 Approp. 1998 Est.
Current Law Revenues 684.7 719.7 706.8
Sales and Use @ 5% 0.0 0.0 33.6
Petroleum Cleanup Transfer 0.0 0.0 (0.7)
Act 200 (Property Transfer) (2.6) (2.5) (2.6)
Direct Applications & Reversions 23.0 9.6 8.0
Total Revenue: 715.1 726.8 745.1

Base Appropriations

722.4

721.4

732.4
Pay Act (2.8) 0.0 2.2
Estimated Budget Adjustment (17.2) (1.0) 0.0
Total Spending: 702.4 720.4 734.6

Operating Surplus (Deficit)

12.7

6.4

10.5
Carryforward Balance (14.5) 0.0 0.0
Transfer (to)/from Transportation Fund 6.7 0.0 0.0
Transfer (to)/from Reserve (4.8) (6.4) (10.5)
Ending Balance: 0.0 0.0 0.0
Stabilization Reserve: 4.8 11.2 21.7

Cum. Ending Bal. + Reserve

4.8

11.2

21.7

Source: Governor’s Executive Summary (1/14/97); Emergency Board Official Forecast (1/15/97)