General Fund Revenues and Appropriations History

(dollars in millions)

FY85 FY86 FY87 F\88 FY89 FY90 FY91 FY92 FY93 FY94 FY95 FY96
GF Revenues $377.0 $414.2 $482.3 $518.9 $544.1 $565.0 $574.3 $635.7 $658.7 $682.1 $659.8 $694.7
% change 9.9% 16.4% 7.6% 4.9% 3.8% 1.6% 10.7% 3.6% 3.6% -3.3% 5.3%
GF Appropriation 364.5 386.7 433.1 492.4 577.3 589.1 643.3 656.8 642.7 656.0 689.6 702.4
% change 6.1% 12.0% 13.7% 17.2% 2.0% 9.2% 2.1% -2.1% 2.1% 5.1% 1.9%
Adjustments 3.1 1.8 2.3 (29.0) 1.6 21.5 3.6 13.2 2.9 (0.3) 12.8 20.4
Operating Surplus (Deficit) 15.6 29.3 51.5 (2.5) (31.6) (2.6) (65.4) (7.9) 18.9 25.8 (17.0) 12.7
Transfers + Prior Year Balance 4.7 (26.3) 9.3 63.7 43.5 2.6 8.2 (57.2) (58.2) (24.8) 2.5 (7.9)
Ending Balance 20.3 3.0 60.8 61.2 11.9 0.0 (57.2) (65.1) (39.3) 1.0 (14.5) 4.8

Notes: Adjustments include Direct Applications
FY89 appropriations include $43 million from FY88 revenues
Income tax tiers in place FY92-FY94
Property Transfer Tax accounted for differently starting in FY94, FY93 adjusted for this

Source: State of VT Annual Financial Report, Governors' Budget Recommendations