Idaho
Public finance
Idaho's annual budget, prepared by the Division of Financial Management, is submitted by the governor to the legislature for amendment and approval. The fiscal year runs from 1 July to 30 June. The state constitution requires that the legislature pass a balanced budget, and the governor, as the chief budget officer, has regularly assured that expenditures do not exceed revenues. This became more difficult as revenues, which grew 5.2% and 4.2% in 2000 and 2001, respectively, fell in 2002 to $1.7 billion from $1.99 billion in 2001, and then remained weak, at $1.77 billion, in 2003. The beginning balance for the general fund in 2000/01 was $285 million. By 2003/04, the beginning balance had dropped to 0, and according to the projected budget for the General Fund, will only be $1 million in 2004/05 including $36 million in Idaho's Budget Stabilization Fund. Also included is additional revenue from a hike in the state sales tax rate from 5% to 6.5% effective 1 May 2003 (generating increased revenues estimated at $18.2 million in 2002/03, and $240.3 million in 2003/04) and an increase in the cigarette tax from 28¢ to 62¢ a pack for 2003/04 (generating an estimated additional $28.7 million in revenues) In 2002, cuts in planned expenditures made after the budget had been passed by the legislature totaled $64.1 million, with no budget sectors exempt from cuts. Budget cuts made after the 2002/03 budget had been passed totaled $19.5 million, including a 1.1% reduction in state Medicaid funding (which, counting just state spending, grew 11.1% in 2001/02 and 11.4% in 2002/03, and is projected to grow 3.2% in 2003/04), plus 3.5% cuts across most other state agencies, exempting only most education budgets (although Idaho State University is reported to have set aside 4.5% of its 2002/03 budget which was already 10% lower than the year before).
General fund revenues are projected to grow 4.1% in 2003/04, to $1.85 billion, still below 2000/01 levels. In 2002/03, estimated general fund expenditures were $1.95 billion. Of total expenditures, 64.7% was allocated to education, 19% to health and human services; 9.2% to corrections and public safety, 3.8% for general government operations, 2% for natural resources, and 1% for economic development.
The following table from the US Census Bureau contains information on revenues, expenditures, indebtedness, and cash/securities for 2001.
| ($000) | PERCENT | PER CAPITA | |
| Population (thousands, 2001) | 1,321 | (X) | (X) |
| Total Revenue | 5,286,097 | 100.00 | 4,001.59 |
| General revenue | 4,558,746 | 86.24 | 3,450.98 |
| Utility revenue | – | – | – |
| Liquor store revenue | 61,344 | 1.16 | 46.44 |
| Insurance trust revenue | 666,007 | 12.60 | 504.17 |
| Exhibit: Salaries and wages | 800,901 | 16.17 | 606.28 |
| Total expenditure | 4,951,659 | 100.00 | 3,748.42 |
| General expenditure | 4,426,471 | 89.39 | 3,350.85 |
| Education | 1,768,837 | 35.72 | 1,339.01 |
| Public welfare | 922,920 | 18.64 | 698.65 |
| Hospitals | 43,079 | 0.87 | 32.61 |
| Health | 103,705 | 2.09 | 78.50 |
| Highways | 501,659 | 10.13 | 379.76 |
| Police protection | 42,569 | 0.86 | 32.22 |
| Correction | 159,142 | 3.21 | 120.47 |
| Natural resources | 148,907 | 3.01 | 112.72 |
| Parks and recreation | 31,885 | 0.64 | 24.14 |
| Government administration | 205,387 | 4.15 | 155.48 |
| Interest on general debt | 140,233 | 2.83 | 106.16 |
| Other and unallocable | 358,148 | 7.23 | 271.12 |
| Utility expenditure | – | – | – |
| Liquor store expenditure | 47,953 | 0.97 | 36.30 |
| Insurance trust expenditure | 477,235 | 9.64 | 361.27 |
| Debt at end of fiscal year | 2,341,978 | 100.00 | 1,772.88 |
| Cash and security holdings | 11,467,894 | 100.00 | 8,681.22 |