Outlook Projection FY 2023-24

OUTLOOK PROJECTION - FISCAL YEAR 2023-24 (in millions) NON RECURRING RECURRING TOTAL AVAILABLE GENERAL REVENUE 42,566.9 13,769.5 56,336.4 Putting It Together for Recurring Base Budget 39,022.1 0.0 39,022.1 Transfer to Budget Stabilization Fund 0.0 0.0 0.0 Critical Needs 300.3 111.7 412.0 Other High Priority Needs 680.0 855.6 TOTAL EXPENDITURES 40,002.5 967.4 1,535.7 40,969.8 the First Year ENDING BALANCE AFTER EXPENDITURES 2,564.4 12,802.1 15,366.6 Revenue Adjustments (24.0) (144.9) (168.9) Reserve 0.0 1,663.3 1,663.3 PROJECTED ENDING BALANCE 2,540.4 10,993.9 13,534.4 Combined, the costs of recurring and nonrecurring General Revenue Critical Needs are significantly less than the available General Revenue dollars. When Other High Priority Needs are added, the General Revenue projected surplus is $15.4 billion. After accounting for the revenue adjustments and a $1.66 billion Reserve, the projected General Revenue surplus is $13.5 billion, but 81.2 percent of this is nonrecurring dollars. 16

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