Medicaid Expansion and Financial Overview
Consensus Revenue Estimates
Consensus Estimate November 9, 2023
FY 2024 (Revised)
FY 2025
Percent
Change
Amount
Percent
Change
Percent
Amount
Change
(6.8) %
86.7
(8.5)
$ 4,550,000
1,470,000
52.000
1.0 % $ 4,700,000
3.3 %
(2.3)
(8.7)
1,380,000
53.000
6.4 % $ 6,072,000
0.1 %
$ 6,133,000
(6.1)
1.9
1.0 %
Income Taxes:
Individual
Corporation
Financial Institutions
Total
Sales & Use Taxes:
FY 2023 (Actual)
Amount
$ 4,507,007
1,504,575
56,944
$ 6,068,526
Retail Sales
Compensating Use
$ 2,776,857
802,991
Total
$ 3,579,848
0.6 % $ 2,760,000
3.6
870.000
1.3 % $ 3,630,000
(0.6) %
$ 2,610,000
(5.4) %!
8.3
1.4 %
885.000
1.7
$ 3,495,000
(3.7) %
Other Excise Taxes:
Cigarette
$
98,453
(10.0) % S
94,000
(4.5) %
$
90,000
(4.3) %
Tobacco Products
10,358
1.8
10,700
3.3
10,900
1.9
Liquor Gallonage
24,351
(0.8)
24,000
(1.4)
24,000
Liquor Enforcement
83,675
0.8
84,500
1.0
85,000
0.6
Liquor Drink
14,951
8.7
15,900
6.3
16,300
2.5
Gas Severance
20.890
0.3
(300)
(101.4)
6,900
2,400.0
Oil Severance
37,234
5.4
26,300
(29.4)
25,900
(1.5)
Total
$
289,914
(2.4) %
S
255,100
(12.0) %
$
259,000
1.5 %
Other Taxes:
Insurance Premiums
$
195,541
(0.4) %
$
207,000
5.9 % $
212,000
2.4 %
Motor Carrier
11.982
(7.3)
11.600
(3.2)
11.300
(2.6)
Corporate Franchise
9,191
8.7
9,400
2.3
9,600
2.1
Miscellaneous
5,226
16.4
5,900
12.9
6,300
6.8
Total
$
221,940
(0.1) %
$
233.900
5.4 % $
239.200
2.3 %
Total Taxes
$ 10,160,227
4.1 % $ 10,191,000
0.3 % $ 10,126,200
(0.6) %
Other Revenues & Receipts:
Interest
Transfers & Other Receipts
Agency Earnings
$ 200,484
(1.194.467)
116,566
Total
Total Receipts
$ (877,417)
7,004.3 % S 380,000
37.6
(383,400)
66.6
95,900
52.4 % $ 92,500
89.5 % $ 310,000
67.9
(276,800)
(17.7)
97,900
110.5 % $ 131,100
(18.4) %
27.8
2.1
41.7 %
$ 9,282,810
17.3 % $ 10,283,500
10.8 % $ 10,257,300
(0.3) %
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