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No Mass Gov

VIEWS: 6 PAGES: 24

									                                   FY04           FY05              %
                                 projected      House 1 Variance Change
Revenue (consensus)                15,230.0      15,801.0   571.0   3.75%
Close tax loopholes                      -           70.0    70.0  100.0%
Total taxes                        15,230.0      15,871.0   641.0    4.2%
Pension (consensus)                   (687.4)    (1,217.0) (529.6)  77.0%
MBTA (consensus)                      (684.3)      (684.3)    -      0.0%
Subtotal, available for budget     13,858.3      13,969.7   111.4    0.8%
Federal reimbursement               4,838.7       5,133.9   295.2    6.1%
Additional federal aid, FMAP           305.0        139.0  (166.0) -54.4%
Other revenues                      3,092.9       3,845.9   753.0   24.3%
Total Budgeted Revenue             22,094.9      23,088.5   993.6    4.5%
Turnpike reserves         190
SBA refinancing savings   150
One-time fed aid: FMAP    139
Renewable Energy Trust     17
Debt Defeasance             7
Lead Abatement Trust        4
  Total                   507
                               FY04       FY05               % Change % of FY05
                             Spending    House 1    Variance FY04-FY05 House 1
Medicaid                       6,197.0    6,693.4     496.4     8.0%      29.1%
K-12 Education                 3,496.0      3,611     115.0     3.3%      15.7%
Debt Service                   1,596.6    1,772.3     175.7    11.0%       7.7%
Subtotal, all of the above    11,289.6   12,076.7     787.1     7.0%      52.6%
Turnpike on-budget                 -        274.0     274.0   100.0%       1.2%
Subtotal, all other           10,596.5   10,628.5      32.0     0.3%      46.3%
            Total             21,886.1   22,979.2   1,093.1     5.0%     100.0%
                $130M                 $20.1M
100%
                                       Other
                Savings                 Legal
                                          IT
                                        Police
  80                                 Marketing
                                        HR
  60                               Administration
            Turnpike costs
  40       merged with MHD            Finance

  20
                                   Toll Collection

   0
       Current Turnpike Spending     Savings
            Comparison of Annuity, Pension, and Pension Cap with
                        Sudden Earnings Increase
          Group 1, 30 years service retiring at 65, contributing 9% of pay + 2% of amount over
                 $30,000, pay rises from $5,000 to $60,000 3 years before retirement
                          Earnings
                          Annuity
$70,000
                          Pension (Option A)
                          Pension Cap - Deemed Contribution
$60,000


$50,000


$40,000


$30,000


$20,000


$10,000


    $0
           37     39    41     43    45    47     49    51     53    55     57    59     61      63   65
                                                       Age

								
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