Nevada_Executive_Budget_2013-2015

REVENUE SUMMARY
Nevada’s General Fund is the major operating fund of the state. The
state also has access to federal funds, the State Highway Fund, and
various other resources to support services. However, most specialized
funds, such as the Highway Fund, may be spent only on specifi ed
activities. By contrast, there are few restrictions on how money in the
General Fund is spent.
For the 2013-2015 biennium, General Fund resources represent
37 percent of total state revenues. Federal funds are increasing
signifi cantly in the 2013-2015 biennium and will comprise 34 percent.
The primary driver of federal fund increases is related to changes
and growth in the Medicaid program, as discussed in the Spending
Summary Section that follows. The State Highway Fund represents 5
percent and the balance comes from other funding sources.
General Fund sources include taxes; licenses; fees and fi nes; return of
unspent funds, including use of money and property; and transfers
from other funds. During the 2013-2015 biennium, sales and use,
gaming, modifi ed business, insurance, and mining taxes are projected
to comprise nearly 80 percent of total General Fund revenues.
The Governor’s Executive Budget must be balanced to revenue
projections made by the Economic Forum, a group of private
economic and fi nancial experts appointed by the Legislature and the
Governor. The Forum’s General Fund revenue forecasts are binding
on the Governor’s Executive Budget and on the Legislature’s approved
budget. On November 30, 2012, the Economic Forum set the revenue
projections that the Governor uses to construct his recommended
2013-2015 biennial budget. The Economic Forum will reconvene on
EXECUTIVE BUDGET 2013-2015
Highway�Fund
6%
INTRODUCTION - 6
Revenue Sources
2011-2013 Biennium
2013-2015 Biennium
Legislature Approved**
Governor Recommended
SOURCE
FY 2012 FY 2013 FY 2014 FY 2015
Balance Forward $448,710,307 $369,635,426 $524,590,833 $405,831,222
General Fund 3,104,727,045 3,099,883,028 3,211,249,331 3,334,952,194
Federal Fund 2,350,882,087 2,403,839,759 2,815,857,798 3,163,579,870
Highway Fund 475,040,599 467,051,944 379,634,479 410,990,699
Other* 1,569,384,634 1,586,109,318 1,710,002,068 1,677,997,748
Total $7,948,744,672 $7,926,519,475 $8,641,334,509 $8,993,351,733
Dollar Change (640,556,313) (22,225,197) 714,815,034 352,017,224
Percentage Change -7.46% -0.28% 9.02% 4.07%
Biennium
Total $15,875,264,147 $17,634,686,242
Dollar Change (451,621,123) 1,759,422,095
Percentage Change -2.77% 11.08%
*Net of inter-agency transfers **Source: Legislative Appropriations Report, Nov. 2011
2011�2013�Biennium�Revenue�Sources
Other*
20%
Federal�Fund
30%
* *Net�of finter�agency�transfers f
General�Fund
39%
Balance�Forward
5%
Highway�Fund
5%
2013�2015�Biennium�Revenue�Sources
Other*
19%
Federal�Fund
34%
* *Net�of finter�agency�transfers f
General�Fund
37%
Balance�Forward
5%