In Texas, as in other states, lawmakers and public officials are elected in part to manage the state's finances. This includes generating revenues (money coming into the state from various sources) and approving expenditures (the money spent on governmental functions and servicing state debt). State budgets are complex and fluid, as they depend on anticipated revenues and planned expenditures, which may alter over the course of a fiscal year. If revenues do not keep pace with expenditures, states generally have to raise taxes, cut services, borrow money, or a combination of the three. State budget decisions are also influenced by policy decisions at the national level, such as the Affordable Care Act or energy and environmental regulations, and issues at the local level, such as crime and the quality of education. HIGHLIGHTS DefinitionsThe following terms are used to describe a state's finances:
Revenues2016 revenuesSee also: State government tax collections by sourceThe table below breaks down state government tax collections by source in 2016 (comparable figures from surrounding states are also provided to give additional context). Figures for all columns except "2016 population" and "Per capita collections" are rendered in thousands of dollars (for example, $2,448 translates to $2,448,000). Figures in the columns labeled "2016 population" and "Per capita collections" have not been abbreviated.[3]
The table below lists 2016 tax collections by source as percentages of total collections. About 88.9 percent of Texas' total state tax collections came from sales taxes and gross receipts.[3]
Federal aid to the state budgetSee also: Federal aid to state budgetsState governments receive aid from the federal government to fund a variety of joint programs, mainly in the form of grants for such things as Medicaid, education, and transportation. In 2014, federal aid to the states accounted for roughly 31 percent of all state general revenues. Federal aid varies from state to state. For example, Mississippi received approximately $7.2 billion in federal aid in 2014, accounting for about 41 percent of the state's general revenues, the highest percentage of all of the states. By contrast, North Dakota received about $1.5 billion in federal aid in 2014, or just 17 percent of the state's general revenues, the lowest percentage in the nation.[4] The table below notes what share of Texas’ general revenues came from the federal government in 2014. That year, Texas received approximately $38.6 billion in federal aid, 31.8 percent of the state's general revenues. Taking into consideration the state's 2014 population, this came out to about $1,434 in federal aid per capita. Figures from surrounding states are provided for additional context.[4]
SpendingEstimated 2016 expendituresSee also: Total state expendituresThe table below breaks down estimated spending totals for fiscal year 2016 (comparable figures from surrounding states are included to provide additional context). Figures for all columns except "Population” and “Per capita spending" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the columns labeled "Population” and “Per capita spending" have not been abbreviated.[5] The total estimated government spending in Texas in fiscal year 2016 was $127.3 billion.
Spending by functionSee also: State spending by function as a percent of total expendituresState spending in Texas can be further broken down by function (elementary and secondary education, public assistance, etc.). Fiscal year 2015 information is included in the table below (information from neighboring states is provided for additional context). Figures are rendered as percentages, indicating the share of the total budget spent per category.[5] In fiscal year 2015, education accounted for 37.5 percent of Texas' total expenditures.
Spending trendsThe table below details the spending trends in Texas in previous years. Figures are rendered as percentages, indicating the share of the total budget spent per category.[1][6][7]
Public school funding in Texas State debtSee also: Texas state debtState debt refers to any debt owned by a state government. Debt may include any financial obligations a state has that have not been paid, such as bonds issued by state governments, money borrowed by a state government that has not been repaid, or post-retirement benefits promised to state employees. According to the U.S. Census Bureau, Texas had a debt of $48,237,511,000 in fiscal year 2015. The state debt per capita was $1,759. This ranked Texas sixth among the states in debt and 42nd in per capita debt. The total state debt owned by the 50 states was $1.15 trillion with a per capita debt of $3,582.[8] Economic indicatorsSee also: Economic indicators by state Texas' GDP increased by 5.2 percent in 2014. Click the image to view a larger version. Broadly defined, a healthy economy is typically one that has a "stable and strong rate of economic growth" (gross state product, in this case) and low unemployment, among many other factors. The economic health of a state can significantly affect its healthcare costs, insurance coverage, access to care, and citizens' physical and mental health. For instance, during economic downturns, employers may reduce insurance coverage for employees, while those who are laid off may lose coverage altogether. Individuals also tend to spend less on non-urgent care or postpone visits to the doctor when times are hard. These changes in turn may affect the decisions made by policymakers as they react to shifts in the industry. Additionally, a person's socioeconomic status has profound effects on their access to care and the quality of care received.[9][10][11] Between 2011 and 2013, residents in Texas had a median annual household income of $51,752, highest among neighboring states. The state also had the largest portion of residents that earned incomes above 400 percent of the federal poverty level in 2013.[12][13][14][15] Note: Gross state product (GSP) on its own is not necessarily an indicator of economic health; GSP may also be influenced by state population size. Many factors must be looked at together to assess state economic health.
Budget processState documents and agenciesBelow are links to official Texas budget and financial documents. The first is the state's Comprehensive Annual Financial Report (CAFR). A CAFR is a detailed presentation of a government entity's financial condition. This includes fiscal activities and balances for a fiscal year. The second link is to the state's relevant budget agency or office.
The state operates on a biennial budget cycle. The sequence of key events in the budget process is as follows:[16]
The legislature is constitutionally required to adopt a balanced budget. The governor must sign a balanced budget into law.[16] Agencies, offices, and committeesThe following standing committees in the Texas State Legislature deal with budget and finance matters:
Public Interest Research Group 2016 reportThe U.S. Public Interest Research Group, a consumer-focused nonprofit organization based in Washington, D.C., released its annual report on state transparency websites in April 2016. The report, entitled "Following the Money," measured how transparent and accountable state websites were with regard to state government spending. According to the report, Texas received a grade of A- and a numerical score of 93.5, indicating that Texas was "Leading" in terms of transparency regarding state spending.[17] Budget and finance ballot measures
Ballotpedia has tracked the following ballot measures relating to state and local budget and financial matters in Texas.
Budget and finance legislationThe following is a list of recent budget and finance bills that have been introduced in or passed by the Texas state legislature. To learn more about each of these bills, click the bill title. This information is provided by BillTrack50 and LegiScan. Note: Due to the nature of the sorting process used to generate this list, some results may not be relevant to the topic. If no bills are displayed below, no legislation pertaining to this topic has been introduced in the legislature recently. Recent newsThe link below is to the most recent stories in a Google news search for the terms Texas budget. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles. Contact informationTexas Governor's Office of Budget, Planning and Policy See also
Footnotes
What is most of Texas budget spent on?Texas's largest spending areas per capita were elementary and secondary education ($2,179) and public welfare ($1,512). The Census Bureau includes most Medicaid spending in public welfare but also allocates some of it to public hospitals.
What are dedicated funds quizlet?General Revenue-Dedicated Funds budget. a budget composed of funds for dedicated revenues that target money for specific purposes. Federal Funds budget. a state budget that includes all grants, payments, or reimbursements received from the federal government by state agencies and institutions.
What are the top 3 expenditures in the Texas budget?For FY 2022, the three biggest state government programs are health care, education, and pensions. Units: By default, values are displayed in billions of nominal dollars.
What is unique about the Texas state budget?What is unique about the Texas state budget? While most states have only one budget, Texas has two. Legislators in Texas are subject to term limits and may only serve in office for two terms.
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The Texas budget includes over 200 Dedicated Funds to support specific public policy areas
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