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Louisiana At The Crossroads Responsible Responses to Louisiana’s Fiscal Crisis

Louisiana At The Crossroads Responsible Responses to Louisiana’s Fiscal Crisis . Louisiana Budget Project. 3-Year Base Line Projection. 3-Year Cumulative Shortfall. (in millions) FY10 FY11 FY12. Percent of Total Budget. $2.4 billion ÷ $29 billion = 8%.

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Louisiana At The Crossroads Responsible Responses to Louisiana’s Fiscal Crisis

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  1. Louisiana At The Crossroads Responsible Responses to Louisiana’s Fiscal Crisis Louisiana Budget Project

  2. 3-Year Base Line Projection

  3. 3-Year Cumulative Shortfall (in millions) FY10 FY11 FY12

  4. Percent of Total Budget $2.4 billion ÷ $29 billion = 8% 3-year Cumulative Shortfall Total FY10 Budget Percent of total FY10 budget to be cut over 3 years

  5. FY10 Total Means of Financing

  6. Percent of State General Fund Spending $2.4 billion ÷ $9 billion = 27% 3-year Cumulative Shortfall FY10 State General Fund Percent of FY10 state general fund to be cut over 3 years

  7. Discretionary vs. Non-Discretionary

  8. Percent of Discretionary Spending $2.4 billion ÷ $4 billion = 60% 3-year Cumulative Shortfall FY10 Discretionary Funds Percent of FY10 discretionary fund to be cut over 3 years

  9. Percent of Recurring Discretionary Spending $2.4 billion ÷ $3.3 billion = 73% 3-year Cumulative Shortfall FY10 Discretionary Funds (minus one-time funds for Capital Outlay) Percent of FY10 recurring discretionary fund to be cut over 3 years

  10. FY10 Discretionary Expenditures

  11. Unaddressed Obligations

  12. FMAP Rate Change

  13. Louisiana Statistics • Health • 47th among all states in terms of health outcomes • Wealth • 48th among all states for median household income • 18% of citizens live below the federal poverty level • Education • 20% of population over 25 lacks high school diploma • 80 % of population over 25 lacks bachelor’s degree

  14. Fiscal Impact • FY11 • Second half of the year FMAP = 63.2% • Cost = $400 Million • FY12 • Entire year FMAP = 63.2% • Cost = $900 Million • Total Cost Over 2 Years = $1.3 Billion

  15. Effects of Budget Cuts • Less access to healthcare • Fewer hospitals • More pressure on emergency room facilities • Less rich college curriculum • Elimination of state homes for developmentally disabled • Less funding for adult literacy programs • Bad roads getting worse

  16. We Need a Balanced Approach

  17. 5-Year Tax Exemption Budget $6.5 BILLION

  18. Fiscal Effect of Stelly Repeals

  19. State & Local Taxes in 2007

  20. Thank you! Questions? www.labudget.org

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