Sentences with phrase «sof spending»

Taxpayers will receive the same net benefit, but SOF spending growth appears lower.3 Other substantial changes include shifts in workers from payrolls in the general fund to those paid by capital funds, reclassifying the Sales Tax Asset Receivable Corporation (STARC) funds from a miscellaneous receipt to an offset against spending, and shifting expenses off - budget as shown in Table 3.

Approximately $ 210 million was shifted out of SOF spending in fiscal year 2017, and almost $ 1.4 billion is being shifted in fiscal year 2018.

In fiscal year 2018, $ 827 million will be excluded from SOF spending because of this change, increasing to $ 938 million in fiscal year 2019.

As part of the FY2018 Budget, the State also began spending receipts from the Master Settlement Agreement off - budget, decreasing SOF spending by $ 103 million in fiscal year 2018 and $ 329 million in fiscal year 2019.5

More than $ 2.8 billion is being shifted out of fiscal year 2019 SOF spending.

SOF spending is a measure of cash disbursement for operations and debt service supported by State revenues; it excludes capital investments and spending supported by federal aid.

But this accounting change will decrease fiscal year 2019 SOF spending by $ 1.5 billion.

Taxpayers continue to receive the same net benefit, but SOF spending growth appears lower.

The Governor also proposes to shift $ 116 million in agency costs to capital funds, while moving $ 390 million in other expenses from capital to SOF, for a net impact of increasing SOF spending by $ 274 million.6 (See Table 2.)

When adjusting for these shifts, the FY2019 Executive Budget increases SOF spending by 4.1 percent.

The Governor has claimed to have kept SOF spending growth to 2 percent or less in every year of his tenure.2 However, for the second year in a row, the budget remains within this limit because (1) items previously categorized as state operating spending have been shifted to «off budget» accounts; (2) cash disbursements have been shifted between fiscal years; and (3) other spending items have been reclassified.3

Not exact matches

State Operating Funds (SOF) spending is a measure of cash disbursement for operations and debt service supported by State revenues; it excludes capital investments and spending supported by federal aid.

The Enacted Financial Plan reports 2 percent SOF growth from fiscal years 2017 to 2018, but consistently tracking spending between the two years indicates the growth is greater.

Now in her second year as principal, Rosalind Chivis had a hand in the school's start - up and spent several years in the district central office before being sent to rescue SOF.