Idaho Budget Analysis
Idaho Comptroller’s website: http://www.sco.idaho.gov/
Idaho’s Comprehensive Annual Financial Reports can be found at: http://www.sco.idaho.gov/web/DSADoc.nsf/financial_reports_archive?OpenPage
Idaho is required to pass a “balanced budget”. Article 7, Section 11 of the 1890 Constitution, entitled “Expenditure Not Exceed Appropriation,” states no appropriation shall be made that exceeds the total revenue, unless the legislature causes for that expenditure to be paid within the fiscal year. Even with this provision in place, Idaho reported budget deficits in two of the three years studied. As with most states, an exception is given for the need to suppress insurrection, defend the state or assist the nation in time of war. Idaho law forbids the carrying over of a deficit from one year to the next.
Governmental funds include the General fund, special revenue funds, permanent funds and a capital projects fund. The state budgets on a cash basis. The State reports 5 major governmental funds: the General, Health and Welfare, Transportation, Public School Endowment, and Pooled Endowment Funds. Idaho budgets all of the major funds in addition to several non-major funds. From the information presented in the CAFR it seems as though most, if not all, of the governmental funds are budgeted. Although some information is missing from the Budgetary Comparison Schedules (beginning and ending balances), the information is presented efficiently (with inclusion of “Total” columns).
| CAFR Timeliness |
All Governmental Funds Items (in millions) |
GAAP Basis* | Budgetary Basis |
|---|---|---|---|
| FY2005 Beginning Balance | $ 5,395 | $ - | |
| Net Transactions | $ 467 | $ (68) | |
| 182 | FY2005 Ending Balance | $ 5,862 | $ (68) |
| Prior Period Adjustment | $ (95) | $ 68 | |
| FY2006 Beginning Balance | $ 5,767 | $ - | |
| Net Transactions | $ 578 | $ (45) | |
| 161 | FY2006 Ending Balance | $ 6,345 | $ (45) |
| Prior Period Adjustment | $ 62 | $ 45 | |
| FY2007 Beginning Balance | $ 6,407 | $ - | |
| Net Transactions | $ 751 | $ 69 | |
| 160 | FY2007 Ending Balance | $ 7,158* | $ 69 |
* The GAAP Basis balance is not an accurate representation the State’s financial condition, because significant liabilities are not included. These liabilities for the pension plans and for other post employment benefits, such as health care.
