Note: This article was last updated in 2010. Click here for more recent information on state budgets and finances. |
Wyoming was projected to had a minor budget gap of $31.8 million for FY 2010[1], but was in an enviable position compared to most states by having the needed budget reserves to deal with declining revenue estimates. At the same time, Gov. Dave Freudenthal advises maintaining a conservative fiscal approach noting there would not be pay raises for teachers and state staff as "the budget would basically be static." Cost-of-living raises for state and school employees would not be included in Gov. Freudenthal's budget recommendations for next year to the Wyoming State Legislature.
Wyoming was to receive approximately $40 million from the federal government under HR 1586, a $26 billion plan to give states money for Medicaid and education that the President signed into law on August 10, 2010.[2] The state, however, had not had significant teacher layoffs and so chose not to apply for its $17.5 million in education funds after being told by the federal Department of Education if it could use the money to build schools.[3][4]
Wyoming had a total state debt of $1,699,484,012 when calculated by adding the total of outstanding debt, pension and OPEB UAAL’s, unemployment trust funds and the 2010 budget gap as of July 2010.[5]
Approximately $700 million was in available reserves at the end FY2010, which ended June 30, 2010.[6]
Wyoming operates on a biennium budget. The biennium includes a 24-month period from July 1st of odd-numbered years to June 30th of odd-numbered years, such as the 2010-12 biennium, which runs from July 1, 2009 to June 30, 2011. All state agencies present their requests and past revenue and expenditure data by September or October for the Governor's consideration. The Consensus Revenue Estimating Group meets in October and develops revenue forecasts for the upcoming biennium. Following this, the Governor compiles a recommended budget that must be presented to the Legislature by December 1 of each year. Both the House and the Senate host a series of hearings to work through the budget. The entire budget working process takes 4 or 5 weeks and was completed at least one week before the budget session begins. Once both houses agree on the final budget bill the bill was passed into law.[7]
The following table provided a history of Wyoming's expenditures and gross domestic product (GDP).
Fiscal Year | Expenditures (billions) | GDP (billions) |
---|---|---|
2000 | $3.7[8] | $17.3[8] |
2001 | $4.0[8] | $18.2[8] |
2002 | $4.3[8] | $19.6[8] |
2003 | $4.7[8] | $21.7[8] |
2004 | $5.1[8] | $23.4[8] |
2005 | $5.6[8] | $26.6[8] |
2006 | $6.0[8] | $29.9[8] |
2007 | $6.4[8] | $31.5[8] |
2008 | $6.8[8] | $33.2[8] |
2009 | $7.2*[8] | $35.0*[8] |
The Institute for Truth in Accounting (IFTA) rates Wyoming “Tardy” in filing the state’s Comprehensive Annual Financial Report (CAFR) – The annual report of state and local governmental entities. IFTA rated 22 states timely, 22 states tardy, and 6 states as worst. IFTA did not consider Wyoming's CAFRs, and those of the other states, to be accurate representations of the state’s financial condition because the Generally Accepted Accounting Principles (GAAP) basis did not included significant liabilities for the pension plans and for other post employment benefits, such as health care.[9] Wyoming's CAFRs were prepared by theWyoming State Auditor. Rita C. Meyer was elected in 2006 Wyoming State Auditor, a constitutional office elected for a four year term by the general electorate of Wyoming. The Auditor was the State’s chief fiscal control officer. She maintains the central fiscal accounts, acts as the official custodian of accounting records, serves as the state payroll officer, and orders all payments into and out of the funds held in the state treasury.[10][11]
Credit Rating | Fitch | Moody's | S&P |
Wyoming[12] | NR | NR | AA+ |
In an effort to provided residents with property tax relief the Governor urged the funding the Homestead Exemption bill, however, lawmakers in the House and the Senate said that with the state's current economic climate a recent report on energy revenue. Sen. Phil Nicholas said,"We look at the declining revenues, and in light of the fact that we're going to be looking at cuts in the budgets, we're more interested in saving jobs." Rep. Rosie Berger said that even though she supported the tax relief measure, "It just didn't make sense over the last few weeks as we've been reviewing our budget and looking at our (revenue) estimates that we could offer that, and yet continue offering other services to the people of Wyoming."[13] Both the Governor and House Speaker Colin Simpson had made property tax relief a priority for the legislative session. The Governor said,"I can understand why they did what they did, and I don't intend to criticize them for it. I'd rather our revenue picture was different. I think it's just a harbinger of things to come."[13]
Wyoming would receive approximately $40 million from the federal government under HB 1586, a $26 billion plan to give states money for Medicaid and education that the President signed into law on August 10, 2010.[14][15]
Wyoming was expected to receive approximately $498 million from the $787 billion dollar economic stimulus.[16] All told, the federal stimulus plan would create or save 8,000 jobs in Wyoming, based on White House estimates.[17]
For more information on how the federal stimulus funds were being used in the state of Wyoming, visit the state recovery website.
According to preliminary reports Wyoming was expected to receive:
Wyoming had no statewide, official spending database online, although legislation that passed in 2009 mandates that a public finance site be operational by no later than January 1, 2010.[19][20]
The Wyoming Supreme Court held in June 2010 that Gov. Dave Freudenthal wrongly withheld draft budget documents regarding proposed budget cuts from a Cheyenne newspaper last year. The Supreme Court upheld a Laramie County district judge's earlier decision that the budget information was public.[21]
The following table was helpful in evaluating the level of transparency provided by a state spending and transparency database:
State Database | Searchability | Grants | Contracts | Line Item Expenditures | Dept/Agency Budgets | Public Employee Salary |
---|---|---|---|---|---|---|
Transparency in Government |
According to 2008 Census data, the state of Wyoming and local governments in the state employed a total of 59,238 people.[23] Of those employees, 42,781 were full-time employees receiving a net pay of $163,483,434 per month and 16,457 were part-time employees paid $14,749,885 per month.[23] More than 52% of those employees, or 30,986 employees, were in education or higher education.[23]
Wyoming government sector lobbying
Wyoming state government salary
Wyoming state budget and finances
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