PPT Slide

• Prior to 1993, the undesignated General Fund Balance at the end of a fiscal year could be spent on recurring expenditures in the ensuing fiscal year.

• The large surpluses that occurred during the oil boom, as well as the rather large surpluses of FY’s 89 and 90, were pretty much spent on recurring items in the budget.

• In 1993, the legislature limited the use of surplus funds to retiring debt and other non-recurring expenditures. In 1998, 25% was designated to the Rainy Day Fund and capital outlay was added as an authorized use.

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