November 2024 Archive
Late Autumn Revenues Fall Short of Projections
On Wednesday, November 20th, legislative and executive branch economists released the revenue update for November, detailing collections for the first four months of Fiscal Year (FY) 2025. The Revenue Summary (TC-23) published by the Tax Commission tallies funds collected by the state, while the impact of those collections is interpreted in the Revenue Snapshot co-produced […]
The Severance Reference: Mapping Oil, Gas, and Mining Taxes in the Budget
The tax generated by the sale of oil and natural gas, and the mining of various compounds is a complicated, and widely discussed piece of the state budget. Severance tax applies to the “upstream” activity within the extractive industries, where the resource is severed from the land. Any oil, gas, or mining production in the […]
At Your Service: Statewide Internal Service Funds
You may recall last August when we discussed Internal Service Funds (ISFs) as they relate to the Attorney General’s Office. Today, we take a step back and review how Internal Service Funds play a role in the state’s budget. Function and Purpose of ISFs The purpose of an ISF is for an agency to provide […]
TIF Talk: Understanding the Lingo of Transportation Funding
The Transportation Investment Fund of 2005 (or TIF for short) is one of the largest accounts in the state budget, with revenues of over $3.2 billion in FY 2025. While appropriations for transportation projects represent a significant part of the state’s budget, the funding sources for these projects can be a bit confusing. In committees, […]