2017 Financial Condition Report

For Fiscal Year Ended March 31, 2017

Total Spending

2017 Financial Condition Report
For Fiscal Year Ended March 31, 2017

Spending generally reflects the State’s program priorities. Comparing spending to revenue provides an indication of the State’s ability to support continuing programs. State spending, which includes spending from federal funds, is recorded on a cash basis.

See Appendices 1 and 2 for a breakdown of State spending by major service function and funding source for the past five years.

Growth in State Spending Has Exceeded the Rate of Inflation Over the Past Five Years

  • Compared to the prior year, State spending increased $6.3 billion (4.2 percent) to $157 billion in 2017.
  • Since 2013, the growth in State spending (18 percent) has exceeded the rate of inflation (Consumer Price Index increase of 4.8 percent).
  • State spending has been partially paid for by borrowing $16.2 billion since 2013, including $3.7 billion in 2017.
  • In 2017, State spending was $7,952 per person.
  • Spending on public health and education represents 70 percent of total State spending.
Actual State Spending Versus Spending at the Rate of Inflation
2017 Total State Spending Per Person by Program Area