Fiscal Year Ending June 30, 2006

Total receipts: $24,435,585,208

Money processed by the state comes from four basic sources:

Taxes and Interest Income: State taxes include taxes such as the sales tax, corporate and personal income taxes, oil and natural gas gross production taxes, etc. Interest income is earned while funds are held by the State Treasurer. This is the primary category from which the Legislature appropriates funds to state agencies.

Licenses, Permits, Tuition, Fees and Other: Also called Revolving Funds, these revenues come from fees charged by state agencies for the regulation of professions, occupations or activities that affect the safety or well being of the public. Drivers' license fees are an example. State government licenses and regulates medical doctors, nurses, social workers, psychologists, counselors, mortgage brokers, real estate agents, plumbers, electricians, health care workers and others. Revenue is also deposited into Revolving Funds from the sale of goods such as furniture manufactured by state inmates and sold to state and local governments. Tuition and fees collected by colleges and universities are also included here.

Federal Grants: Funds from federal agencies such as the U.S. Department of Health and Human Services, U.S. Department of Transportation, U.S. Department of Education and U.S. Department of Agriculture are administered by state agencies. Examples of programs which are federally funded but state administered include Food Stamps and WIC, the Women, Infants and Children nutritional supplement program. Medicaid, the federal/state partnership program which provides funding for healthcare for children, pregnant women and persons with disabilities is funded with approximately 68% federal funds and 32% state funds.

Assets Held for Others: Also called fiduciary functions, these are funds which are processed on behalf of others. They consist of local sales tax revenues collected by the state and disbursed back to cities and towns as well as funds for state employee retirement systems and employee benefit systems. Funds held in trust for individuals who are wards of the state are also included in this category.