Fiscal Year 2006 First Quarter Financial Review

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FISCAL YEAR 2006 FIRST QUARTER FINANCIAL REVIEW
FY 05 FY 06 Change % Change
OPERATIONS
General Funds Revenues $ 5,518 $ 5,951 $ 434 7.9%
Operating Transfers In** 1,041 442 (599) (57.5)
Total Operating Receipts 6,558 6,393 (165) (2.5)
General Funds Expenditures 5,032 5,893 861 17.1
Operating Transfers Out 1,416 673 (743) (52.5)
Total Operating Disbursements 6,448 6,566 118 1.8
Change in Cash Increase (Decrease) $ 1 10 $ ( 173) $ (283)
Table I
OPERATING HIGHLIGHTS*
First Quarter
FY2005 vs. FY2006
(in millions)
*Refer to Appendices I and II for details.
**Excludes $276 million transfer from Budget Stabilization Fund in first quarter of FY06.
OPERATING HIGHLIGHTS
As illustrated in Table I and detailed in Appendix I, Revenues and Operating Transfers In for the first quarter of
fiscal year 2006 were $6,393 million, a $165 million (2.5%) decrease from the comparable collections of fiscal
year 2005. State and Federal Revenues (excluding Transfers In) totaled $5,951 million, which was $434
million, or 7.9% above the FY05 level. Operating Transfers In decreased by $599 million (57.5%) from the
comparable period of fiscal year 2005. As further detailed in Appendix II, total cash disbursements
(Expenditures and Transfers Out) were $6,566 million, an increase of $118 million or 1.8% over the previous
year.
One-time events, as well as timing differences in revenues and spending (as described below), impact the
operating results of a quarter, particularly for fiscal 2005 such that any one quarter results are generally offset
by corresponding timing issues in subsequent periods.
STATE OF ILLINOIS
GOVERNOR’S OFFICE OF
MANAGEMENT AND BUDGET
ROD BLAGOJEVICH
GOVERNOR