Mississippi Today
A look at where state’s record surplus originated and how it can be spent
A look at where state’s record surplus originated and how it can be spent
The Mississippi Legislature will begin the 2023 session on Jan. 3 with a mind-boggling $3.9-billion surplus, according to information compiled by the staff of the Legislative Budget Committee.
To put the surplus in perspective, it is little more than half as large as the overall state-support budget of $7.9 billion for the current fiscal year. State support refers to the funds derived primarily from general taxation, such as the sales tax on retail items and the income tax. The state also has other special fund agencies, which receive taxes or fees designated solely to run their agency, such as the fee barbers pay for their regulatory board or the motor fuel tax to operate the Transportation Department.
The state has an overall budget, including all state and federal funds appropriated by the Legislature, of $26 billion for the current fiscal year with 45% of the total funds being provided by the federal government.
By any metric, the surplus the state has is unprecedented.
These funds fall into different categories with different guidelines of how they can be appropriated by the 2023 Legislature. But it should be stressed that in most cases the Legislature can vote to change those guidelines and it is almost a certainty the Legislature will not appropriate all the surplus funds this session.
Here are the categories of the surplus and, in general, how they can be spent:
Capital expense fund: $1.6 billion. This is the accumulation of unspent revenue from past sessions. These funds are not considered recurring, meaning the Legislature will strive to spend them on non-recurring expenses, such as construction projects or major purchases, such as computer systems. Providing rebates to taxpayers as some have proposed also would be a one-time expense.
General fund: $1 billion. These are tax collections and other revenues collected above the amount projected at this time to be appropriated by the Legislature for the next fiscal year beginning July 1. These funds are considered recurring and can be used for any purpose.
Working Cash Stabilization Fund or rainy day funds: $579.4 million. These are funds that have been placed in reserves for emergencies, such as a downturn in state revenue collections. The rainy day fund currently is at its legal cap of 10% of the total general fund budget.
Coronavirus State Fiscal Recovery Fund: $298.1 million. These are federal funds provided to deal with COVID-19 related issues. The federal government places guidelines on how the funds can be appropriated. A portion can be used for recurring expenses, but for the most part must be spent on one-time items, such as water and sewer repair and construction, broadband and for pandemic relief.
The 2% set aside: $150.4 million. By law, the Legislature is only supposed to appropriate 98% of the projected state tax collections. The 2% rule is in place because projecting tax collections is an inexact science. In recent years revenue has significantly exceeded projections, resulting in the large reserves in the capital expense fund. In bad economic times, legislators have changed the law to spend the 2% set aside, but that will not be necessary this session.
Gulf Coast Restoration Fund: $124.2 million. Money from the settlement of lawsuits related to the 2010 BP oil rig explosion in the Gulf of Mexico. These funds are earmarked for Gulf Coast projects.
Education Enhancement Fund: $78.9 million. The state collects a 1% sales tax on retail items designated solely for education projections. Like with the overall tax collections, revenue, from the 1-cent sale tax has exceeded expectations resulting in the surplus in the Education Enhancement Fund
Health Care Expendable Fund: $43.1 million. The state receives a payment annually from the tobacco companies as a result of the 1990s-era lawsuit filed by former Attorney General Mike Moore against the cigarette-manufacturers. Money in the fund is normally designated for health-related issues.
BP Settlement Fund: $12.3 million. Money from the BP oil spill settlements reserved for one-time projects in areas outside the Gulf Coast counties.
This article first appeared on Mississippi Today and is republished here under a Creative Commons license.
Did you miss our previous article…
https://www.biloxinewsevents.com/?p=202553
Mississippi Today
UMMC holds free cancer screenings
The University of Mississippi Medical Center’s Department of Otolaryngology-Head and Neck Surgery hosted a free oral, head, and neck cancer screening Wednesday at the Jackson Medical Mall as part of Oral, Head and Neck Cancer Awareness Week.
The event featured quick, noninvasive screenings aimed at catching cancer early — when treatment is most effective. Onyx Care provided free HPV vaccinations, while the ACT Center for Tobacco Treatment, Education, and Research offered resources on smoking cessation and free services.
“These screenings take about 10 minutes and can save lives,” said Dr. Gina Jefferson, head and neck surgical oncologist at UMMC. “The earlier a cancer is diagnosed, the better chance we have of curing it.”
Tobacco and alcohol use remain major risk factors for these cancers. However, physicians say an increasing number of cases are linked to HPV, especially among younger adults with no history of smoking or drinking. Dentists are often the first to spot early signs, which can include persistent sores, lumps in the neck, or difficulty swallowing.
Oral, head and neck cancers are among the most common globally. When found early, survival rates can exceed 80 percent.
This article first appeared on Mississippi Today and is republished here under a Creative Commons Attribution-NoDerivatives 4.0 International License.
The post UMMC holds free cancer screenings appeared first on mississippitoday.org
Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.
Political Bias Rating: Centrist
This article presents factual information about a free cancer screening event without showing a clear ideological stance. It primarily focuses on the health benefits of early cancer detection and the availability of free resources, such as HPV vaccinations and smoking cessation support. The language used is neutral and the content is centered around public health education rather than promoting a political viewpoint. The inclusion of factual statistics, such as survival rates and risk factors, adds to its informative and objective tone. There are no signs of bias or advocacy for a particular political agenda, making this a centrist piece.
Crooked Letter Sports Podcast
Podcast: What next for Mississippi State baseball?
Mississippi State didn’t even wait until the end of the season to fire Chris Lemonis, who brought the national championship to Starkville not quite four years ago. Where do the Bulldogs go from here. Robbie Faulk who covers the Bulldogs more closely than anyone else joins the podcast to discuss the situation.
Stream all episodes here.
This article first appeared on Mississippi Today and is republished here under a Creative Commons Attribution-NoDerivatives 4.0 International License.
The post Podcast: What next for Mississippi State baseball? appeared first on mississippitoday.org
Mississippi Today
Mobile sports betting users: We want to hear from you
Mississippi Today is looking to speak with current and former mobile sports betting users. We’d like to speak with people who spend considerable amounts of time and money betting on sports through online gambling sites.
We’re interested in hearing the experience of people who have suffered from gambling addiction or problems, or friends and family members of people who have. We also would like to talk with people who believe legalizing mobile sports betting would benefit Mississippi and its residents.
We want to hear from you. Please take the survey below or contact Political Reporter Michael Goldberg by email at mgoldberg@mississippitoday.org
TAKE THE SURVEY:
Loading…
This article first appeared on Mississippi Today and is republished here under a Creative Commons Attribution-NoDerivatives 4.0 International License.
The post Mobile sports betting users: We want to hear from you appeared first on mississippitoday.org
Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.
Political Bias Rating: Centrist
This article from Mississippi Today appears to present a neutral stance, focusing on gathering input from various groups of mobile sports betting users, including those who may have experienced addiction issues. The content does not advocate for or against the legalization of mobile sports betting but instead seeks to gather diverse perspectives, including those of individuals who may support or oppose it. The language used is objective and does not suggest a particular ideological perspective, allowing for a balanced exploration of the issue at hand.
-
Mississippi Today2 days ago
Trump appoints former Gov. Phil Bryant to FEMA Review Council as state awaits ruling on tornadoes
-
News from the South - Missouri News Feed5 days ago
Missouri lawmakers on the cusp of legalizing housing discrimination
-
Mississippi Today4 days ago
Derrick Simmons: Monday’s Confederate Memorial Day recognition is awful for Mississippians
-
Mississippi News6 days ago
Events happening this weekend in Mississippi: April 25-27
-
Mississippi Today7 days ago
Struggling water, sewer systems impose ‘astronomic’ rate hikes
-
News from the South - West Virginia News Feed7 days ago
Is West Virginia — and the rest of the country — prepared to care for our seniors?
-
Mississippi Today7 days ago
Tyler Perry comedy about a Mississippi lieutenant governor ‘She The People’ set to stream on Netflix
-
News from the South - Florida News Feed6 days ago
Florida woman accused of setting fires during burn ban