Friday, January 23, 2009
Here's a pie chart now being served at Kentucky's new financial transparency site, and here are are a few things I notice.
First, this pie is the full $24 billion the state appropriates, rather than the $9-and-a-half billion we call the General Fund. The Road Fund is well over $1 billion. Federal funds are close to $8 billion, and restricted funds more than $5 billion. The tobacco settlement contributes about $140 million.
Second, if you look at the two education slices, you'll probably want to look at both again. Is postsecondary really bigger than P-12 education? Well, yes and no.
The complete budget is not just state tax dollars: it includes fees people pay to the state, including students' tuition at public universities and at KCTCS. That's in the restricted funds I mentioned earlier.
And then, the budget is just dollars in state accounts, so it does not include local tax revenue that supports P-12 education. The local ingredients add about $1.5 billion to school funding. If we could add that into the pie, it would change all the other slices a bit.
It's sweet to see important numbers displayed clearly, and I look forward to seeing else is cooking with the state's new effort to share financial information.