December 19, 2014
By Paul K. Emerson, TAC State Financial Analyst
On Thursday, Dec. 4, the House Appropriations Committee heard testimony on four major cost drivers that will significantly affect the state budget during the 84th Legislative Session.
During the hearing, the Legislative Budget Board (LBB) presented a detailed overview of these major budget cost drivers. The figures below represent the 2014-15 appropriated amounts.
- Public Education (Foundation School Program - FSP) - $40.4 billion
- Medicaid - $56.2 billion
- Mental Health - $3.3 billion
- Employees Retirement System (ERS) and Teacher Retirement System (TRS) - $10.7 billion
These four cost drivers total $109 billion, which represents 55 percent of the current state budget. The current state budget for all funds totals $200.4 billion.
After nine years as chair of the powerful House Appropriations Committee, Rep. Jim Pitts (R-Waxahachie) is stepping down from his post and retiring. His replacement has not been named yet.
For additional information, please contact Paul Emerson, TAC State Financial Analyst, at (800) 456-5974.