Department of Medical Assistance Services (602)
| Request Title | Adjust appropriation for the Health Care Fund |
| Biennium | 2014-2016 |
| Budget Round | Amended Bill |
| Category | Unanticipated and unavoidable cost adjustments |
| Region | None |
Description
|
Modifies the appropriation for the Health Care Fund to reflect the latest revenue estimates. Tobacco taxes are projected to decline by $7.6 million in FY 2015 and $9.8 million in FY 2016 based on the Department of Taxation's revised forecast. The other change is a downward adjustment in revenue from pharmacy rebates of $15.3 million each fiscal year as the retroactive collection of managed care rebates stabilizes. The FY 2015 revenue loss is offset by the June 30, 2014, cash balance of $74.2 million. Since the fund is used as state match for Medicaid, any change in revenue to the fund impacts general fund support for Medicaid. |
Funding Summary
| Object Type | FY 2014 | FY 2015 | |
| General Fund Dollars | ($51,376,931) | $24,877,282 | |
| Nongeneral Fund Dollars | $51,376,931 | ($24,877,282) | |
| General Fund Positions | 0.00 | 0.00 | |
| Nongeneral Positions | 0.00 | 0.00 | |
| General Fund Transfers | $0 | $0 | |
| General Fund Revenue | $0 | $0 | |
| Layoffs | $0 | $0 | |
| Additions to Balance | $0 | $0 |
Funding Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
| 456 | Medicaid Program Services | $0 | $0 | |
| By Fund | Fund Code | Fund Title | FY 2014 | FY 2015 |
| 0100 | General Fund | ($51,376,931) | $24,877,282 | |
| 0949 | Virginia Health Care Fund | $51,376,931 | ($24,877,282) |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 01-24-2026 22:25:07
