Department of Accounts Transfer Payments (162)
| Request Title | Strike Proposed Set Aside for Estimated FY 2024 RDF Deposit (2020 Special Session General Assembly Action - 274 #1c) |
| Biennium | 2020-2022 |
| Budget Round | Amended Bill |
| Category | General Assembly Action |
| Region | None |
Description
|
This amendment eliminates $89.0 million from the general fund included in the introduced budget in fiscal year 2022 for the estimated required fiscal year 2024 deposit into the Rainy Day Fund. The deposit, which will be calculated based on fiscal year 2022 actual revenues, is not made until fiscal year 2024. The $89.0 million funding is being redirected to a companion amendment which deposits $89.0 million into the Revenue Reserve Fund in fiscal year 2021 to increase the Commonwealth's cash balances and ensure greater financial flexibility. Language included in Item 275 allows for the transfer of amounts from the Revenue Reserve Fund to the RDF if required to meet any Constitutionally-mandated deposit. |
Funding Summary
| Object Type | FY 2020 | FY 2021 | |
| General Fund Dollars | $0 | ($89,027,631) | |
| Nongeneral Fund Dollars | $0 | $0 | |
| 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 2020 | FY 2021 |
| 735 | Revenue Stabilization Fund | $0 | ($89,027,631) | |
| By Fund | Fund Code | Fund Title | FY 2020 | FY 2021 |
| 01000 | General Fund | $0 | ($89,027,631) |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2020 | FY 2021 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-07-2025 20:00:10
