Alabama Ordinance Adopting the Budget
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FAQ
Ad Valorem Taxes are collected by the tax collectors in the various counties of the State, remitted to the State Treasury, and distributed to the Public School Fund, the Public Welfare Trust Fund, Alabama Veterans' Assistance Fund and the State General Fund.
In the fiscal year of 2021, the state of Alabama had state debt totaling 9.85 billion U.S. dollars.
New York begins its fiscal year on April 1, Texas begins its fiscal year on Sept. 1, and Alabama and Michigan begin theirs on Oct. 1. As of September 25, 50 states have enacted their FY 2024 budgets.
Alabama's largest spending areas per capita were health and hospitals ($1,813) and elementary and secondary education ($1,758). The Census Bureau includes most Medicaid spending in public welfare but also allocates some of it to public hospitals.
The governor is responsible for the preparation and administration of the state budget and the evaluation of the long range program plans, requested budgets and alternatives to state agency/department policies and programs and formulation and recommendation for consideration by the legislature of a proposed ...
In Alabama in fiscal year 2015, 51.5 percent of total tax revenues came from sales taxes and gross receipts. Income taxes accounted for 39.0 percent of total state tax collections. Education accounted for 41.6 percent of state expenditures in fiscal year 2015, while 24.1 percent went to Medicaid.
Taxes from over 40 sources are deposited into the GF, with the largest sources being the insurance company premium tax, interest on the Alabama Trust Fund, use tax, simplified sellers use tax, cigarette tax, ad valorem tax, and the Alabama Alcoholic Beverage Control Board profits.
