The Budget Fund classification in the Operating Budget consists of the General Fund, the Road Fund, federal funds accounts and restricted funds accounts.
The General Fund - consists of state tax revenue collected under
general tax laws and other designated receipts available for the
activities, operations and services of state government.
The Road Fund - consists of money from excise or license taxation
relating to gasoline or other motor fuel products, and moneys derived
from fees, excise or license taxes relating to registration, operation
or use of vehicles on public highways. The Constitution dedicates these
revenues for highways and bridges, vehicle regulation and related state
Federal Funds - moneys received by state agencies in the form of
grants, contracts or other assistance from the federal government for
Restricted Funds - moneys collected by state agencies which are
restricted by statute or budget bill for expenditure toward general or
specific use by an agency. Restricted sources include regulatory or
occupational licenses and fees, tuition, service charges, sales of goods
or products, donations or grants from non-state sources and expendable
receipts and earnings of trust type programs.
These fund sources, and proceeds from highway bond issues when authorized by the General Assembly, comprise the total operating budget of the Commonwealth.
The Capital Budget lists line-item capital projects and associated appropriations by budget fund source. Road construction projects are excluded.
Capital Budget projects are defined as acquisition or construction of a
building, structure, property or utility estimated to cost $400,000 or
more, acquisition of a major item of equipment or systems estimated to
cost $100,000 or more, leased space costing more than $200,000,
information technology systems costing $400,000 or more, and state use
allowance payments of $200,000 or more for local court facilities.
State budget law requires any project meeting these definitions to be
authorized by line-item in a budget bill or other enabling act before
public funds may be spent.
Any bond project which is supported by state-appropriated debt service
must be authorized by the General Assembly before bonds may be issued.
The annual debt service and related fund source must be specified in the
In addition to the standard funds for the Operating Budget, other
capital funds include moneys earned by assets, allocated receipts, and
other project resources provided by off-budget entities and local