Texas Annual Cash Report: 2018 Page: LETTER OF TRANSMITTAL

                                
Texas Comptroller of Public Accounts

November 5, 2018
The Honorable Greg Abbott
Governor
State of Texas
Capitol Building, Room 2S.1
Austin, Texas 78701
Dear Governor Abbott:
We are pleased to announce the publication of the State of Texas Annual Cash Report for the fiscal year
ended August 31, 2018. This report presents the state's financial condition and details revenues and
expenditures on a cash basis as required by Texas Government Code Section 403.013.
The Consolidated General Revenue Fund ended the year with a cash balance in the state treasury of
$4.5 billion, an increase of $963.5 million, or 27.5 percent, from fiscal 2017. The change in the balance is
largely due to an increase in tax collections.
Balances in Special Revenue Funds increased from $19.7 billion in fiscal 2017 to $21.4 billion in fiscal
2018. The Economic Stabilization Fund (ESF) ended fiscal 2018 with a total balance of $11.0 billion, an
increase of $746.1 million over fiscal 2017. The ESF ending balance was comprised of cash in the amount
of $8.7 billion and investments having a fair market value of $2.3 billion.
Net revenues for all funds excluding trust funds increased by $9.0 billion, or 8.1 percent, from fiscal 2017,
to a total of $120.2 billion in fiscal 2018. Tax collections totaling $55.6 billion accounted for the largest
revenue category, up $6.0 billion, or 12.0 percent, from fiscal 2017. Federal income, the second largest
revenue category, totaled $39.6 billion, an increase of $1.3 billion, or 3.3 percent, from fiscal 2017.
Total net expenditures for all funds excluding trust funds increased by $3.9 billion, or 3.5 percent, from
fiscal 2017, to a total of $116.6 billion in fiscal 2018. The largest dollar spending increase by governmental
function was in Health and Human Services, which increased by $1.3 billion to a total of $50.4 billion.
We hope this information is helpful. Please let us know if we can be of further assistance.
Sincerely,
Glenn Hegar
Comptroller.Texas.Gov  512-463-4444
P.O. Box 13528    Toll Free: 1-800-531-5441 ext: 3-4444
Austin, Texas 78711-3528  Fax: 512-463-4902