realjohnboy wrote:ican711nm wrote:
A gross operating surplus, if one occurs, is that extra revenue not originally predicted in the state's budget. A gross operating deficit, if one occurs, is the amount actual revenues falls short of the revenue predicted in the state's budget.
An intersting definition of what constitutes a "surplus." No mention of expenditures?
Fantastic! Now you've got it!
State budgets specify expenditures and predict revenues. Those revenues that exceed predicted amounts are called Gross Operating Surplus.
When it is desired or required to increase expenditures to achieve some objective, that increase must first be approved by the state's legislature. Such approval will of course reduce the potential Gross Operating Surplus, if any.
All 50 states plus the District of Columbia enjoyed Gross Operating Surpluses of various amounts.