AUGUSTA (AP) – A supplemental budget bill that legislative leaders hope to see enacted this week would leave a balance of merely $730,000 after directing more than $41 million to local school aid and $29 million to special reserve funds.

The pending package of savings, spending adjustments and transfers, bearing the bipartisan imprint of a unanimous Appropriations Committee, relies on about $150 million in previously unanticipated revenue.

According to an analysis by the Legislature’s Office of Fiscal and Program Review, the supplemental measure would produce net increases in General Fund appropriations of $51.6 million for fiscal 2006 and $45.2 million for fiscal 2007.

Another way of looking at its scope is to match spending proposals of $219.1 million with savings proposals of $106.7 million, the staff report said.

As a practical matter, enactment of the budget bill would force many lawmakers who have shepherded other bills worth hundreds of millions of dollars toward enactment since January 2005 to drastically scale back or give up on their pet projects.

Additional money for local schools – $41.3 million – increases the state appropriations for fiscal 2007 to $914.1 million – up 9.3 percent over fiscal 2006, according to legislative analysts.

The package would bring reserve fund balances up to $100.5 million.

Gov. John Baldacci had proposed $25 million in borrowing to bolster funding for highway projects. Republican resisted, and Democrats agreed to scrap the bonding plan and replace it with $15 million in cash for road and bridge work.

The package would boost appropriations for the University of Maine System by nearly $3.3 million in fiscal 2007. The Maine Community College System would receive an appropriations bump of $300,000 in fiscal 2006 and $1.2 million in fiscal 2007.

The package was designed to have Maine conform with the federal deduction of student loan interest, restore a Maine child care credit to 25 percent of the federal credit and conform Maine law with federal law on contributions to qualified health savings accounts.

Overall, according to legislative analysts, the package would cut Maine taxes and fees by $1.4 million over the 2006-2007 biennium.

The staff analysis also said enactment of the budget bill would increase the General Fund structural gap for 2008-09 by about $67 million, putting the projected difference between available resources and spending demands in a range of $475 million to $525 million.