PHOENIX — State lawmakers could save more than $1 billion this fiscal year if they would just cut funding for universities, kick some children out of the Kids Care health insurance program, cut aid to public schools and take money earmarked for road construction and instead use it to pay the salaries of Department of Public Safety officers.

 These options and more were unveiled late Friday by the staff of the Joint Legislative Budget Committee. They come in response to financial projections that the current state budget is running at least $600 million in the red, if not more, as tax collections have lagged far behind the projections made when lawmakers adopted the $10.6 billion spending plan earlier this year.

 Legislative leaders sought the list to find ways to meet their constitutional mandate to bring the budget into balance by the end of the fiscal year June 30.

 And JLBC staff director Richard Stavneak said that may be just the beginning: He told lawmakers that revenues for the following fiscal year already are predicted to be up to $750 million less than anticipated expenses.

 But much of what is on that 256-page list may be dead even as the ink was drying: Even Senate President Tim Bee said “many, if not most, are not politically realistic.’’ Instead, he said the list solely represents a list of what is legally possible — meaning the funding is not constitutionally protected or the cash is not already legally encumbered.

 “They’re certainly not recommendations coming from anyone in my (Senate Republican) caucus or the Democratic caucus,’’ Bee

 continued. “It’s staff that assembled this for us to look at.’’

 For example, he said one likely political non-starter is a proposal to reduce eligibility for Kids Care. This program provides virtually free health care for children whose parents earn more than the federal poverty level — the point below which the whole family qualifies for free care — and double that amount. That latter figure now is $41,300 for a family of four.

 Stavneak said cutting eligibility to 175 percent of the federal poverty level — $36,137 for a family of four — would reduce current enrollment of 62,088 youngsters by 18,626.

 The plan also suggests eliminating $30 million lawmakers provided to the state’s three universities to help them retain students.

 That’s on top another $56 million Stavneak said could be taken from other university programs.

 Another proposal suggests taking back $23 million extra lawmakers gave for K-12 public education above what they are statutorily required to provide.

 Legislative Democrats have signaled that any funding cuts for education are unacceptable. And while they are in the minority, they have the ultimate backstop: Gov. Janet Napolitano has declared such cuts off the table.

 The list of options does include something Napolitano and most Democrats would find acceptable: Borrow money for school construction rather than pay more than $300 million in cash. But GOP leaders have said borrowing — and having to repay over time with interest — is unacceptable.

 Senate Majority Leader Thayer Verschoor said the 258-page report does serve a purpose, even if legislators conclude they are unwilling to touch many of the items.

 “It’s the start of a process,’’ he said, letting lawmakers know what are the options.

 The governor figures she can find $600 million through $100 million in cuts and deferred expenses — none of which she has publicly identified yet — $200 million from the rainy day fund and $300 million in borrowing. House Republicans responded with their own plan to make up any deficit one half with tax cuts and one half out of the rainy day fund.

 Stavneak’s report said there are other options.

 For example, he said lawmakers could borrow — or take — cash from other special funds. For example, there is more than $23 million in an account for improvement of lakes at state parks.

 Overall, he figures there is more than $255 million in these funds.