@Bullshot something else to consider, and I can't speak to specifics on how NE or CO do things, but I know with our Game and Fish agency (I presume many others are the same), they have to go to the legislature for spending authority (i.e. set their biennial budget). They take not one single penny from the general fund, but they have to go to the legislature to propose their budget and gain spending authority over their own money.
That is all to say that just because they have the money to go buy 640 acres of land to create a new WMA, doesn't mean the legislature will give them the spending authority to do so in the portion of their budget designated for land acquisition. Just because they have the money to drop 25 million on a habitat initiative, doesn't mean the legislature will let them. Just because the legislature might approve that habitat initiative, doesn't mean they will also approve the FTEs needed to deliver that iniaitive on the ground. This is how some of the political games get played.
But my point is that it's a lot more complex than just revenue/expenditure, and writing checks willy nilly for whatever the sportsmen want on any given year. The agencies themselves only have a certain degree of control over how much money sits in their "bank account" and how they can use it.