The forecast will guide legislators during the 2014 session.
(Published Feb 7, 2014)
The semi-annual state budget forecast will be released by the Department of Management and Budget Friday, Feb. 28. The forecast will become the benchmark projection of state revenues and expenditures that will guide legislators during the 2014 session, which begins only days earlier on Feb. 25.
The last state forecast, released in early December provided lawmakers with some good news. Under that forecast, state revenues were higher and expenditures were lower than previously projected, allowing the state to complete the repayment of the remaining $246 million in delayed school payments and $15 million in funds redirected from the state airport fund. After those repayments, the state was expected to still have an $825 million positive general fund balance.
The League will be hosting a webinar that will highlight the state budget forecast and other likely issues that will be considered in the 2014 legislative session. The webinar is currently scheduled for March 7 at 11 a.m.
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