States have begun to increase funding to elementary and secondary education following cuts brought upon by the national recession.
As discussed in NASBO’s Monday Washington Report, the U.S. Senate is preparing to vote on a short-term fix for the federal Highway Trust Fund (HTF). The full Senate is expected to vote on House-passed legislation that would transfer $10.8 billion into the HTF from the U.S. Treasury’s general fund, which is expected to provide sufficient funding for programs through May 31, 2015; the Senate is also expected to consider several amendments during debate.
Report delivers state-by-state comparative information on a range of capital budgeting concepts, practices, processes, and policies.
State budgets are expected to continue their trend of moderate growth in fiscal 2015 according to governors’ spending proposals. Consistent year-over-year growth has helped states achieve relative budget stability, but progress remains slow for many states. With each passing year of slow improvement, more and more states are moving beyond recession induced declines and returning to spending and revenue growth. According to executive budgets, general fund spending is projected to increase by 2.9 percent in fiscal 2015.
Below are some of the key trends and themes discussed at recent major higher education meetings held by the American Council on Education and the Association of Governing Boards among others. This issue is particularly salient as many legislatures deal with higher education budgetary issues this month and many high school seniors receive their college acceptances (or sadly, rejections…).
As of February 18th, governors in 41 states have given a State of the State address and their speeches have included a wide-range of spending and revenue proposals.
Center for Health Care Strategies, Inc.
As of February 4, the vast majority of governors have released budget proposals for the upcoming fiscal year. In addition, 17 states previously enacted two-year budgets covering both fiscal 2014 and 2015.
State and Local Finance Initiative
Grapevine: An Annual Compilation of Date on State Fiscal Support for Higher Education, Fiscal Year 2013-14
Center for the Study of Education Policy, Illinois State University