fiscal conditions

fiscal conditions

Fiscal Survey of States, Fall 2013

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State fiscal conditions are modestly improving in fiscal 2014 with spending and revenues projected to rise above fiscal 2013 levels. Signs of fiscal distress continue to subside, and most states expect revenue and spending growth in fiscal 2014. Tax collections outperformed projections in fiscal 2013, and revenues experienced steady gains in most states. Although revenues are expected to increase in fiscal 2014, states are not projecting a rise in tax collections comparable to the gains in fiscal 2013.

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State Expenditure Report: A Closer Look at State Spending Trends

November 26, 2013

Last week, NASBO released the latest version of its State Expenditure Report, examining fiscal 2011-2013 state spending and revenue trends. The report found that for the first time in the 26-year history of the publication, total state spending declined in fiscal 2012 as spending from state funds slowly increased, while spending from federal funds rapidly declined as most Recovery Act spending ended. In fiscal 2013 it is estimated that total spending grew moderately as both state and federal expenditures returned to more typical growth levels. Other findings include:

State Expenditure Report (Fiscal 2011-2013 Data)

The latest edition of NASBO’s State Expenditure Report finds that for the first time in the history of the State Expenditure Report total state spending declined in fiscal 2012, due to the combination of state funds slowly increasing and federal funds rapidly declining. It is estimated that expenditures returned to more typical growth levels in fiscal 2013 as both state and federal funds moderately increased.