fiscal conditions

fiscal conditions

Fiscal Survey of States, Fall 2014

report cover

This report shows that state fiscal conditions are moderately improving in fiscal 2015 as the economic recovery enters its sixth year. Consistent annual growth in the economy, while not as robust as many would like, is leading most states back to budget growth. States have replenished some spending for areas cut back during the recession, such as K-12 education and higher education. In addition to bolstering state spending, economic growth has produced higher revenue collections.

Federal Funds Vital for States’ Transportation and Capital Projects

July 29, 2014

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.

Fiscal Survey of States, Spring 2014

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.

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Higher Education Facing Change

April 2, 2014

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).