Federal Funds Information for States
After several years of slow recovery in the national economy, fiscal distress is finally beginning to subside for most states. However, the unemployment rate continues to remain high and the economic recovery is relatively weak compared to other post-recessionary periods. Thus, state operating budgets likely will be constrained by elevated expenditure pressures and slow revenue growth in the upcoming fiscal year.
New video series discusses state budget concepts.
Surpluses don’t mean the states’ fiscal challenges are over
Budget officers from 29 states gathered to discuss state fiscal issues.
Yesterday afternoon, Senate Majority Leader Harry Reid (D-NV) floated a legislative proposal to replace sequester cuts for the current fiscal year. In remarks delivered on the Senate floor, Sen. Reid indicated that Congress could reverse at least some fiscal 2013 funding cuts under sequestration by using savings achieved from wrapping up military operations in Iraq and Afghanistan.
Performance budgeting continues to be a big challenge for many states. Implementing an effective method of using information about the performance of state programs to influence how state tax dollars are spent has not proven easy. There seems to be some positive movement to new thinking on performance budgeting – especially based on learning from past performance budgeting projects.
National League of Cities
Brian Sigritz discusses trends in spending and revenue growth and what impact these, and sequestration, have on healthcare, transportation and education.
The National Association of State Budget Officers