Proposed Budget - Fiscal Year 2023
On November 15, Mississippi Governor Tate Reeves introduced a fiscal 2023 executive budget recommendation that proposes $8.09 billion in state support funds, an increase of 22.4 percent over fiscal 2022. This increase is largely driven by a 530.8 percent increase in the Capital Expense Fund, a fund created for capital expense needs, repair and renovation of state-owned properties, and specific projects. General fund agency appropriations total $6.49 billion, a decrease of 1.7 percent from fiscal 2022. General fund revenue estimates for fiscal 2023 total $6.49 billion, a 9.6 percent increase over the prior year amount of $5.93 billion. The required 2.0 percent general fund revenue set aside removes $129.9 million from available general fund revenues, for a net of $6.36 billion. The executive budget recommendation includes proposals for spending the state’s allocation of American Rescue Plan Act (ARPA) funds.