Budget Cycle

Governor Submits Budget
February (30 days after legislature convenes)
Fiscal Year Begins
July 1 

Governor Signs Budget 
45 days after legislature adjourns

Budget Links 

FY2024 (enacted)
FY2024 (proposed)
FY2023 (enacted)
FY2022 (enacted)
FY2021 (enacted)
FY2020 (enacted)
FY2019 (enacted)

Enacted Budget – Fiscal Year 2024

On June 30, Missouri Governor Michael Parson completed signing the 20 bills that comprise the state’s fiscal 2024 budget. The budget calls for $52.9 billion in total spending after recommended vetoes, a 32.5 percent increase. The increase in total spending is largely due to higher spending from federal funds; federal funds are estimated to grow $9.8 billion in fiscal 2024, or 63.9 percent. General revenue spending is projected to be $15.7 billion after vetoes, $3.4 billion, or 24.4 percent, more than fiscal 2023. Other funds are estimated at $12.7 billion in fiscal 2024, a $335 million, or 2.6 percent, increase from fiscal 2023. When signing the budget, the governor issued 201 line-item vetoes, totaling $555.3 million. Net general fund revenue collections are projected at $13.2 billion in fiscal 2024, a 0.7 percent increase from estimated fiscal 2023. The enacted budget is focused on historic investments in the future of Missouri, including infrastructure, workforce, education systems, early childhood programs, and public safety resources. Highlights of the budget include: $2.8 billion to expand and rebuild I-70 across the state; $3.6 billion to fully fund the K-12 Foundation Formula; $248 million for broadband deployment; $288.7 million for capital improvements at higher education institutions; increased funding for a series of workforce development initiatives; $78 million to increase rates for child care providers; $50 million for a second round of school safety grants; $20 million for grant funding for first responders; and $300 million for a new mental health hospital in Kansas City.

Proposed Budget - Fiscal Year 2024

On January 18, Missouri Governor Michael Parson released his fiscal 2024 budget proposal that calls for $50.53 billion in total spending, a 5.2 percent increase from fiscal 2023. The budget recommends $14.06 billion in spending from general revenues, an 11.6 percent increase from fiscal 2023. Fiscal 2024 revenues are forecasted to grow 0.7 percent compared to the revenue estimate for fiscal 2023. The ending balance for fiscal 2024 is projected at $3.85 billion. The total budget is comprised of federal funds (48 percent), general revenue (28 percent), and other funds (24 percent). The budget calls for spending $2.76 billion in American Rescue Plan Act (ARPA) federal funds in fiscal 2024.

Proposed Budget Highlights 

The governor said that through key investments included in the budget, the state can create opportunities for Missourians through education and workforce development, strengthening infrastructure, keeping communities safe, and improving the health and well-being of families. The governor added that the intention is to not only provide opportunities for Missourians today but guarantee it for future generations. Highlights of the budget includes:



  • $895M - expanding the capacity of I-70 across the suburban areas of Kansas City, St. Louis, and Columbia
  • $379M – increasing the Statewide Transportation Improvement Program (STIP) investment and funding transportation construction projects
  • $274.7M – investing in broadband planning, deployment, mapping, education, and adoption focusing on unserved and underserved areas
  • $35M – partnering with local communities and railroads to improve safety
  • Other priorities include airport infrastructure, energy grid resilience, and Missouri River navigation


  • $250M – creating a rainy day fund for public and charter school education
  • $233.4M – fully funding school districts’ transportation costs for students
  • $117.5M – funding the state’s elementary and secondary education funding formula
  • $78.5M – increasing subsidy rates for childcare providers
  • $70.8M – increasing core funding for four-year institutions, community colleges, and technical colleges
  • Other highlights include expanding access to pre-kindergarten programs, school safety improvements, and career ladder support

Workforce Development

  • $272.4M – investing in capital improvement projects at public higher education institutions
  • $38.3M – funding the fourth year of MoExcels projects to facilitate the development of employer-driven workforce education and training programs in high-demand fields
  • $25M – investment to increase competitiveness for semiconductor manufacturing opportunities
  • $3M – funding to sustain the Office of Workforce Development’s apprenticeship programs

Government Reform

  • $273.6M – providing a pay increase for state employees, including an 8.7 percent cost of living increase
  • $234.2M – increasing funding to better maintain and repair state facilities
  • $26.3M – constructing a new consolidated state warehouse complex
  • $22M – Children’s Division reconstruction and reform including hiring more team members
  • Other priorities include improving veterans cemeteries; technology investments; and constructing a new probation and parole center

Mental Health and Health Care

  • $88M – treatment and support for Missourians with behavioral health and developmental disabilities
  • $42.8M – children’s residential treatment provider rate increase
  • $16.8M – ensuring program integrity in MO HealthNet
  • $15M – creating hubs at six rural hospitals to address social determinants of health
  • $4.4M – implementing a new maternal mortality prevention plan
  • Other focuses include addressing staffing shortage; local public health authorities accreditation; and funding for additional youth behavioral health liaisons

Public Safety

  • $14.5M – funding for MoDOT’s high priority safety-related equipment
  • $11.2M – Highway Patrol technology upgrades
  • $5.9M – enhancing support for corrections professionals by providing trauma care and staff wellbeing initiatives
  • $3.7M – addressing bed shortages in hospitals and jails by providing funding for treatment services and case management
  • Other priorities include continuing the 988 crisis hotline; child exploitation cyber-crime prevention; school safety tipline; and a crime victim advocate certification program