Dec

14

Tuesday is a big day for state’s budget

Filed Under Uncategorized 

What happens on Tuesday will go a long way towards determining if state lawmakers will be called into session early and what will happen to the budgets of state agencies this year and next.

First up, State Treasurer Scott Meacham will release the revenue collection report for November.  So far, the state has collected about 20% less money than expected.  That has resulted in all state agencies taking a 5% cut in allocations and the state using cash reserves - which have to be paid back by the end of June - to make up the difference.

After that report is released (it’s usually around 2 pm), the House Appropriations and Budget Committee will have a meeting at 3 pm.  It will include an update on the state’s finances and reports from all of the subcommittees which have been holding hearings this month.  OFRG will be tweeting live from that hearing and you can follow along at www.ofrg.com/OFRGnews.

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