Tthe State Budget Agency released their Revenue forecast Wednesday, April 12. See the following documents for details:
INARF_2805_Economic Outlook - April 12, 2017.pdf
INARF_2806_Presentation to the State Budget Committee - April 12, 2017.pdf
The timing of this forecast is especially important due to the legislative process that is taking place to pass a new two year State budget.
These projections compare projected revenue to the December 2016 Revenue projections. Yesterday’s state revenue forecast produced some “good news” as well as some “not so good news.”
First for the good news, lawmakers will have an additional $201 million in padding as they work to finalize their two–year budget. Now for the not so good news, those same lawmakers say it won't make a huge difference in the $32 billion two-year state budget, and it won’t change the discussions already taking place to sort out the differences between the Senate and House versions of the budget bill.
As you recall our budget funding request is in both the House and Senate versions of the budget bill. Overall, the fact that revenue projections went up and not down is viewed as positive for our DSP wage related waiver rate increase budget request of 20 million over the two year budget.
The two chambers have until next Friday, April 21st to finalize the budget, if they plan to meet their scheduled date for Sine Die.