States Finally Emerging From Red Ink

[charrison]

linkage

State government finances are improving, a new survey says, with fewer budget shortfalls, more control over spending and a boost in revenue growth for the first time in years.



Still, the upswing found by a national survey of state fiscal health isn't strong enough to instantly undo the past three years of money problems, the worst states have seen since World War II, according to the National Conference of State Legislatures.


The national bipartisan group's latest survey found:


_Ten states reported budget shortfalls so far this year, worth a combined total of $2.8 billion. A year ago at this time, 31 states reported revenue wasn't meeting expenses, totaling $17.5 billion. Most states begin their fiscal year on July 1.


_Thirty-four states were on target or better with their revenue estimates for the first quarter of the fiscal year ? July, August and September. Revenues in 16 states failed to reach targets.


_ More than half the states said that they were on target on the spending side of the budget, though 22 were spending more than they had budgeted. Still, that's better than last year, when 29 states were over budget.

 

[CADsortaGUY]

Originally posted by: charrison
linkage

State government finances are improving, a new survey says, with fewer budget shortfalls, more control over spending and a boost in revenue growth for the first time in years.



Still, the upswing found by a national survey of state fiscal health isn't strong enough to instantly undo the past three years of money problems, the worst states have seen since World War II, according to the National Conference of State Legislatures.


The national bipartisan group's latest survey found:


_Ten states reported budget shortfalls so far this year, worth a combined total of $2.8 billion. A year ago at this time, 31 states reported revenue wasn't meeting expenses, totaling $17.5 billion. Most states begin their fiscal year on July 1.


_Thirty-four states were on target or better with their revenue estimates for the first quarter of the fiscal year ? July, August and September. Revenues in 16 states failed to reach targets.


_ More than half the states said that they were on target on the spending side of the budget, though 22 were spending more than they had budgeted. Still, that's better than last year, when 29 states were over budget.

The national survey said that of the 22 states already seeing spending overruns, more than half blamed Medicaid. Other high-cost programs straining budgets include prisons and mental health programs, among others.

Interesting.

CkG