For Immediate Release April 8, 2004 Budget Progress This week
the Senate approved and sent to the governor a supplemental funding bill for
state departments and offices. Supplemental budget bills are commonly used to
shore up unanticipated shortfalls and expenses as the budget year unfolds.
Nearly half of the $240 million in this added funding bill comes from federal
sources, with lass than $30 million coming from the state’s general fund. Perennially
the most challenging legislation for lawmakers are the 12 bills making up the
state budget that traditionally originate in the House and move to the Senate
in mid-March. This week the House approved an $18.6 billion spending plan which
is $180 million less than the governor’s budget but provides public schools
with $40 million more than the governor slated for elementary and secondary
education. The budget
blueprint is a moving target but growth in state revenue continues at a pace
slightly ahead of projections. The state’s economy is improving. The fiscal year
2004 projections were for a 3.2 percent growth rate. The actual growth rate for
fiscal year 2004 has been 5.1 percent. These are very encouraging signs and
should signal the end of the revenue slide. This stabilization should add
confidence to the appropriation members. The Senate
Appropriations Committee will now consider the budget bills before sending them
to the full Senate. Any and all differences between the House and Senate
versions must then by ironed out by joint conference delegates and agreed to by
both chambers by or before six p.m., May 7. This deadline is set forth by the
state’s constitution. The second regular session of the 92nd General
Assembly adjourns precisely one week later. Please feel
free to contact me at (573) 751-8793 or by e-mail delbertscott@senate.state.mo.us
.
