3.1 percent growth in budget expected

Tuesday, April 28, 2015

The preliminary budget created by the Legislature's Appropriations Committee will be released to the legislature April 28 and it looks like they will recommend a growth in spending of 3.1%. The total budget will be in the $8.6 billion dollar range. The main problem the legislature will face is the Nebraska Forecasting Advisory Board, which predicts our future tax revenues, isn't set to meet until April 30. So we will be trying to approve a budget without the Forecasting Advisory Board's projections. Fortunately, the appropriations kept the growth rate low. If the forecast comes in lower than expected we would be able to make adjustments without needing to raise taxes. There is a little extra money in the budget for discretionary expenditures.

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