March 11, 2020
The 2020 supplemental operating budget conference agreement was announced this afternoon. There’s a lot to go through (stay tuned for more), but it would appropriate $53.460 billion for 2019–21 from funds subject to the outlook, an increase of $961.0 million over enacted appropriations. The Senate- and House-passed budgets would have each increased appropriations by more than that.
The agreement would leave an unrestricted ending balance of $918 million in 2019–21 and $859 million in 2021–23. After appropriating $100.0 million from the rainy day fund for coronavirus response, total reserves would be $2.997 billion in 2019–21 and $3.558 billion in 2021–23.
Rachel La Corte of the AP reports,
Categories: Budget , Categories.
Leaders said that the crisis also led them to spend less than they originally planned in several areas in order to build up the state’s reserves for future years.
“If revenue is reduced, which I think we all anticipate it will, we have built in a buffer,” said Democratic Sen. Christine Rolfes, the Senate’s main budget writer.