Good Revenue and Caseload Forecasts Reduce Severity of Budget Problem

Actually, we “found” about $87 million in the revenue forecast update and about $330 million in projections of less usage of state services over the remainder of the biennium. In addition to this there has been less utilization of services in the “TANF box,” which is what we call the bundle of services we administer for the federal government that provide temporary aid to needy families.

This significantly reduces the level of severity of the budget cuts we will be making, but does not eliminate them. We expect to introduce the first draft of the House budget proposal this week. I expect significant changes over the remaining weeks of the session, but am hopeful (and on-schedule) to finish by March 8th, the official end of the session this year.