As to revenues, they had been projected to grow 2.7 percent in FY 2006 over FY 2005 but came in at 7.7 percent. Next year's forecast is for a modest 3 percent increase. Spending between FY 2005 and FY 2006 was 8.4 percent, with projections for next year at less than 5 percent overall.
The Fiscal Front
This has been a rebuilding year for states. As the economic recovery that began two years ago continues, states have been able to shore up their fiscal safety nets
This has been a rebuilding year for states. As the economic recovery that began two years ago continues, states have been able to shore up their fiscal safety nets. According to the National Conference of State Legislatures' most recent fiscal survey of the states, aggregate year-end balances (general fund ending balances combined with rainy- day funds) increased nearly 25 percent between FY 2005 and FY 2006-- even though they started the year at unexpectedly high levels. The same is not expected next year. Aggregate year-end balances are projected to decline 29 percent.
As to revenues, they had been projected to grow 2.7 percent in FY 2006 over FY 2005 but came in at 7.7 percent. Next year's forecast is for a modest 3 percent increase. Spending between FY 2005 and FY 2006 was 8.4 percent, with projections for next year at less than 5 percent overall.
As to revenues, they had been projected to grow 2.7 percent in FY 2006 over FY 2005 but came in at 7.7 percent. Next year's forecast is for a modest 3 percent increase. Spending between FY 2005 and FY 2006 was 8.4 percent, with projections for next year at less than 5 percent overall.
