It’s important to stay up-to-date on the nationwide trends for revenue and state spending. These trends affect the resources available for you to do your work and the long-term financial health of your state. 2019 marks the ninth consecutive year of moderate growth in both state spending and revenue growth according to currently enacted budgets. General fund spending for 2019 grew by 5.8 percent when compared to general fund spending in 2018. This increased general fund spending is followed by a projected 4 percent growth in general fund revenues for 2020 with a 3.7 percent increase in projected general fund spending based on proposed governor budgets. Let’s examine the current and projected financial situation of states further.
Read more “To Growth and Beyond: NASBO Fiscal Survey of States”