[Missouri-l] Fw: [Modisabilaw] State Revenue Figures Released

[Chip Hailey]

----- Original Message ----- 
From: Marty Exline 
To: MO Disability Policy/Law Listserv 
Sent: Wednesday, January 06, 2010 3:56 PM
Subject: [Modisabilaw] State Revenue Figures Released


As the House Appropriations Committee on Health, Mental Health and Social Services holds hearings this week and next, the budget outlook for Missouri's current fiscal year is looking dismal.  (Note:  the Appropriations Committee hearings scheduled for tomorrow, January 7th, have been cancelled due to the weather). 



Revenue numbers released by the state yesterday were much lower than expected.  The state's December revenue (from individual income taxes, sales and use taxes, corporate taxes, and other collections) was down more than 21 percent compared to December, 2008.  The state budget office believes that there may have to be an additional $200 million restricted from the current year's budget that runs through June 30th.  This is in addition to the more than $600 million in cuts already made this year.  Where any reductions come from should be announced within the next several weeks.

 

As for next fiscal year, the Governor will announce his state budget proposal for FY2011 (which runs from July 1, 2010 through June 30, 2011) when he presents his State of the State address which is scheduled for January 20th at 7:00 p.m.

 

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