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Tough Fiscal Times for the States: How Did We Get Here? Implications for the Future National Governors Association Institute for Governors' Education Policy.

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Presentation on theme: "Tough Fiscal Times for the States: How Did We Get Here? Implications for the Future National Governors Association Institute for Governors' Education Policy."— Presentation transcript:

1 Tough Fiscal Times for the States: How Did We Get Here? Implications for the Future National Governors Association Institute for Governors' Education Policy Advisors April 4, 2003 Scott Pattison Executive Director National Association of State Budget Officers 444 North Capitol Street, NW, Suite 642 Washington, DC 20001 (202) 624-5382 www.nasbo.org

2 General funds grew at historically high levels, until the “boom” ended Source: NASBO, Fiscal Survey of States

3 State budgets in the late 1990s: historic boom… followed by bust Source: NASBO, Fiscal Survey of States

4 The stock market impact Source: Federation of Tax Administrators

5 Revenues have shrunk Source: Fiscal Studies Program, Rockefeller Institute of Government

6 Economy is uncertain: consumer confidence is down Source: Economy.com

7 Every part of the budget impacted by tough times Source: NASBO, 2001 State Expenditure Report

8 What’s in “all other?” Public health Parks and recreation State police Employer contributions to pensions and benefits Information Technology Care for mentally ill and disabled Environmental Housing General aid to local government

9 K-12 spending Source: NASBO, 2001 State Expenditure Report

10 K-12 spending Source: NASBO, 2001 State Expenditure Report

11 K-12 spending Source: NASBO, 2001 State Expenditure Report

12 K-12 spending Source: NASBO, 2001 State Expenditure Report

13 Higher education spending Source: NASBO, 2001 State Expenditure Report

14 Higher education spending Source: NASBO, 2001 State Expenditure Report

15 Prepare for the future State revenue has always been cyclical Revenue will begin to meet projections -Maintain a long term vision-

16 www.nasbo.org 444 North Capitol Street, NW, Suite 642 Washington, DC 20001 (202) 624-5382 www.nasbo.org

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