July 9, 2008: Budget Conference Committee Acts: Don’t Believe It
By David Walrath
Last night the Budget Conference Committee completed their actions on the state budget. Included in those actions was a 2.4% COLA for education programs, no categorical aid program cuts and over $8 billion in new revenues. Do not expect this budget to pass.
SSDA continues to recommend that school districts plan for the May Revision categorical aid cuts, no revenue limit COLA and the cash flow deferrals. The Budget Conference Committee action was a statement of principle by the majority party. The minority party, however, continues to resist any significant revenue increases. Because minority votes are required to pass the budget, it is highly unlikely that the minority party will vote for more than $8 billion plus of new revenues.
The Budget Conference Committee action is important because it is the necessary step prior to real negotiations among the legislative leadership and the Governor.
SSDA still believes there will be a state budget in the latter half of August.
