Survey provides details on state fiscal conditions.
Position | Statistical data |
State fiscal conditions continue to improve into fiscal 2013, although many state budgets are not back to pre-recession levels. Governors' recommended budgets show an overall increase in general fund expenditures and revenues in fiscal 2013, according to The Fiscal Survey of States, a hi-annual survey and report from the National Association of State Budget Officers and the National Governors Association. However, fiscal 2013 general fund revenues are projected to increase by $27.4 billion, or 4.1 percent, and additional recommended spending is projected to increase by just $14.6 billion, or 2.2 percent, suggesting that states remain cautious about the strength of the national economic recovery
State revenue improvement has not been sufficient to meet increased demand for state services and spending over the past two years, leaving states with a combined $146.3 billion in budget gaps in fiscal 2011 and 2012, according to the report. Gaps between spending and revenue collections decreased slightly, from $78.2 billion in fiscal 2011 to $68.1 billion fiscal 2012. Strengthening revenue collections combined with less general fund expenditure...
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