Appropriators adopt revenue projections
Revenue projections for the upcoming fiscal year’s budget were higher than expected, but the figures adopted were only slightly more than what was proposed.
Members of the Joint Appropriations committee approved revenue projections for the Fiscal Year 2020 budget totaling $1.701 billion, which is an increase above what was proposed by Gov. Kristi Noem in January by $6 million, on a 17-0 vote.
“This one was little more difficult,” Sen. Justin Cronin, who chaired the Appropriations’ subcommittee in charge of choosing the figures, said.
Appropriators had a difficult decision to make with total revenue figures presented by the Legislative Research Council (LRC) and the Bureau of Finance and Management (BFM) separated by $20 million.
LRC’s revenue projection totaled $1.715 billion while BFM’s target was set at $1.695 billion, which mirrored the proposal from Gov. Noem in January.
“We picked the lower number,” Sen. Cronin said of the revenue figure selected, noting the potential an economic recession caused trepidation.
“I surely don’t want to go back to having a budget that isn’t fairly and truly balanced.”
The adoption of an additional $6 million in revenue projections bolsters the likelihood public schools receive the proposed 2.5 percent increase in state aid that Gov. Noem included in her budget proposal.
For updates on the budget process and funding for public education, check the ASBSD Blog, Bill Tracker page, Twitter feed and Facebook page.
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