Last Updated:
March 10, 2010
Georgia Real Estate
Balancing Plan Submitted by Governor
In order to re-balance the FY 2010-11 budget, Governor Ritter submitted a $340 million proposal to the Joint Budget Committee this week. The November budget proposal closed a $1 billion shortfall for the next fiscal year, and revenues have continued to decline. A total of $2.2 billion in shortfalls have been closed in the current FY 2009-10 budget.
The proposals for cutting current year spending protect higher education, which has taken the brunt of budget cuts since the recession began, and further protects K-12 education by transferring $135 million from the General Fund into the State Education Fund in order to keep it from becoming insolvent in FY 2010-11.
Additionally, most state agency operating expenses will be reduced by 5 percent, anticipated to save $1.4 million. In the Department of Health Care Policy and Financing, $21.6 million is expected in savings from lower-than-projected caseloads of 14,600 clients.
The submitted plan is comprised of more than 30 separate items.
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