With less than two weeks left in the session, the 108th Legislature is dragging an overburdened $12.975 billion budget to the finish line.
Passing the budget is the only thing lawmakers are constitutionally required to accomplish. As introduced by the Appropriations Committee, the budget proposal would result in a projected ending balance of almost $715 million above the 3 percent required minimum reserve.This amount would be available to fund proposals pending before the Legislature this session.
That would leave almost $990 million in the Cash Reserve Fund, said committee chair Sen. Robert Clements of Elmwood. He said the budget reflects a two-year average spending growth rate of 2.3 percent and would leave approximately 16 percent — or two months’ worth — of the state’s annual expenditures in the Cash Reserve Fund as a buffer against potential future economic downturns.
