State budget adjustments show negative revenue growth
Omaha, NE – New state budget figures show negative revenue growth this fiscal year and next.
Lawmakers received the budget adjustments last Thursday and are set to begin debating them this week. Revenue growth this fiscal year and next is projected to be -1.7%. Revenue has grown a total of 15% over the past 28 years. Senator Lavon Heidemann, Chairman of the Appropriations Committee, says the negative revenue growth shows how the recession is impacting Nebraska's budget.
The 2011-2013 projected budget deficit is $670 million. Senator Heidemann says consolidation and elimination of services are likely. He points to a Constitutional amendment in the Legislature that would eliminate the State Treasurer's Office. If it passes, voters would decide this fall if that office should be eliminated.