Legislative Leaders Add $43.8M To Budget Estimate - WLOX.com - The News for South Mississippi

04/15/04

Legislative Leaders Add $43.8M To Budget Estimate

Healthy economic trends prompted legislative leaders Thursday to add $43.8 million to the budget for the coming year. Decisions will be made in the next few weeks on how to spend the extra money.

"The first thing we ought to fund is the education budget,'' said Rep. Cecil Brown, D-Jackson, a member of the Joint Legislative Budget Committee.

The revenue estimate for the fiscal year starting July 1 is $3.7 billion. The estimate is the basic number used to write the overall state budget to pay for everything from schools to prisons to health care.

The estimate was raised based on a recommendation from the revenue estimating committee - the state treasurer, the chairman of the state Tax Commission, the state economist, the state fiscal officer and the director of the Legislative Budget Office.

The group studied everything from employment trends to tax collections before making a recommendation.

"In general, the economy is healthy ... and Mississippi is going to follow what happens on the national level,'' state economist Phil Pepper told lawmakers.

Treasurer Tate Reeves said setting a revenue estimate is not an exact science, and tax collections could fluctuate. He also cautioned legislators against planning to spend 100 percent of the expected revenue.

"It's much more difficult on the back end to make budget cuts than it is on the front end,'' Reeves said.

State law says lawmakers can budget only 98 percent of expected revenue. But in tight budget times the past couple of years, legislators have temporarily lifted that restraint and budgeted 100 percent of the expected money.

That leaves the state with less of a financial cushion when revenue falls short of predictions.

For the coming year, Gov. Haley Barbour and legislative leaders have recommended spending 100 percent of projected revenue.

(Copyright 2004 by The Associated Press. All Rights Reserved.)

  • NEWSMore>>

  • Jury to hear more evidence before deciding life or death for Scotty Street

    Jury to hear more evidence before deciding life or death for Scotty Street

    Thursday, July 27 2017 8:05 AM EDT2017-07-27 12:05:33 GMT
    Scotty Lakeith Street (Photo source: D'Iberville Police Dept.)Scotty Lakeith Street (Photo source: D'Iberville Police Dept.)

    A Jackson County jury has found Scotty Street guilty of capital murder in the 2014 stabbing death of Frankie Fairley.

    More >>

    A Jackson County jury will hear a second day of evidence before heading back to a conference room and determining whether Scotty Street should receive the death penalty. That jury found Street guilty of capital murder in the 2014 stabbing death of Frankie Fairley, the retired special education teacher from Hurley.

    More >>
  • D'Iberville hosts three-day redfish tournament

    D'Iberville hosts three-day redfish tournament

    Thursday, July 27 2017 8:01 AM EDT2017-07-27 12:01:30 GMT
    Fishermen set sail from the D'Iberville boat launch to compete in the Elite Redfish Series tournament (Photo Source: WLOX News Now)Fishermen set sail from the D'Iberville boat launch to compete in the Elite Redfish Series tournament (Photo Source: WLOX News Now)

    A three day fishing tournament brings some of the best professional anglers to South Mississippi. Opening ceremonies for the third and final event of the Yamaha Outboards Eastern Division Redfish Elite Tournament started at sunrise. Once the formal portion of the tournament ended, fishermen boarded their boats and headed out to reel in redfish.

    More >>

    A three day fishing tournament brings some of the best professional anglers to South Mississippi. Opening ceremonies for the third and final event of the Yamaha Outboards Eastern Division Redfish Elite Tournament started at sunrise. Once the formal portion of the tournament ended, fishermen boarded their boats and headed out to reel in redfish.

    More >>
  • WLOX Editorial: Time for Mississippi to do the same

    WLOX Editorial: Time for Mississippi to do the same

    Wednesday, July 26 2017 11:32 AM EDT2017-07-26 15:32:26 GMT

    This Friday and Saturday is the state of Mississippi's annual sales tax holiday. It's a chance to save 7% on clothing and shoes. This is a good thing, it gives parents an opportunity to save money on back to school clothes. 

    More >>

    This Friday and Saturday is the state of Mississippi's annual sales tax holiday. It's a chance to save 7% on clothing and shoes. This is a good thing, it gives parents an opportunity to save money on back to school clothes. 

    More >>
Powered by Frankly