Heading for a $300 Million Deficit: The Challenge of the Next Biennium

Full Report (PDF)

Brief Description

This report projects the General Fund revenue and spending under the state's current biennial budget (fiscal years 2004 and 2005). It also projects the next budget (fiscal years 2006 and 2007) on the basis of no change in law, regulation, or practice. The report suggests that the accumulated deficit will be $71 million by June 30, 2005, and will be $306 million by June 30, 2007, if no changes are made. This is a measure of the size of the problem that will confront the next legislature when it meets in January 2005.