JACKSON — A tentative legislative budget proposal spends too much of the state’s reserves, Gov. Barbour wrote in a letter to legislators.
Barbour commended House Appropriations chairman Johnny Stringer and Senate Appropriations chairman Doug Davis for drafting a compromise budget, but said the plan negatively impacts Mississippi’s long-term budget outlook.
“Know that I don’t want to leave my successor or the next Legislature a budget hole of up to $650 million, or about 14 percent of anticipated general fund revenue for FY 2012,” Barbour wrote. “I inherited such a shortfall, and it took two years to dig out. I don’t think you want to face this hole next year, either.”
In his critique of the proposal, Barbour said the plan would spend $58 million more in FY 2012 than was spent in FY 2011, would spend $507 million in non-recurring revenue on recurring expenses in FY 2012, would leave only $155 million in reserve funds for FY 2013 and beyond and has added $130 million more revenue to the budget since LBR was adopted in December, including $100 more in non-recurring revenue.
Source: Governor’s Office