Home » NEWS » Barbour has qualms with compromise budget proposal

Barbour has qualms with compromise budget proposal

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


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About For the MBJ

Leave a Reply

Your email address will not be published. Required fields are marked *