Chief
03-12-2008, 04:53 PM
http://columbian.com/news/localNews/2008/03/03122008_State-lawmakers-unveil-plans-for-supplemental-budget.cfm
OLYMPIA - The House and Senate Wednesday unveiled what Senate budget chief Margarita Prentice called "a disciplined, frugal" supplemental budget that includes a net $230 million in new spending and leaves $836 million in reserves to deal with a projected deficit when lawmakers return next year.
A House-Senate conference committee cut millions from K-12 education programs and tapped the Washington Convention Center capital account for $52 million to help balance the budget.
Both chambers had earlier released budgets that left about a $750 million ending fund balance by June 30, 2009. But Gov. Chris Gregoire said she wanted more set aside to help the state weather possible economic rough seas. The staff of the budget-writing Ways and Means Committee has projected a $2.4 billion deficit in the 2009-11 biennium.
"If there's a recession, we will have a very difficult biennium," said Sen. Craig Pridemore, D-Vancouver, who as Ways and Means vice chairman helped negotiate the final budget. "If there is not a recession, we will have left the second-highest ending fund balance in history," second only to the $935 million the Legislature left in reserves last year, he said.
Sen. Joe Zarelli, R-Ridgefield, said the larger end-of-fund balance does not address the underlying problem.
"It hasn't changed our greatest concern, which is the $1.7 billion difference between the spending level and the revenue projections for the biennium," Zarelli said. "The issue is not how much we are leaving in our savings account. It's what is going to be needed to carry forth the cost of this budget."
The budget document, negotiated with the governor, goes first to the Senate for passage and then to the House. Both chambers must act before the Legislature adjourns Thursday.
**SCHNIPP**
These wild gyrations in the budget are just not sustainable. Already they want to eat into the reserves, and they just put some of that money away last year.
But you get what you vote for, and I don't see Don Benton or Jim Dunn quoted in this story...
8)
OLYMPIA - The House and Senate Wednesday unveiled what Senate budget chief Margarita Prentice called "a disciplined, frugal" supplemental budget that includes a net $230 million in new spending and leaves $836 million in reserves to deal with a projected deficit when lawmakers return next year.
A House-Senate conference committee cut millions from K-12 education programs and tapped the Washington Convention Center capital account for $52 million to help balance the budget.
Both chambers had earlier released budgets that left about a $750 million ending fund balance by June 30, 2009. But Gov. Chris Gregoire said she wanted more set aside to help the state weather possible economic rough seas. The staff of the budget-writing Ways and Means Committee has projected a $2.4 billion deficit in the 2009-11 biennium.
"If there's a recession, we will have a very difficult biennium," said Sen. Craig Pridemore, D-Vancouver, who as Ways and Means vice chairman helped negotiate the final budget. "If there is not a recession, we will have left the second-highest ending fund balance in history," second only to the $935 million the Legislature left in reserves last year, he said.
Sen. Joe Zarelli, R-Ridgefield, said the larger end-of-fund balance does not address the underlying problem.
"It hasn't changed our greatest concern, which is the $1.7 billion difference between the spending level and the revenue projections for the biennium," Zarelli said. "The issue is not how much we are leaving in our savings account. It's what is going to be needed to carry forth the cost of this budget."
The budget document, negotiated with the governor, goes first to the Senate for passage and then to the House. Both chambers must act before the Legislature adjourns Thursday.
**SCHNIPP**
These wild gyrations in the budget are just not sustainable. Already they want to eat into the reserves, and they just put some of that money away last year.
But you get what you vote for, and I don't see Don Benton or Jim Dunn quoted in this story...
8)