March 13, 2015
PUBLIC FINANCE > Budget > FY 2016

Governor’s FY 2016 Budget Proposal Includes Savings, Risks

The FY 2016 budget has been hampered by a large structural gap that is the result of $1.2 billion in one-time funds used in FY 2015 and $1.5 billion in spending growth for non-discretionary accounts. That $2.7 billion total shortfall is offset by tax revenue growth of $872 million, leaving a $1.8 billion deficit.