HIGHLIGHTS OF THE 52ND LEGISLATURE

Budget

After years of papering over imbalanced state budgets, the new Governor and Republican Leadership in the Legislature committed to achieving a structurally balanced budget.  A budget that spends only those monies that are available provides the state with fiscal stability, improves credit ratings, and establishes a better climate for businesses looking to expand.

As our state economy slowly continues to improve after the recession, there is a temptation to immediately expand state services. By holding to a conservative approach as revenues increase, Arizona will be in a stronger position to prioritize and allocate available resources to help the most crucial areas of our state.

  • Structurally Balanced Budget by FY 2018:
    • $717 million projected shortfall in FY 2015
    • $257 million projected shortfall in FY 2016
    • $125 million projected shortfall in FY 2017
    • $33 million projected positive structural balance in FY 2018.

Even as difficult decisions were made to produce a structurally balanced budget, leaders made sure K-12 education was not harmed. In fact, K-12 spending has a net increase of $105 million General Fund spending from FY 2015 to FY 2016. That growth is significant given that Arizona was facing a $1 billion deficit going into budget discussions.

  • K-12 – Overall Total K-12 Spending Increased by $105 million:
    • $91 million to fully fund formula increases
    • $85 million increase in K-12 inflation funding
    • $74 million for additional K-12 inflation funding
    • $0.5 million for Teach For America
    • $1.0 million for JTED Soft Capital

For the complete document, click here

Accomplishments of the 52nd Legislature 4-20-15

About azsenaterepublicans

This blog is maintained by the Senate Republican Staff Communications team.
This entry was posted in Border Security, Budget, Economy, Education, Federal Government, Gun Rights, Healthcare, Immigration, Jobs, Public Safety, States Rights, Transportation. Bookmark the permalink.