With data gathered from all 50 state budget offices, this semi-annual report provides a narrative analysis of the fiscal condition of the states and data summaries of state general fund revenues, expenditures, and balances. The spring edition details governors’ proposed budgets; the fall edition details enacted budgets.
Overview – Spring 2017
Governors’ budgets for fiscal 2018 are extra cautious as states contend with slow revenue growth, limited budget flexibility and substantial federal uncertainty.
Key findings from the report include:
- State general fund spending would increase just 1.0 percent compared to current estimated spending levels under governors’ fiscal 2018 budgets.
- States experienced sluggish general fund revenue growth in fiscal 2017 of 2.4 percent, with 33 states reporting collections below budget projections.
- At least 23 states have already made net mid-year budget cuts totaling $4.9 billion in fiscal 2017.
- General fund revenues are projected to grow 3.1 percent in fiscal 2018 based on governors’ budgets.
- States continue to strengthen their reserves, despite slow revenue growth.
- General fund spending on Medicaid grew at an estimated median rate of 5.2 percent in fiscal 2017, with a median growth rate of 4.3 percent projected for fiscal 2018.
- States that expanded Medicaid expect to spend $8.5 billion from state funds on expansion in fiscal 2018.
- Governors’ proposed tax and fee changes would result in a net increase of $3.7 billion.
View the Survey.
National Association of State Budget Officers
Staff Contact
Kathryn White
202-624-5949
[email protected]