Posted on 02/03/2009 3:42:23 PM PST by euram
Governor Reduces Current Year Spending $268.6 million in budget reductions Printer Friendly
FOR IMMEDIATE RELEASE No. 09-17
Governor Palin Reduces Current Year Spending $268.6 million in budget reductions
February 3, 2009, Juneau, Alaska – Governor Sarah Palin submitted a supplemental budget to legislators today that reduces general funds by $268.6 million and seeks authorization to access savings to balance the budget at the end of the fiscal year.
“With changing market conditions and declining oil prices, our state agencies have been working hard to find savings and still provide needed public services,” Governor Palin said. “Through savings targets we implemented at the beginning of the fiscal year and by efficiently managing our programs, we have been able to reduce the current budget and minimize supplemental funding. The more we reduce now, the less we will have to draw from savings at the end of the year.”
The $268.6 million in reductions will bring the estimated revenue shortfall to $1.36 billion. Legislators will have to authorize the use of reserves or make additional reductions to balance the FY2009 budget.
“FY2009 has been a year of unprecedented revenue volatility,” said Palin. “Due to the dramatic decline in oil prices, the estimated revenue of $7.5 billion in the spring 2008 forecast was lowered to $5.5 billion in the January 2009 interim forecast, making responsible reductions necessary.”
The FY2009 budget authorized expenditures of $5.99 billion plus savings appropriations of $1.18 billion, for a total of $7.17 billion.
“With the drop in oil prices, it will require reductions in the budget and access to reserves to keep Alaskans employed and the economy moving,” Palin added. “I am committed to working with the legislature, as we have over the past two years, to make prudent budget decisions and continue to invest in infrastructure that will help develop our resources and our communities. We will continue to monitor the changing economic conditions and the impact of oil prices in the coming weeks as we work on this, and other appropriation bills this legislative session.”
The supplemental bill and more detailed information on the budget are available on the Office of Management & Budget website at http://omb.alaska.gov/ ###
Ain't ever leaving though. Couldn't even drive me outta here with taxes; something about this country.
Have you watched the filthy crooked state repubs try to kill HB68. Palin needs to go after a few more thievin repubs up here; solve the high fuel prices. She always does the right thing in the end.
A little more “global warming” and I am there!
Seriously, let’s move her address to the White House and then we can experience her leadership in all 50 states.
Palin 2012!
I was marvelling at the "out-of-the-box" thinking of this post when I saw the comment, and then I saw it was from you!
Good thinkin'!
When i show up to work at a customers house with Obama Biden crap in the yard or cars the price goes up 50 %
Thank you. I appreciate the nice comments.
My comment was born out of pure frustration, no intellect required at this point.
Aren't they realizing that the party is over and why? How can they not with IOUs instead of tax refunds?
I visited once and loved it. I’d go.
GO SARAH!
Sarah walks the walk, plain and simple.
geesh
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