Alabama Legislature 2022 Budget Proposal Details
State of Alabama's budget process, revenue estimates, and economic assumptions for the 2023 fiscal year. Governor's proposed budgets for FY2023 including priorities for the General Fund and Education Trust Fund.
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Presentation Transcript
2022 Regular Session of the Alabama Legislature BILL POOLE, DIRECTOR OF FINANCE JANUARY 11, 2022
State Budget Process September Process begins with revenue estimating November 1st Agencies submit budget requests Executive Budget Office staff receive and analyze requests November/December Meetings with agencies to discuss their budget requests, discussion of priorities with Governor Ivey, and formulating early drafts of the budgets Follow up meetings with agencies as necessary Governor Ivey meets with legislative leadership for input on policy matters Budgets are finalized and prepared in the last week before the Regular Session begins
Revenue Estimates and Economic Assumptions Alabama s economy remains resilient: Alabama s Unemployment Rate is currently 3.1% Nationwide Unemployment Rate is currently 3.9% State General Fund Revenues Education Trust Fund Revenues FY 2021 - historic 11.44% growth FY 2021 - historic 16% growth Estimated FY 2023 - 2.08% growth Estimated FY 2023 - 3.61% growth
2023 Budget Governors Proposal General Fund Total Proposed FY2023 Budget $2.718 billion 1.52% increase over FY 2022
2023 General Fund Budget Priorities: Investments in services for children with severe emotional, behavioral, and mental health issues Investments in mental health services and crisis centers Investments in services for veterans and seniors Funding for correctional facilities maintenance and construction Funding for one-time construction projects* for public health and public safety Investments in technology infrastructure* Preparation for future economic downturns* *Funding via Supplemental FY22 Appropriations and FY23 Budget Proposal
2023 Budget Governors Proposal Education Trust Fund Total Proposed FY2023 Budget $8.3 billion $627 million increase over FY 2022
2023 Education Trust Fund Budget Priorities: Investments in Pre-K, after-school and summer school programs, and day care Investments in opportunities for math and science students and teachers Funding to provide access to teacher professional development opportunities Expanding school-based access to mental health services Investments in ACCS , including prison education, dual enrollment, and modernizing career tech equipment Minimum of 6.5% operations and maintenance increase for public colleges and universities Preparation for future economic downturns
2023 Budget Governor's Proposal In both the State General Fund and the Education Trust Fund: Focus on sustainability Addressing one-time needs Not utilizing carryover balances for ongoing expenses Preparing for the expected future economic downturns with careful, thoughtful allocations of funds
2022 Regular Session of the Alabama Legislature BILL POOLE, DIRECTOR OF FINANCE (334) 242-7160 BILL.POOLE@FINANCE.ALABAMA.GOV
