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Georgia state budget (2008-2009)
| Note: This article was last updated in 2009. Click here for more recent information on state budgets and finances. |
Georgia faced a $2.2 billion budget gap for fiscal year 2009. For fiscal year 2010, the Center on Budget and Policy Priorities estimated a larger deficit of $3.1 billion.[1] For FY 2009, revenues had declined a total of 9.5 percent.[2]
Budget background
- See also: Georgia state budget and finances
Georgia's fiscal year begins July 1 and ends June 30 of the following year. According to the state Constitution, every year the governor must present a spending recommendation to the General Assembly. Additionally, the budget must be balanced. The budget recommendation, according to state law, must be submitted five days after the assembly convenes in January. Both the House and the Senate hold a series of hearings before approving the bill. Once the bill is approved, it is sent to the governor to be signed into law. The governor has line-item veto power; however, he must sign the bill within 40 days after adjournment or the bill becomes law.[3]
Budget figures
The following table provides a history of Georgia's expenditures and gross domestic product (GDP).
| Fiscal year | Expenditures (billions) | GDP (billions) |
|---|---|---|
| 2000 | $43.5[4] | $290.9[4] |
| 2001 | $48.6[4] | $299.4[4] |
| 2002 | $53.6[4] | $306.7[4] |
| 2003 | $56.0[4] | $317.9[4] |
| 2004 | $58.4[4] | $338.5[4] |
| 2005 | $58.9[4] | $359.7[4] |
| 2006 | $63.0[4] | $376.4[4] |
| 2007 | $72.6[4] | $396.5[4] |
| 2008 | $81.2[4] | $409.6[4] |
| 2009 | $90.7*[4] | $408.9*[4] |
- NOTE: The figures for FY 2009 had not been finalized at the time this data was compiled.
Proposed actions
Governor Sonny Perdue
The governor signed FY 2010 budget into law on May 13, 2009. The budget, $18.6 billion, amounted to $2.5 billion less than the original FY 2009 budget passed during the 2008 session of the Georgia General Assembly. [5]
In late May 2009, Gov. Perdue announced a fourth budget cut for fiscal year 2009, with an additional $274 million cut from the state budget.[2]
Legislation
- Georgia Senate Bill 300 (2008), Transparency in Government Act
See also
- Georgia government sector lobbying
- Georgia state budget and finances
Footnotes
- ↑ Center on Budget and Policy Priorities, "State budget troubles worsen," May 18, 2009
- ↑ 2.0 2.1 Cite error: Invalid
<ref>tag; no text was provided for refs namedGATax - ↑ Georgia General Assembly, "Georgia Budget Process," accessed June 3,2009
- ↑ 4.00 4.01 4.02 4.03 4.04 4.05 4.06 4.07 4.08 4.09 4.10 4.11 4.12 4.13 4.14 4.15 4.16 4.17 4.18 4.19 US Government Spending, "Georgia State and Local spending," accessed June 3,2009
- ↑ Gov. Perdue, "Governor Perdue Signs $18.6 Billion Fiscal Year 2010 Budget," May 13,2009
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