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Mississippi state budget (2008-2009)
| Note: This article was last updated in 2009. Click here for more recent information on state budgets and finances. |
For fiscal year 2009, Mississippi faced a $175 million deficit that the Center on Budget and Policy Priorities projected would decline to $87 million for fiscal year 2010.[1]
Budget background
- See also: Mississippi state budget and finances
The budget process in the state of Mississippi officially begins in May, when state agencies prepare requests before submitting them to the governor for consideration in October. The governor consults a group composed of the state economist, the state fiscal officer, the state treasurer, the chairman of the state tax commission, and the director of the legislative budget office before proposing a budget. The group provides an estimated revenue forecast for the upcoming fiscal year based on current economic indicators and the economy's growth. On December 15 the legislative budget committee submits the balanced budget recommendation to the legislature. After a series of meetings and votes are made on individual bills, both the House and the Senate must approve the reports on the appropriation bills by the close of the legislative session, April 1. The governor signs the bill into law.[2]
Mississippi's fiscal year begins July 1 and ends June 30.[3]
Budget figures
The following table provides a history of Mississippi's expenditures and gross domestic product (GDP).
| Fiscal year | Expenditures (billions) | GDP (billions) |
|---|---|---|
| 2000 | $15.4[4] | $64.3[4] |
| 2001 | $16.3[4] | $66.0[4] |
| 2002 | $17.3[4] | $68.1[4] |
| 2003 | $18.4[4] | $72.3[4] |
| 2004 | $19.5[4] | $76.5[4] |
| 2005 | $20.0[4] | $79.5[4] |
| 2006 | $22.1[4] | $84.6[4] |
| 2007 | $24.4[4] | $88.5[4] |
| 2008 | $26.9[4] | $92.7[4] |
| 2009 | $29.8*[4] | $97.0*[4] |
- NOTE: The figures for FY 2009 had not been finalized at the time this data was compiled.
See also
Footnotes
- ↑ Center on Budget and Policy Priorities, "State budget troubles worsen," February 10,2009
- ↑ Mississippi Economic Policy Center, "How was the state’s budget created?" accessed March 2,2009
- ↑ State of Mississippi, "FY 2010 Executive budget recommendation," November 17, 2008
- ↑ 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, "Mississippi State and Local spending," accessed February 27,2009
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