SlideServe
Télécharger Obtenir Pro
Menu
Accueil Pro
Préférences
ApparenceLight Aide et commentaires
© SlideServe · v2026

Missouri Budget Update

aldan avatar
aldan
13 diapositives · 260 Views · Feb 28, 2014

The Missouri Budget Update outlines key economic indicators and budgetary challenges for FY 2013 and 2014. Personal income growth continues at an annual rate of 4%, with a declining unemployment rate projected to reach 7% by mid-2013. The update highlights the distribution of the $8 billion general revenue budget across various sectors, including K-12 and higher education. Potential budget shortfalls and their implications for funding, including state student aid programs, are discussed. Legislative changes and future funding considerations are crucial for sustaining higher education effectiveness.

#osage #jefferson city #saint louis #midwest #mo #platte #santa fe trail #springfield
Missouri Budget Update - slide 1
01 / 13Missouri Budget Update
1 / 17

Télécharger la présentation

Missouri Budget Update
Une image / un lien ci-dessous est fourni (tel quel) pour télécharger la présentation

Politique de téléchargement : le contenu du site vous est fourni TEL QUEL pour votre information et votre usage personnel ; il ne peut être vendu, concédé sous licence ni partagé sur d’autres sites sans l’accord de son auteur.Le contenu vous est fourni TEL QUEL, pour votre information et votre usage personnel uniquement. Téléchargez la présentation en cliquant sur ce lien. Lors du téléchargement, si vous ne parvenez pas à télécharger une présentation, l’éditeur a peut-être supprimé le fichier de son serveur.Pendant le téléchargement, si vous ne parvenez pas à obtenir une présentation, le fichier a peut-être été supprimé par l’éditeur.

F I N

Plus de contenu associé

Transcription de la présentation

  1. Missouri Budget Update FANG Meeting June 21, 2012

  2. Agenda • Economic Outlook • State Revenue and Spending Overview • FY 13 and 14 Budget Issues • Impact on Higher Education • State Student Aid Programs • Other News

  3. Missouri Economic Outlook • Personal income growth remains strong • Annual rate of 4 % • Wages and salaries increased as 2011 ended • Expect continued strength into next year • Unemployment declining • Remains below national average • Projected to reach 7 % by mid-2013

  4. Missouri Revenue • Revenue sources • Individual Income Tax – 67 % • Sales Tax – 25 % • Corporate Tax – 5 % • All other – 3 % • Relatively consistent for past 5+ years • Balanced budget assumes growth of 3.9 % • Collections have been improving in most areas

  5. Missouri Budget Update • FY 2013 General Revenue budget - $8 billion • PK – 12 Education – 36 % • Human Services – 30 % • Higher Education – 11 % • Corrections/Public Safety – 8 % • Includes approximately $850 M for higher education • Remains well below 2001 high point

  6. Missouri Budget Update • Potential budget issues for FY 2013 • Is revenue estimate accurate? • 3.9% growth required to be balanced • Possible $75 M shortfall • $35 M lottery • $20 M new tax breaks • $20 M Medicaid and disaster recovery • Results • No action expected until after November

  7. Missouri Budget Update • What is ahead for FY 13 and 14? • Will core revenue remain strong? • Will tax credit reform be addressed? • Will tobacco tax increase pass? • How will pent up demand be addressed? • How will $200+ M of one-time funds be replaced for FY 2014? • $40 M mortgage settlement • $62 M federal fund carryover • $115 M fund balances

  8. Higher Education Budget • Public Institutions • Governor’s recommendation • $106 M reduction from FY 12 • Revised to $60 M reduction based on housing settlement • Final budget provides level funding for FY 2013 • Withholdings/spending restrictions? • Tuition Limitation – July 1 deadline

  9. Higher Education Budget • Student Financial Aid Programs • Level funding • Access Missouri • Approximately $60 M available ($5 M MOHELA) • Expect 10-12 % increase in eligible applicants • Reduction of estimated awards possible • Bright Flight • Approximately $12 M available • Awards may increase based on decline in eligible students

  10. Higher Education Budget • A+ • Approximately $30 M available ($4M from MDHE) • Continue full funding • 40 new A+ high schools • Projecting 10 % increase in students • Ross-Barnett • Direct funding remains flat • Some additional funds available from other programs

  11. Other Legislative News • HB 1042 • Signed by Governor • Remediation study and reform • Statewide core transfer library • Minimum of 25 lower division courses • By July 1, 2012 • Foster reverse transfer • Authorize fees for approval of out-of-state publics • Restructures proprietary school licensure fees

  12. Other News • MDHE Student Portal • Information in letters to students • More publicity coming soon • Expansion in planning stage • State student aid data report • Requested by Governor • Deadline of August 1 • A+ rule revisions

  13. Questions Missouri Department of Higher Education P.O. Box 1469 Jefferson City, MO 65102 Phone: (573) 751-2361 Fax: (573) 751-6635 Info. Center: (800) 473-6757 info@dhe.mo.gov www.dhe.mo.gov