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Governor’s Budget Request FY 2009-2010

On Thursday, November 13th, Governor Bill Ritter presented his proposed budget for FY 2009-2010 to the Joint Budget Committee. Noting fast-changing economic conditions, the Governor requested that his Office of State Planning and Budgeting (OSBP) produce an interim revenue forecast upon which he bases his budget request. While that forecast shows enough revenues to fully fund the 6 percent General Fund appropriations directive, it also predicts negative sales tax revenue growth, fewer income tax revenues from capital investments and wages, and lowered corporate income tax revenue. As a result, the Governor’s budget employs a cautious approach and calls for further preparation for a worsening economy.

Released Nov. 21, 2008

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