January 14th, 2012 • Filed Under
Continued lower natural gas prices could force state lawmakers to impose spending cuts on state agencies in the legislative session that starts next month, Gov. Matt Mead said Friday.
He announced Friday that the latest state revenue projections for the two-year budget cycle that begins next July are more than $100 million less than the state anticipated in its last revenue projection released in October.
Last month, the Governor proposed a $3.4 billion state funds budget for the biennium that called for leaving more than $87 unappropriated for legislators to spend as they saw fit. But Friday’s revenue projections from the state’s Consensus Revenue Estimating Group wipes out that extra funding and still leaves Mead’s proposed budget more than $20 million underwater.
Because of the lower revenue projects, lawmakers will undoubtedly push Wyoming agencies to trim their existing budgets.