Updated FY 2021 Governor’s Budget Recommendations

The Revenue Estimating Conference (REC) met on May 29, 2020 to review the Fiscal Year 2020 and Fiscal Year 2021 General Fund revenue estimates.  The REC for Fiscal Year 2020 lowered the General Fund revenue estimate $149.5 million from the March 2020 estimate, and lowered the Fiscal Year 2021 General Fund revenue estimate $360.1 million from the March 2020 estimate.

Iowa Code 8.21 requires that if the REC lowers the revenue estimate being used in the budget process, the Governor shall transmit recommendations for a budget in conformance of the revised revenue estimate within fourteen days.  Also, the Governor incorporates passed legislation which impacts the General Fund budget.  These include for Fiscal Year 2020, SF 2144, Supplemental Appropriations Bill, and SF 2408, Supplemental and Continuing Appropriations.  For Fiscal Year 2021, SF 2142 Supplemental State Aid, and SF 2164, School Transportation Equity. 

The Governor recommends for Fiscal Year 2020 the reduction be applied to the estimated ending balance of the General Fund.  Governor’s recommended appropriation adjustments for Fiscal Year 2021 are for a status quo budget, adjusted for the items listed above, miscellaneous changes to the Department of Human Services programs and institutions, and a slight increase to utilities costs with the Department of Administrative Services.

The REC also lowered estimated gaming revenues by $72.9 million in Fiscal Year 2020 and $25.0 million in Fiscal Year 2021.  Recommended adjustments to the impacted funds are included in these updated budget recommendations.

Date Published
06/12/2020
File(s)
Fiscal Year
2021
Topic(s)
State Budget, Budget Book

Printed from the website on September 22, 2020 at 10:23pm.