Analysts See Continued State Fiscal Slowdown
State officials should expect a continued slowdown in the growth of revenue collections and spending in fiscal 2008, according to a
report released today by the National Governors Association
and the National Association of State Budget Officers, which said the growth of state revenues peaked in the 2006 and 2007 fiscal years.
Fifteen states have reported deficits or projected lower-than-expected revenues for fiscal 2008, largely because of the nationwide slowdown in the housing market. But elementary and secondary school budgets will likely be spared from harm unless economic conditions worsen considerably, leaders of NGA and NASBO said at a press conference here today.
“The picture is more mixed than it has been in the last eight or 10 years,” said Scott D. Pattison, the executive director of the National Association of State Budget Officers. “You have some states doing well...
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