Report: Missouri revenues not on pace to fully fund budget
JEFFERSON CITY, Mo. – New data show it’s unlikely Missouri revenues will grow enough to fully fund the budget passed by lawmakers last year.
State Budget Director Dan Haug on Friday announced state revenues grew 2.6 percent through May compared to the same period last fiscal year.
That’s well under the 7 percent needed to fully fund spending outlined in this year’s budget and the 3.4 percent legislators originally estimated.
Revenues also are below the scaled-back 3 percent-growth mark that Republican Gov. Eric Greitens and lawmakers predicted in January.
Lower-than-expected growth means funding cuts made by Greitens and his predecessor, former Democratic Gov. Jay Nixon, likely will stay in place.
There’s only one month left for the state to make up the difference before the start of the next fiscal year.