New state revenue estimates Friday, KASB Live analysis TuesdayScott Rothschild
Gov.-elect Laura Kelly and the rest of Kansas will get their first view of new revenue figures Friday and KASB will provide immediate updates and then expert analysis Tuesday on the estimates that are used to craft a state budget and school funding.
Friday afternoon, the Consensus Revenue Estimating Group — a panel of state and academic budget experts — will meet and announce the adjusted revenue figures for the remainder of the current fiscal year, which ends June 30, 2019, and the next two fiscal years.
The revenue figures are used by the governor and legislators to determine state spending and taxes in the legislative session that starts in January.
Watch for KASB updates on Twitter and Facebook late Friday and then at 12:30 p.m. Tuesday, Kansas Legislative Research Department Principal Economist Chris Courtwright, who is a member of the CREG, will be a special guest on KASB Live to provide analysis of the new estimates. Here is the link for the KASB Live webinar.
State revenues will determine how the state can provide for K-12 education funding and other programs. During the last legislative session, the Legislature passed a five-year school funding plan that the Kansas Supreme Court said must be adjusted to cover inflation.
So far, this fiscal year, state general fund tax revenue for the first quarter was $173 million more than the first quarter of FY 2018, and nearly $100 million more than the official estimate for the year released in April.