Acting Finance Director Bill Newton: Funding for state agencies "adequate"
The state's financial outlook for this upcoming fiscal year is positive. The acting financial director projects revenue increases for the general fund and education trust fund. He says it's "adequate" funding for the state agencies.Acting Alabama Finance Director Bill Newton explains the budgets Wednesday morning in Montgomery.The 1.82 billion dollar general fund allocates an additional 70 million for Medicaid, 5 million for courts and 10 million for CHIP. Funding levels remain the same for many others, including the overcrowded prison system.The governor would also like to see employee pay raises up to four percent.The 6.1 billion dollar education trust fund calls for a two percent teacher pay raise, as well as an additional 10 million for expansion of Pre-K, 2.5 million for AMSTI, 1 million for career coaches and 23.6 million to help prop up the ailing PACT program.This is just a proposal. The budgets have been sent to the House and Senate for review. A big issue could be the revenue projections because the legislature anticipates a large decrease, not increase in tax revenue.