Looking at large new expenditures that are on the horizon for FY2019, there is an almost $100 million request from the Department of Elementary and Secondary Education (DESE) for an increase in the foundation formula, a $25 million new decision item to fund the Missouri State Employees Retirement System and an additional $91 million for cost to continue the Missouri Consolidated Health Care Plan.
All of these factors mean that there will be another extremely tight budget cycle here in Missouri. It is expected there will be another round of withholdings for the current fiscal year, which may be tampered by some lapse dollars in other parts in the budget, but we will know more in the coming weeks as the consensus revenue estimate is solidified, which is the foundation of budget building.
Important Session Dates…
Jan 3rd – Session Reconvenes
Jan 10th - State of the State
Jan 15th – Martin Luther King Day
March 19th - March 23rd – Legislative Spring Break
April 2nd – Easter Monday