Release of Budget Reports (Overview, Education, HB 718)
FOR IMMEDIATE RELEASE
Georgia Budget and Policy Institute (GBPI) today released its overview of the Governor’s FY 2013 budget as well as analysis of the PK-12 and Higher Education budgets. For the first time in several years, there are no dramatic cuts in the governor’s budget recommendations; however, many state agencies are facing additional two-percent budget cuts.
According to the GBPI budget analyses, the FY 2013 budget:
- Contains $930 million in additional funds; however, the budget is nearly $2 billion less than the pre-recession budget of FY 2009. Most of the increased spending keeps the Medicaid budget whole ($244 million), pays for increased number of students in K-12, Board of Regents, and Technical College System ($188 million), and makes the required payments into the Teachers and State Employee Retirement Systems ($146 million).
- Faces a projected $320-million deficit in FY 2014.
- Fully funds student growth within the Department of Education (K-12); however, the budget does not begin to restore the more than $1 billion (12.5 percent) in cuts to K-12 education in recent years.
- Partially funds student growth within the Board of Regents, cutting funding by an additional $35 million. The Board of Regents budget is down more than $450 million (19.9 percent) since FY 2009.
- Partially funds Technical College System enrollment growth, cutting funding by $2 million. The Technical College System budget is down by $42 million since FY 2009. These cuts have resulted in the Technical College System faculty being made up of 71 percent part-time and adjunct faculty. Such staffing jeopardizes the accreditation of the Technical College System.
The state’s disinvestment in education over the past four years has negatively impacted the economic health of the state. One of the most important factors for job growth and a healthy economy is a well-trained and educated workforce. Instead of cutting prior investments and underfunding public resources such as schools that are most important for future job growth, a balanced and targeted approach to state budgets, one that includes additional revenues, would allow Georgia to position itself to prosper as the economy recovers.
GBPI will release analysis of the Departments of Community Health, Public Health, Behavioral Health and Developmental Disabilities, and Human Resources budgets later in the week.
- FY 2013 Budget Analysis: Budget Overview
- FY 2013 Budget Analysis: PK-12 Education
- FY 2013 Budget Analysis: Higher Education
- Visit www.gbpi.org to download the FY 2013 Budget reports
- For Twitter coverage from the 2012 policy conference, follow GBPI on Twitter @gabudget#GBPI2012.
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About the Georgia Budget and Policy Institute
GBPI is the state’s leading independent, nonpartisan nonprofit engaged in research and education about the fiscal and economic health of the state of Georgia. GBPI provides reliable, timely analysis of Georgia’s budget and tax policies, and promotes greater state government fiscal accountability, improved services and an enhanced quality of life for all Georgians.