Budget and Taxes Economic Justice Press Releases & Statements PRESS RELEASE: GBPI Releases Statement in Response to Georgia’s 2023 Report of Revenues and Reserves, Record $10.7 Billion in ‘Undesignated Surplus’ October 17, 2023 / October 18, 2023 by Lauren Frazier ATLANTA, GEORGIA — Today, the Georgia Budget and Policy Institute (GBPI) released a statement in response to Georgia’s year-end FY 2023 report of revenues and reserves. The state raised $37.7 billion in total state funds, substantially exceeding the $32.6 billion estimate made by Gov. Kemp by $5.1 billion. Further, state agencies remitted an additional $501 […] Read more » Budget Alignment Budget Imbalance Budget Recommendations child care Financial Investment Fiscal Analysis Fiscal Policy FY 2024 Projection FY2023 Georgia Finances georgia-budget governor kemp health-care rainy day fund Reserve Accounts Revenue And Reserves Revenue Shortfall Reserve School Buses State Budget State Government Surplus Funds Tax Revenue Drop Tax Revenues Undesignated Reserves Workforce Needs
Blog Dominique Derbigny Sims Economic Justice Surviving not Thriving: Post-Pandemic Economic Security for Black Women and Latinas in Georgia May 11, 2023 / May 12, 2023 by Dominique Derbigny Sims In 2021, GBPI reflected on the unequal impact of the COVID-19 pandemic on economic security for Black women and Latinas. On May 11, the national public health emergency, which was declared more than three years ago, officially expires. During the pandemic, Georgians benefited from federal expansions to health care access via Medicaid, expansions to Unemployment […] Read more » American Rescue Plan Black women COVID-19 COVID-19 pandemic Economic Security expansions to health care access federal student loan debts Latinas medicaid mortgages relief packages Revenue Shortfall Reserve U.S. public health emergency Unemployment Insurance
GBPI In The News Taxes in Georgia fall in April, but budget picture still bright May 10, 2023 / May 19, 2023 by Anthony Hill Georgia remains on track for another budget surplus, even after the state’s tax revenues fell in April. The state has collected $27.8 billion in General Fund revenue through April, according to figures released Tuesday by Gov. Brian Kemp. That’s only about 1% more than last year, with revenue growth slowing down after running red hot […] Read more » Budget Surplus revenue estimate Revenue Shortfall Reserve surplus tax and budget
Blog Budget and Taxes Daniel Kanso, PhD With Record Surplus, Georgia Stands at a Crossroads Ahead of Pivotal Budget Session August 2, 2022 / August 1, 2022 by Daniel Kanso, PhD | 1 Comment on With Record Surplus, Georgia Stands at a Crossroads Ahead of Pivotal Budget Session Last month, Georgia’s Department of Revenue released its report of unaudited tax collections for Fiscal Year (FY) 2022, which ended on June 30, indicating that the state will once again run a surplus that leaves it with a record level of cash on hand and a full Revenue Shortfall Reserve (RSR) that acts as the […] Read more » Budget Budget & Taxes revenue Revenue Shortfall Reserve surplus
Budget and Taxes Coronavirus Daniel Kanso, PhD Fact Sheets Georgia Needs a Three-Pronged Approach to Funding Long-Term COVID Relief February 18, 2021 / February 18, 2021 by Daniel Kanso, PhD Compared to the Fiscal Year (FY) 2020 budget, which was approved before the COVID-19 pandemic, Georgia’s FY 2022 budget, which takes effect July 1, 2021, includes $1.2 billion in continued budget cuts due to a state revenue shortfall caused by the pandemic. At a time when millions of families are experiencing heightened needs due […] Read more » federal relief rainy day fund revenue raisers Revenue Shortfall Reserve
Alan Essig Blog Budget and Taxes May Revenue Review: Revenue Growth Insufficient to Fund Reserves June 7, 2012 / January 17, 2020 by Alan Essig | 1 Comment on May Revenue Review: Revenue Growth Insufficient to Fund Reserves Posted by Alan Essig Although revenue has increased 5.1 percent over the first 11 months of the current fiscal year, the revenue growth is inadequate to increase funds to the Revenue Shortfall Reserve (RSR) or fully fund the Education Mid-Year Adjustment Reserve. The economic health of Georgia depends on developing a fiscal plan that produces […] Read more » Alan Essig Blog Education Mid-Year Adjustment Reserve FY 2013 rainy day fund revenue growth Revenue Shortfall Reserve RSR State Budget
Alan Essig Blog Budget and Taxes March Revenue Review: Revenue Growth Insufficient to Fund Reserves April 10, 2012 / January 16, 2020 by Alan Essig | 1 Comment on March Revenue Review: Revenue Growth Insufficient to Fund Reserves In order to grow jobs and maintain a strong economy Georgia policy makers need to get Georgia’s fiscal house in order. Maintaining our AAA bond rating and making the investments in education, transportation, and healthcare are vital for a strong state economy and robust job growth. The March revenue report shows a slight increase in […] Read more » rainy day fund revenue report Revenue Shortfall Reserve RSR State Budget
Budget and Taxes Fact Sheets Policy Areas Rebuilding Georgia’s Rainy Day Fund is Key to Long-Term Budget Stability February 11, 2010 / January 15, 2020 by GBPI Staff Over the next three to five years, the state needs between $1.5 billion and $2 billion in surpluses to rebuild the Revenue Shortfall Reserve (RSR). In order to do so, lawmakers should take a balanced approach to state budgeting that includes additional revenues. Download the PDF. Read more » Fact Sheet rainy day fund Revenue Shortfall Reserve RSR State Budget
