Lawmakers received some good news today with the state’s caseload forecast adding approximately $56 million to the minuscule budget ending fund balance. Had the caseload forecast instead gone the other way and resulted in an increase of $56 million in costs, the balance sheet for only the general fund would have been a negative $33 million.
Before anyone gets too excited about today’s news it is important to remember there remains a 40% possibility that forecasted revenue will come in $1.3 billion lower than expected before the biennium ends.
Also, depending on what the U.S. Supreme Court does tomorrow in the federal health care ruling, today’s savings could be wiped out if the Court tosses the full law.
For today at least, however, good budget news.